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Coca-Cola Announces Plan To Invest $1bn In Nigeria

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Coca-Cola Hellenic Bottling Company says it will invest $1 billion in Nigeria over the next five years.

The investment commitment was made during a meeting with Coca-Cola’s global leadership team, including John Murphy, president and chief financial officer, and Segun Apata, chairman of Nigerian Bottling Company.

Reacting to the development in a statement on Thursday, President Bola Tinubu commended Coca-Cola for its long-standing partnership with Nigeria and for employing over 3,000 people across nine production facilities.

Tinubu said the investment highlights his administration’s commitment to creating a robust financial system and a business-friendly economy.

“We are business-friendly, and as I said at my inauguration, we must create an environment of easy-in and easy-out for businesses,” the statement reads.

“We are building a financial system where you can invest, re-invest, and repatriate all your dividends. I have a firm belief in that.”

Tinubu said private sector partnerships are crucial to his government’s reforms aimed at improving the business environment.

He pledged to continue to support Coca-Cola for expanding its investments in Nigeria and addressing environmental issues, including climate change.

Murphy, speaking on Coca-Cola’s impact in Nigeria, said the company generates ₦320 billion annually through nearly 300,000 customers and contributes almost ₦90 billion in revenue to the Nigerian government.

“We are very proud of the growth of the business over a long period and its impact on the daily lives of many Nigerians,” he said.

Zoran Bogdanovic, CEO of Coca-Cola Hellenic Bottling Company, attributed the company’s $1 billion investment pledge to its confidence in the Nigerian government’s policies.

“Mr President, in your inaugural address, we were very pleased to hear of your invitation for foreign investors to invest and your assurance that foreign businesses can repatriate dividends and profits,” the CEO said.

“That assurance gives us the confidence to continue our investments. Since 2013, we have invested $1.5 billion in Nigeria in capacity expansion, transformation of our supply chain infrastructure capabilities, training and development.

“I am very pleased to announce that, with a predictable and enabling environment in place, we plan to invest an additional $1 billion over the next five years.”

Bogdanovic said Nigeria’s potential is tremendous, pledging the company’s commitment to work with the government to realise it.

In November 2021, the beverage manufacturer had pledged to inject $1 billion into Nigeria’s economy.

BIG STORY

Court Jails Gospel Singer Moses Otitoju, Eight Others For Cybercrime

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The Federal High Court in Ilorin, Kwara State, has sentenced Moses Otitoju, a self-proclaimed gospel singer, and eight others to prison for crimes linked to cybercrime, conspiracy, and misuse of funds.

Otitoju was sentenced along with Ayodele Joseph, Adeoye Joseph, and Abubakar Abdulmalik, all charged with similar offences by the anti-corruption agency.

The charges were filed by the Ilorin Zonal Office of the Economic and Financial Crimes Commission.

According to a statement issued Friday by Dele Oyewale, Head of Media and Publicity at the EFCC, the 31-year-old gospel singer from Iyamoye in Ijumu Local Government Area of Kogi State was sentenced to six months in prison by Justice Abimbola Awogboro without the option to pay a fine.

Otitoju was convicted for keeping over N8.4 million in his bank account, which was traced to illegal activities.

One of the charges read, “That you, Otitoju Moses Sesan, sometime between October 2024 and December 2025, within the jurisdiction of this honourable court, did retain control of the gross sum of N8,404,339 in your account, being proceeds of criminal conduct, thereby committing an offence contrary to and punishable under Section 17(a) and (b) of the EFCC Act, 2004.”

Ayodele, who had N243,750 in his account, received an eight-month jail sentence without an option of fine.

His Tecno 19 phone was confiscated by order of the court and handed over to the Federal Government.

Adeoye, a native of Okene LGA in Kogi State, was also sentenced to eight months without the option of a fine.

He forfeited $220, an iPhone 13, and a Tecno Pop 9 phone to the Federal Government.

Abubakar was handed a six-month prison term. His iPhone 16 and Samsung S10 were also ordered forfeited to the Federal Government.

EFCC prosecutors Aliyu Adebayo, Sesan Ola, Rashidat Alao, and Mustapha Kaigama led the cases, presenting statements, exhibits, and recovered funds as evidence, all of which were admitted in court.

In another case, Justices Haleema Saleeman and Sulaiman Akanbi of the Kwara State High Court found Emeka Achi, Isaac Oluwafemi, Afolabi Olatoye, Zubeiru Zubeiru Junior, and Abdulkadir Taofeek guilty of cybercrime and diversion of funds.

Justice Akanbi sentenced Abdulkadir to three years in prison with an option to pay a N500,000 fine, and ordered that N800,000, an iPhone 14 Pro Max, and a Samsung phone be permanently forfeited to the Federal Government.

Justice Saleeman sentenced Emeka, Isaac, and Afolabi to six months in jail each, with the option to pay N100,000 as a fine.

In addition, Emeka was ordered to repay N3.35 million within three months and report to the EFCC every two weeks alongside his parents until full payment is made.

Tunde Oyekola

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Kogi University Lecturer Dies During Sex Romp In Hotel Room With 200-Level Student

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A senior lecturer at Kogi State University, Anyigba, named Dr. Olabode Abimbola Ibikunle, reportedly died in a hotel room following a sexual encounter with a 22-year-old student in her second year.

It was reported that the event happened on Tuesday, July 15, and the police at Anyigba were alerted shortly after. The student involved was taken into custody for questioning.

The lecturer, known across the university for his strict approach, was allegedly infamous for taking advantage of female students in return for academic favours.

Sources claim Dr. Ibikunle, who was married with children, had booked a room in a hotel alongside the student, who is studying Social Studies Education.

According to those familiar with the situation, the lecturer consumed several energy drinks prior to the incident, presumably in anticipation of vigorous activity.

Unfortunately, the lecturer collapsed and passed away during the act.

The Kogi State Police Command verified the incident to SaharaReporters on Friday, labeling it as unfortunate.

In a statement to SaharaReporters, the Command’s spokesperson, SP William Ovye Aya, stated that the student had been moved to the State Criminal Investigation Department (SCID) for deeper inquiry and potential charges.

Aya explained: “The report was received on July 16, but the unfortunate incident happened on July 15, 2025. It was the manager of the hotel (name not disclosed), who came to the police station at Anyigba and reported about his guest, the lecturer who had lodged in their facility with a 22-year-old 200-level student, 22 years old, named Gloria Samuel.

“According to the manager, the girl on that fateful day rushed to the reception and complained that the lecturer took her to the hotel, and after they had sex, the man slumped.

“So the manager rushed and informed the DPO, and the DPO rushed to the scene, and they moved the man to the hospital. On arrival, a doctor on duty confirmed the lecturer’s death.

“So the girl in question has been transferred from Anyigba Police Division to the State CID for further investigation and prosecution. An autopsy has been conducted, but right now I don’t know whether the result of the autopsy is out because I haven’t spoken with the SCID.”

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BIG STORY

FULL LIST: Tinubu Appoints IBB’s Son, Muhammad Babangida Chairman Bank Of Agriculture, Others As Heads Of Govt Agencies

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President Bola Ahmed Tinubu has appointed Muhammad Babangida, the son of the former military President, as chairman of the revamped Bank of Agriculture.

President Tinubu approved the appointment today, along with seven others. Some of them will serve as chairmen or directors-general of Federal agencies.

Muhammad Babangida, 53, is an alumnus of the European University in Montreux, Switzerland, where he earned a Bachelor’s degree in Business Administration and a Master’s degree in Public Relations and Business Communication. He later attended Harvard Business School’s Executive Program on Corporate Governance in 2002.

Others appointed by the President are:

Lydia Kalat Musa (Kaduna State) Chairman, Oil and Gas Free Zone Authority (OGFZA).

Jamilu Wada Aliyu (Kano State) Chairman, National Educational Research and Development Council (NERDC).

The Hon. Yahuza Ado Inuwa (Kano State) is the Standard Organisation of Nigeria (SON) chairman.

Sanusi Musa (SAN, Kano State) is the Chairman of the Institute of Peace and Conflict Resolution(IPCR).

Prof. Al-Mustapha Alhaji Aliyu (Sokoto State) is the Director-General of the Directorate of Technical Cooperation in Africa (DTCA).

Sanusi Garba Rikiji (Zamfara State) is the Director-General of the Nigerian Office for Trade Negotiations (NOTN).

Mrs Tomi Somefun (Oyo State) is the Managing Director of the National Hydro-Electric Power Areas Development Commission (HYPPADEC).

Dr Abdulmumini Mohammed Aminu-Zaria (Kaduna State) has been appointed Executive Director of the Nigerian Integrated Water Resources Management Commission (NIWRMC).

 

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

July 18, 2025

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