THE ECONOMIC IMPACT OF MULTINATIONAL CORPORATIONS IN NIGERIA: A CASE STUDY OF COCA-COLA BOTTLING COMPANY (2015-2020)
Abstract
This research project is an outcome of an empirical research on the economic impact of the Coca-Cola Company as a multinational corporation in Nigeria. The study examines the economic impact of Multinational Corporations (MNC) in Nigeria with a specific focus on the Coca-Cola Bottling Company in Nigeria. Methodologically, the study adopts a qualitative research approach. This follows a systematic literature search and review to find, collate, analyze and synthesize insights from relevant knowledge products, including reports, policy briefs, fact sheets from grey literature, as well as books, journal articles, and other sources of documented evidence in academic literature and public media, The study reveals that the Coca-Cola Company has a significant economic impact in Nigeria. Specifically, the study discovers that the Coca-Cola Company has played a pivotal role in the areas of poverty alleviation, tax revenue and the provision of employment opportunities in Nigeria. The Coca-Cola System in Nigeria, through investments and initiatives, contributes significantly to job creation and economic growth, supporting local communities and various value chain areas. The Coca-Cola System directly employs approximately 6,152 people in Nigeria. For every direct job created, up to 10 additional jobs are created in related industries. Moreover, the Coca-Cola Company contributes almost N90 billion in revenue to the Nigerian government. Coca-Cola has invested $1.5 billion in Nigeria over the last 10 years. The study recommends among other things the reduction of bureaucratic complexity, development of infrastructure, avoidance of confrontational politics, political stability and improvement of law and order for the smooth operation of multinational corporations in Nigeria.
Keywords: Multinational Corporations, Economy, Nigeria, Coca-Cola
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