CurrentReport Blog Ogun State, Nigeria’s leading investment hub, is set to receive a significant economic boost as JBS, the world’s largest protein producer, has announced plans to invest $2.5 billion in Nigeria’s livestock sector. This ambitious investment comes after JBS officials, led by Controlling Shareholder Wesley Batista, met with Ogun State Governor Prince Dapo Abiodun in Abeokuta on Sunday to discuss the potential for expanding the company’s operations in Nigeria.
JBS, a global leader in the production of beef, pork, chicken, and other protein products, is seeking to leverage Nigeria’s vast human and natural resources to expand its business footprint. The company, which currently processes millions of livestock daily across its global operations, sees Nigeria as a key market for growth due to its large population and the increasing demand for protein-rich food.
During the meeting, Batista expressed JBS’s commitment to bringing its expertise in livestock processing to Nigeria, citing similarities between Brazil and Nigeria that make the country an attractive investment destination. “We see Nigeria as the hub of Africa with a very large population,” Batista said. He further emphasized that the company is eager to bring its knowledge in beef, pork, and chicken production to help address Nigeria’s growing demand for protein and boost the local economy.
The investment, which will be spread over the next five years, is expected to significantly enhance Nigeria’s livestock industry, creating jobs and promoting food security in the country. JBS has plans to establish state-of-the-art slaughterhouses, piggery farms, poultry farms, and develop a value chain that will span from farming to final consumer products. The company’s extensive experience in producing packaged products such as sausages and bacon will also play a vital role in developing Nigeria’s food processing sector.
Governor Abiodun welcomed JBS’s decision to invest in Ogun State, highlighting the state’s ideal location and infrastructure as key factors in attracting such a major investment. “Ogun State offers unique connections to the 17 southern states and northern parts of the country. We have invested heavily in infrastructure, including 1,000 kilometers of highways and a dedicated airport for agro imports and exports,” he stated. The governor also mentioned that Ogun is a leading producer of cement in Africa and has vast natural resources, including limestone, gold, and gas, making it an attractive destination for businesses.
Ogun State’s commitment to ensuring a conducive business environment was also highlighted. Governor Abiodun assured investors that land acquisition processes have been streamlined, with land title documents available within 30 days. Furthermore, the state has made significant investments in security to ensure the safety of businesses and residents.
The announcement of JBS’s $2.5 billion investment is a major win for both Ogun State and Nigeria’s livestock sector, positioning the country as a significant player in global protein production. The partnership aligns with Nigeria’s efforts to achieve food sufficiency, reduce food inflation, and ensure national food security.
John Coumantaros, the leader of JBS’s delegation, praised Governor Abiodun’s efforts in improving Ogun’s infrastructure, noting that such development is crucial in attracting large-scale investments. Coumantaros also commended President Bola Tinubu’s administration for creating a favorable environment for investment, stating that the ongoing infrastructure development initiatives will benefit the entire country.
As JBS moves forward with its investment plans, Ogun State is poised to benefit from job creation, infrastructure development, and a strengthened livestock value chain that will significantly contribute to Nigeria’s economic growth.
