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Coca-Cola Nigeria System to Invest N560b in 5 years, Flags off 70th Anniversary

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L-R: Ekuma Eze, Public Affairs & Communications Director, Nigerian Bottling Company (NBC) Ltd.; Matthieu Seguin, Managing Director, Nigerian Bottling Company (NBC) Ltd.; Alfred Olajide, Managing Director, Coca-Cola Nigeria Limited and Amaka Onyemelukwe, Public Affairs & Communications Director, Coca-Cola Nigeria Limited, at the press briefing held today to flag off activities marking the 70th anniversary of the The Coca-Cola System in Nigeria.
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The Coca-Cola System in Nigeria, comprising Nigerian Bottling Company (NBC) Limited and Coca-Cola Nigeria Ltd, has flagged off activities marking its 70th anniversary celebration in Nigeria, with commitment to invest N560 billion in five years.

This was announced Thursday at a press briefing with key NBC and Coca-Cola Nigeria executives in attendance.

The Coca-Cola System, through the bottling arm NBC, was incorporated in 1951. Today the Coca-Cola system is a leader in the non-alcoholic category with a rich portfolio of brands and array of options across its product offering.

The system has kept growing with its customers with a stated vision to provide a beverage for every occasion around the clock, while positively impacting the nation and economy.

With 8 manufacturing plants, over 7000 dealers, skilled and dedicated employees, and a sophisticated distribution system across Nigeria, there is practically no community in Nigeria where a cold bottle of Coca-Cola is not within the close reach of consumers.

Commenting on the 70th anniversary milestone, Mathieu Seguin, Managing Director of NBC, said, “As we continued to grow, we have been very deliberate about investing heavily to make a positive impact in the lives of people in communities where we work and operate. We believe that our business is only as sustainable as the communities in which we do business, and this is why we have mainstreamed sustainability into every aspect of our business.

“For perspective, in the last 10 years alone, the Coke System has invested more than 9 billion naira in lifting the living standards of communities where we do business in Nigeria, through locally relevant initiatives.

Some of the areas we have had the most impact have been in education and youth development, women empowerment, water, environmental sustainability, sports and the promotion of commerce and entrepreneurship.”

Seguin went on to share some of the impact and notable accomplishments of the Coca-Cola system over the years. In youth development, the System has trained over 30,000 youths on entrepreneurship and employability skills across different cities in Nigeria in the last 5 years.

Under Education, its Tech Relevant Teacher (TRT) project has impacted 24,000 school pupils, with 648 school leaders and teachers trained and several classrooms blocks constructed or renovated in over 30 public schools in the last 5 years,  impacted over 30,000 students.

With regards to women development, from 2015 to 2019 alone the Coca-Cola 5by20 program impacted over 470,000 women, with 38,000 women supported to start up their own medium, small or micro businesses as Coca-Cola Distributors or Retailers.

The Lady Mechanic Initiative empowered 100 vulnerable young women with vocational, entrepreneurial and life skills, and equipped them to become certified professional automobile mechanics.

Furthermore, the Safe Birth Initiative, a wellbeing programme to support the efforts of the government towards reducing the alarming numbers of deaths by women and new-born babies from birth-related complication has impacted over 12,000 Mothers and Babies since inception.

Speaking also at the event, Alfred Olajide, Managing Director of Coca-Cola Nigeria remarked that, “Anniversaries are an important part of life. They remind us of important events, both personal and cultural.

“This celebration not only gives us an opportunity to look back at the brand’s storied history in Nigeria but is also an opportunity to highlight our plans for the future. This milestone anniversary is a testament to the possibilities and shared opportunities we have created in this great country.

Beyond an anniversary, this is a story of a company building and establishing long-lasting relationships with diverse groups, individuals, and organisations in a bid to ensure a better-shared future; it is years of system investments that have ensured the oiling of this country’s economic gears; it is years of initiatives that have ensured and fostered community resilience in communities seeking our intervention; it is years of instilling hope, open happiness, positive feelings and the magic of community in audiences.”

The 70th anniversary celebration will run all through the remaining part of 2021 with a line-up of activities designed to celebrate the milestone with the Coca-Cola System’s consumers, customers, employees, partners and the general public for their support towards the growth of the business which include the Anniversary Stakeholder Event, consumer seeding/giveback programmes among others.

“In emphasizing our current Real Magic philosophy, we will be kickstarting The Nigerians of Coca-Cola campaign, which will serve to tell a visual story of a diverse set of people across key regions in the country with different struggles and positive histories with Coca-Cola.

“These are people that have directly benefited from The Coca-Cola System’s sustainability initiatives – from our value system to our key programme areas such as women and youth empowerment, waste, wellbeing, and water stewardship.

“Through this activity, we will also highlight the long-term impact these partnerships and initiatives have had on the communities and individuals.

“To share fun and interesting stories about our beverages, we are also launching the My Coke Moments campaign, to encourage customers and stakeholders across demographics to share nostalgic moments and memories with their online network of friends.

“This further demonstrates Coca-Cola’s cultural relativism in Nigeria and showcases the brand’s longevity and love in the country

“We have also planned Share a Trip with Coke which is an activity that will be spreading Real Magic across four key Nigerian cities.

“Coca-Cola branded buses will be on major routes in Lagos, Kano and Port-Harcourt, and lucky customers that get on the buses will be rewarded with free rides and exclusive brand merchandise.

“To cap off the exciting activities, we will close the celebration with a celebratory dinner in November 2021 to delight our varied stakeholders”.

At the event, the Coca-Cola System presented Socio-Economic Impact Report for 2015-2019 which summarises the impact of the system, the value it has contributed to the Nigerian economy and the investments it is making in communities.

According to Mr. Seguin, “since 2007, we have invested $1.7billiion in the country and we will be investing an additional N560 billion or $1b in our operations in Nigeria.

“In the last five years, the Coca-Cola system has also supported the creation of 58,000 jobs along its value chain”.

In closing, Olajide remarked that, “as we prepare for more decades of excellence and enriching moments, I believe that there are opportunities for us to learn more, listen more, and continue to tailor our beverage solutions, to provide our consumers the brands they love at the different phases of their lives, done sustainably for a better shared future.

We will continue to enable economic empowerment for the people who need it most – downstream and upstream of our supply chain to truly uplift future generations.

Our environmental, social, and governance (ESG) goals are embedded in how we operate as a business – it has been the history and legacy of the business in Nigeria, and our consumers should not expect anything less than the promise of quality, personalization, and the optimism that our beverages inspire.”

Olajide noted that Coca-Cola has always been in the forefront of corporate support for the development of football in Nigeria. Over 10,000 players, from 500 schools and 50 celebrity football coaches have participated in the Copa Coca-Cola programme which has reached the 36 States and the FCT, Abuja since it launched in Nigeria in 2009.

In addition, on January 17, 2018, Coca-Cola Nigeria Limited announced its partnership with Nigeria Football Federation (NFF) as the Official Soft Drink Company and Sponsor of all the Nigeria National Football teams.

The partnership is worth $4 million and will run for five years. Partnerships such as these have brought the FIFA World Cup trophy to Nigeria three times, as part of the FIFA World Cup™ Trophy Tour and have given many consumers the opportunity to travel and watch football tournaments live.

Sustainable manufacturing was also highlighted as an ongoing priority for the System, with a focus on Energy use reduction, Water use reduction, Emissions reduction and World Without Waste through investments made in installations such as Combiner Heat and Power plant, Effluent treatment plants and hybrid solar power installations in its manufacturing plants.

The system also reinforced its global commitment to make all consumer packaging 100% recyclable by 2025 and to enhance the collection of all packaging material by 2030 through its World Without Waste program.

 


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Trump Says He Made no Mistake Sharing Video Depicting Obamas as Apes

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United States President Donald Trump has said he made no mistake for a video briefly shared on his official Truth Social account that depicted former President Barack Obama and former First Lady Michelle Obama as apes.

Trump Says He Made no Mistake Sharing Video Depicting Obamas as Apes

Former President Barack Obama

Speaking late Friday to reporters accompanying him aboard Air Force One, Trump insisted he made no mistake by sharing the video and does not need to apologise.

“I didn’t make a mistake,” he said.

Trump explained that he did not watch the entire clip before it was posted.

“I didn’t see the whole thing. I looked at the first part, and it was really about voter fraud in the machines, how crooked it is, how disgusting it is.

“Then I gave it to the people. Generally, they look at the whole thing. But I guess somebody didn’t,” he said.

When asked directly whether he condemned the video’s content, Trump replied, “Of course I do.”

The video, which was posted late Thursday, pushed a conspiracy theory about voting machines used during the 2020 election and included a racist depiction of the Obamas.

It remained on Trump’s Truth Social account for about 12 hours before being deleted on Friday morning, following widespread bipartisan calls for its removal.

The White House initially defended the post in an emailed statement to reporters on Friday morning by Karoline Leavitt, Press Secretary,.

She said, “This is from an internet meme video depicting President Trump as the King of the Jungle and Democrats as characters from The Lion King.”

Leavitt added, “Please stop the fake outrage and report on something today that actually matters to the American public.”

Hours after the statement was issued, the video was removed from Trump’s official Truth Social account.


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Orya, Ex-NEXIM MD Jailed 490 Years for N2.4Bn Fraud

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Roberts Orya, MD, NEXIM Bank
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Robert Orya, former managing director, Nigerian Export-Import Bank, (NEXIM), has been sentenced to a cumulative 490 years’ imprisonment over a N2.4 billion fraud, following his conviction by a Federal Capital Territory (FCT) High Court in Abuja.

Orya, Ex-NEXIM MD Jailed 490 Years for N2.4Bn Fraud

The conviction was secured  by the Economic and Financial Crimes Commission (EFCC). Justice F. E. Messiri sentenced Orya to 10 years’ imprisonment on each of the 49 counts brought against him, with the sentences running cumulatively.

Orya, who headed NEXIM Bank between 2011 and 2016, was prosecuted by Samuel Ugwuegbulam, EFCC counsel.

The anti-graft agency accused him of fraudulently diverting funds belonging to the bank—charges the court held were proven beyond reasonable doubt.

Delivering judgment, Justice Messiri ruled that the prosecution successfully established its case, finding the former bank chief guilty on all 49 counts of fraud.

The conviction has been widely linked to the renewed momentum within the EFCC under Mr. Ola Olukoyede, its Chairman, whose leadership has seen a reinvigoration of the agency’s resolve to pursue high-profile corruption cases to their logical conclusion.

Since assuming office, Olukoyede has repeatedly vowed that no individual, regardless of status or past influence, would be shielded from accountability.

Under his stewardship, the EFCC has intensified the prosecution of complex financial crimes, particularly cases involving public institutions and large-scale diversion of funds.

Observers say the sentencing of a former chief executive of a government-owned bank underscores the EFCC’s determination to restore public confidence in the anti-corruption fight and sends a strong signal that financial misconduct will attract severe consequences.

The judgment is regarded as one of the most significant convictions secured against a former banking chief in recent years, reinforcing the agency’s resolve to clamp down on economic crimes within Nigeria’s financial sector.

During his tenure at NEXIM Bank, Orya was initially credited with efforts to reposition the institution to support non-oil exports and improve its financial standing after earlier setbacks.

However, his administration later became enmeshed in controversies, including allegations of loan disbursement irregularities and procedural abuses.

The case, which culminated in Thursday’s judgment, centred on findings that Orya diverted public funds estimated at N2.4 billion—offences that ultimately led to his conviction and lengthy prison sentence.


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NRS Chairman Outlines Ways Nigeria can Move from Potential to Economic Prosperity

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Zacch Adedeji, chairman of the Nigeria Revenue Service (NRS) has called for a paradigm shift in dependence on raw material exports to one that embrace ideas, innovation and the production of complex products as a pathway to sustainable economic growth and national prosperity.

Adedeji made the submission while delivering the maiden distinguished personality lecture of the Faculty of Administration, Obafemi Awolowo University (OAU), Ile-Ife, Osun State, on Thursday.

A statement by his Special Adviser on Media, Dare Adekanmbi, said Adedeji, in the lecture entitled, ‘From Potential to Prosperity: Export-led Economy’, stressed the need to rethink growth through the lens of complexity by not just producing more of the same stuff.

He lamented that Nigeria possesses a high-tech oil sector and low-productivity informal sector as well as lacking “the vibrant, labour-absorbing industrial base that serves as a bridge to higher complexity.”

The NRS boss stated that Nigeria witnessed stagnation in its exportation drive for three decades between 1998 to 2023, and only added six new products in its export basket list between 2008 and 2023.

“Because of our current position, the Harvard Atlas concluded that we are positioned to take advantage of very few opportunities to diversify using what we already know.”

Adedeji urged Nigeria to learn from the world by comparative study of success and failure like Vietnam, Bangladesh, Indonesia, South Africa and Brazil.

“We are not just looking at numbers in a vacuum; we are looking at the strategic choices made by nations like Vietnam, Indonesia, Bangladesh, Brazil, and South Africa over the same twenty-five-year period. While there are many ways to under perform, the path to success is remarkably consistent: it is defined by a clear strategy to build economic complexity.

“When we put these stories together, the divergence is clear. Vietnam used global trade to build a resilient, complex economy, while the others remained dependent on natural resources or a single low-tech niche.

“There are three big lessons here for us in Nigeria as we think about our roadmap. First, avoiding the resource curse is necessary, but it is not enough. You need a proactive strategy to build productive capabilities.

“Vietnam’s success came from integrating itself into Global Value Chains (GVCs). They positioned themselves as the assembly hub for the world’s electronics, importing high-tech parts and exporting finished products.

“This allowed them to “borrow” technology and management skills from abroad to build their own know-how.

“Nigeria, on the other hand, remains a supplier of raw materials to these chains, not an active participant within them. We must realise that productive capabilities are not permanent. The examples of South Africa and Brazil show us that you can actually lose your industrial edge if you are not careful. Over-reliance on the easy path of resource extraction creates economic and political incentives that crowd out the difficult, long-term work of building an industrial base.”

He added that for Nigeria, which is at an even earlier stage of development and even less diversified than these nations, the warning is stark.

“Relying solely on our natural endowments isn’t just a path to stagnation; it’s a path to regression. The global economy increasingly rewards knowledge and complexity, not just what you can dig out of the ground. If we want to move from potential to prosperity, we must stop being just a source of raw materials and start being a source of ideas, innovation, and complex products.

He added that President Bola Tinubu has already begun the difficult work of rebuilding the economy to ensure collective knowledge to innovate, produce and build a resilient economy.

“The journey from potential to prosperity is not a short one, but with the right map and the right resolve, it is a journey we can finally complete,’ he added.

 


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