Ogun State is set to benefit significantly as JBS, the world’s largest protein producer, plans to invest $2.5 billion in Nigeria’s livestock industry.
Wesley Batista, the Controlling Shareholder of JBS, announced this during a visit to Ogun State Governor, Prince Dapo Abiodun, in Abeokuta. The delegation, led by John Coumantaros, Controlling Shareholder of EMN, met with the governor to explore investment opportunities in the state’s agricultural and livestock sectors.
Batista described Nigeria as Africa’s economic hub with vast potential in human and natural resources, stating that JBS sees great opportunities for growth in the country.
“We had the privilege of meeting the Nigerian delegation in Brazil during President Bola Tinubu’s visit. Nigeria has immense growth potential, and we are serious about investing in beef, pork, and poultry production,” he said.
He noted that despite being JBS’s first time in Nigeria, the company sees strong similarities between Nigeria and Brazil, making it an ideal location for expansion.
“The leadership here is making significant efforts to attract investors, and we are confident we can bring our expertise to strengthen Nigeria’s livestock industry,” he added.
Founded in 1953 as a small beef slaughterhouse processing one cow per day, JBS expanded rapidly, reaching 600 cattle daily by 1957 and becoming Brazil’s largest beef producer in the 1990s.
Over the past two decades, the company has expanded to Argentina, the United States, and Australia, and now operates in multiple countries, including Canada, the UK, Italy, and France.
With annual revenues of $75 billion and a workforce of 280,000, JBS processes 80,000 heads of cattle, 15 million chickens, and 25,000 lambs daily while also producing packaged products like sausages and bacon.
Governor Abiodun, speaking on Ogun’s investment potential, emphasized the state’s strategic location and infrastructure.
“With over 16,000 square kilometers of land, Ogun is the gateway to 17 southern states and the northern regions of Nigeria. We have built 1,000 kilometers of highways and the best agro-focused airport in the country, facilitating agricultural imports and exports,” he stated.
He highlighted the state’s dominance in non-oil investment, noting that “Ogun sits on one of Africa’s largest limestone deposits and ranks as the third-largest cement producer on the continent. Our mineral resources, including gold, silica, and bitumen, further enhance our investment appeal.”
Abiodun assured investors of access to affordable power, streamlined land acquisition, and improved security. “We are working towards energy generation and distribution to ensure industries in Ogun have access to the cheapest power supply in Nigeria.
Land title documents will also be processed within 30 days to ease business operations,” he said.
John Coumantaros, leader of the visiting delegation, commended Ogun’s infrastructure development, stating that it has created an attractive environment for investors.
“President Tinubu’s economic reforms have made Nigeria more appealing for investment, and Governor Abiodun’s efforts in infrastructure have positioned Ogun as a prime destination for businesses like JBS,” he remarked.
He emphasized that the JBS investment would revolutionize Nigeria’s livestock sector, enhance protein availability, and strengthen the country’s food value chain.
“This investment will support modern slaughterhouses, piggery and poultry farms, and local production of maize and soybeans for animal feed. The goal is to develop a complete ecosystem from farm to consumer, driving economic growth and improving food security,” he explained.
Aisha Rimi, Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC), confirmed that the meeting followed technical assessments conducted by JBS, adding,
“The company has committed to investing $2.5 billion over the next five years, and Ogun State will be among the primary beneficiaries of this initiative.”
