SaharaReporters recently reported that Coca-Cola and the Nigerian Bottling Company Ltd were accused of intentionally misleading Nigerians in an attempt to sell its Coca-Cola less sugar variant.
After being indicted in the violation of operational standards in Nigeria, Coca-Cola has gone ahead to pledge the sum of $1 billion investment in Nigeria, about three years after failing to fulfil a similar promise.
SaharaReporters recently reported that Coca-Cola and the Nigerian Bottling Company Ltd were accused of intentionally misleading Nigerians in an attempt to sell its Coca-Cola less sugar variant.
This indictment was made by the Federal Competition and Consumer Protection Commission (FCCPC), in its report after an extensive investigation.
NBC is a member of the Coca-Cola Hellenic Bottling Company A.G, an anchor bottler for The Coca-Cola Company in 29 countries.
The FCCPC stated that Coca-Cola and NBC knowingly and intentionally applied a “trade description to the Coca-Cola less sugar variant that could reasonably mislead consumers as to the nature and feel of the drink, in such a manner that consumers would assume that the product was the Coca-Cola original taste variant”.
According to the agency, the act is a violation of Section 116 (1) and (2) of the FCCPA.
The commission also stated that it received multiple complaints associated with this, and “as such also concludes based on the evidence, that consumers were indeed, and as a matter of fact misled by the false and inaccurate portrayal of Coke Original Taste Less Sugar as Coke Original Taste.”
The development started in October 2018 and has continued unabated till date, the agency noted.
Just over a month after, Coca-Cola executives visited the Nigerian President, Bola Ahmed Tinubu, pledging a $1 billion investment in the country.
Announcing the development, President Bola Tinubu, according to a statement posted by his Special Adviser Information and Strategy, Bayo Onanuga, commended Coca-Cola for its long-standing partnership with Nigeria and for promoting investment opportunities that have employed over 3,000 people across nine production facilities.
''We are business-friendly, and as I said at my inauguration, we must create an environment of easy-in and easy-out for businesses.
''We are building a financial system where you can invest, re-invest, and repatriate all your dividends. I have a firm belief in that,” he said.
In 2021, Coca-Cola announced a similar promise of $1 billion investment into Nigeria, which it failed to fulfil.
Defending their failure to fulfil the 2021 promise, the Nigerian Presidency blamed the inability of Coca-Cola to fulfil the promise which was much celebrated in 2021, on taxes.
Onanuga said, “Yes, the company made a similar promise three years ago. But it couldn’t fulfill it because of the challenging business environment prevailing in Nigeria then. As the company's spokesperson said, while the company made the commitment in 2021, it was also hit by excise taxes.
“Our investment pledges are always predicated on a predictable and stable environment. The $1 billion pledge has now been renewed based on the stable environment, which has been promised through the Tinubu government economic stabilisation plan."