Ogun State is poised for a major boost in livestock production as JBS, a top Brazilian meat processing company, announces a $2.5 billion investment in Nigeria.
The controlling shareholder of JBS, Wesley Batista, confirmed this during a visit to Ogun State Governor, Dapo Abiodun, in Abeokuta on Sunday.
Batista’s delegation included John Coumantaros, the controlling shareholder of EMN, who emphasized the company’s commitment to developing Nigeria’s livestock sector.
Eyeing Nigerian Market
“We have been studying Nigeria’s market and see huge opportunities,” Coumantaros said. “We first engaged with the Nigerian delegation during President Bola Tinubu’s visit to Brazil. Nigeria is the hub of Africa, with a large and growing population.”
He added, “This is our first visit, but we already see strong similarities between Brazil and Nigeria. We are excited about investing in beef, pork, and chicken production. The Nigerian government is creating an investor-friendly environment, and we believe we can contribute our expertise to the country’s economic growth.”
JBS, one of the world’s largest meat processors, currently handles 80,000 heads of cattle, 15 million chickens, and 25,000 lambs daily across several countries. The company also produces packaged meat products such as sausages and bacon.
The Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC), Aisha Rimi, described the meeting as a follow-up to the company’s technical assessment of Ogun State’s investment potential. She revealed that JBS plans to invest $2.5 billion over the next five years, with Ogun State among the key beneficiaries.
Governor Abiodun Welcomes Investment
Governor Abiodun highlighted Ogun State’s strategic advantages for investors. “With over 16,000 square kilometers, we provide ideal connections to 17 southern states and the northern region,” he said.
“We have invested in infrastructure, building 1,000 kilometers of highways and the best agro-dedicated airport in Nigeria for imports and exports.”
He also emphasized Ogun’s industrial potential. “We lead in non-oil exports and have significant limestone deposits, making us Africa’s third-largest cement producer after Morocco and Egypt. We also have gold, silica, bitumen, and an extensive gas supply network.”
Governor Abiodun assured investors of seamless land acquisition, with land title documents processed within 30 days. He also reaffirmed the state’s commitment to power generation, ensuring businesses receive affordable electricity.
“Our administration prioritizes security, ensuring Ogun remains a safe and productive destination for investors,” he added.
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