Ogun State is set to attract a massive boost in its livestock industry as Brazilian multinational JBS, the world’s largest protein producer, has announced plans to invest $2.5 billion in Nigeria.
The company’s controlling shareholder, Mr. Wesley Batista, revealed this during a visit to Ogun State Governor, Prince Dapo Abiodun, at his office in Oke-Mosan, Abeokuta, on Sunday. Batista, who was accompanied by John Coumantaros, the controlling shareholder of EMN, emphasized Nigeria’s potential as an investment hub in Africa.
“We see Nigeria as the hub of Africa with a very large population. We are serious about investing in beef, pork, and chicken production. We see growth prospects in Nigeria and what the leadership is doing to encourage investors,” Batista stated.
Founded in 1953, JBS started as a small beef processing plant in Brazil and has since expanded into a global leader in protein production. Today, the company boasts annual revenue of about $75 billion, employing 280,000 people across multiple countries, including the United States, Canada, Australia, and the United Kingdom.
The company processes 80,000 heads of cattle, 15 million chickens, and 25,000 lambs daily. It also produces packaged meat products like sausages and bacon and has interests in energy, paper production, finance, and consumer goods.
Governor Dapo Abiodun highlighted Ogun’s strategic advantages, describing it as Nigeria’s top investment destination.
“We have the best road infrastructure, an airport dedicated to agro imports and exports, and a gas reticulation network larger than any other state,” Abiodun said. “Ogun is also rich in limestone, gold, silica, and bitumen, making it a prime location for industrial investments.”
The governor assured potential investors of a seamless land acquisition process, with title documents ready within 30 days. He also reiterated his administration’s commitment to security, power generation, and food sufficiency.
John Coumantaros, leader of the visiting delegation, praised President Bola Tinubu’s administration for creating a favorable economic environment for investment. He noted that JBS is keen on establishing modern slaughterhouses, piggery and poultry farms, and boosting maize and soybean production to strengthen Nigeria’s protein supply chain.
The Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC), Aisha Rimi, confirmed that JBS has conducted technical assessments and is set to invest $2.5 billion in Nigeria’s livestock sector over the next five years, with Ogun State among the key beneficiaries.
With this major investment, Ogun State is poised to become a leading hub for livestock processing and protein production in Nigeria, further solidifying its status as an economic powerhouse.
