Nigeria’s leading investment destination is poised to reap significant economic benefits as JBS, the world’s largest protein producer, has announced plans to invest $2.5 billion in Nigeria’s livestock sector. The investment, aimed at boosting beef, pork, and chicken production, underscores Ogun State’s growing reputation as a hub for agricultural and industrial development.
The announcement was made during a high-level meeting between JBS executives, led by Controlling Shareholder Mr. Wesley Batista, and Ogun State Governor Prince Dapo Abiodun at the Governor’s Office in Abeokuta on Sunday. The delegation, which included Mr John Coumantaros, a Controlling Shareholder of EMN, discussed the potential for collaboration in transforming Nigeria’s livestock industry.
Mr. Batista highlighted Nigeria’s strategic importance as Africa’s most populous nation and its vast human and natural resources. “We see Nigeria as the hub of Africa with a very large population. Though it is our first time in Nigeria, we feel that we have a lot of similarities with Brazil. We are serious about investing in beef, pork, chicken, and other livestock sectors here,” he said.
He added that JBS is committed to leveraging its expertise to contribute to Nigeria’s economic growth, citing the country’s favourable investment climate and the efforts of Nigerian leaders to attract foreign investors. “We can bring our knowledge and expertise to bear in Nigeria’s economy,” Batista emphasized.
JBS, founded in 1953, has grown from slaughtering one cow per day to becoming a global powerhouse in protein production. The company now operates in over 15 countries, including the United States, Australia, and Argentina, with annual revenues of approximately $75 billion. It processes 80,000 heads of cattle, 15 million chickens, and 25,000 heads of lamb daily, alongside producing packaged products like sausages and bacon.
Governor Abiodun, in his remarks, highlighted Ogun State’s strategic advantages, including its extensive infrastructure, abundant natural resources, and proximity to key markets. “Ogun State offers an ideal location for investments, with unique connections to 17 southern states and northern Nigeria. We have invested heavily in infrastructure, including 1,000 kilometres of highways and the best-constructed airport in Nigeria, dedicated to agro-imports and exports,” he said.
The governor also emphasized the state’s rich mineral resources, including limestone, gold, silica, and bitumen, as well as its leadership in non-oil exports. “We are the third-largest producer of cement in Africa, trailing only Morocco and Egypt,” he noted. Additionally, Abiodun assured investors of seamless land acquisition processes and robust security measures to safeguard lives and property.
The JBS delegation, led by Mr John Coumantaros, praised Governor Abiodun for his administration’s efforts in developing infrastructure and creating an enabling environment for investments. Coumantaros also commended President Bola Tinubu’s administration for its commitment to improving Nigeria’s macroeconomic conditions and infrastructure development, which he said has made the country more attractive to global investors.
“Protein is critical for Nigeria’s growth, and we are here to assess the viability of establishing modern slaughterhouses, piggery and poultry farms, and improving the production of maize and soya beans. This investment will benefit the entire ecosystem and contribute to Nigeria’s Gross Domestic Product,” Coumantaros stated.
The Nigeria Investment Promotion Commission (NIPC) CEO, Aisha Rimi, confirmed that the meeting was a follow-up to a technical assessment conducted by JBS in Ogun State. She revealed that the company plans to invest $2.5 billion over the next five years, with Ogun State set to be a major beneficiary.
This landmark investment by JBS is expected to create thousands of jobs, enhance food security, and position Ogun State as a key player in Nigeria’s agricultural and livestock sectors. Governor Abiodun expressed optimism about the partnership, stating, “We look forward to seeing JBS establish itself in Ogun State and contribute to our vision of a prosperous and food-secure Nigeria.”
*End*
