CAPPA to FG: Coca-Cola’s $1bn investment pledge is a hollow promise

The Corporate Accountability and Public Participation Africa says Coca-Cola’s promise of a $1 billion investment in Nigeria is a hollow pledge.

“In 2017, a Lagos High Court issued a damning judgement against the company, revealing that its products were unfit for consumption as they contain high levels of sunset yellow and benzoic acid which, according to European and American food and drug agencies, can form the carcinogen benzene when combined with ascorbic acid .

“For instance, the company had provided false information to the FCCPC in violation of the Commission’s rules and had also deceived consumers by dishonestly selling its ‘Less Sugar’ variant as identical to the original Coca-Cola product. “The question the Nigerian government must ask itself in light of all this is what truly it stands to gain by endorsing a multinational corporation with a dark history of non-compliance, and whose products are even actively contributing to a public health crisis in the country?” he said.

“The Nigerian state must reconsider its fawning over Coca-Cola, as its snug relationship with the corporation while simultaneously enforcing a pro-public health tax sends mixed signals.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

FCCPC indictment: Coca-Cola visits Tinubu, eyes $1bn investment in NigeriaCoca-Cola Hellenic Bottling Company said it plans to invest $1 billion in Nigeria in expansion of its business in over five years. The Chief Executive Officer of the company, Mr Zoran Bogdanovic, made this known during his visit to President Tinubu Bola Ahmed Tinubu.
Herkunft: DailyPostNGR - 🏆 11. / 59 Weiterlesen »

Coca-Cola to provide Economic Boost via $1bn Investment in NigeriaThe US $1 billion investment will support job creation across the value chain
Herkunft: PremiumTimesng - 🏆 3. / 78 Weiterlesen »

REWIND: In 2021, Coca-Cola made similar pledge of $1bn investment to NigeriaThe Coca-Cola Hellenic Bottling Company, on September 19, pledged a fresh $1 billion investment to Nigeria.
Herkunft: thecableng - 🏆 2. / 80 Weiterlesen »

Don’t fall for Coca-Cola’s $1bn investment promiseThe Corporate Accountability and Public Participation Africa, CAPPA, has told President Bola Tinubu not to be deceived by Coca-Cola's pledge to invest $1 billion investment in Nigeria. CAPPA spokesperson Robert Egbe gave the advise in a statement made available to DAILY POST on Wednesday.
Herkunft: DailyPostNGR - 🏆 11. / 59 Weiterlesen »