Ogun State is poised for a major economic boost as JBS, the world’s largest protein producer from Brazil, has announced plans to invest $2.5 billion in Nigeria’s livestock sector over the next five years.
The investment interest was revealed when JBS Controlling Shareholder, Mr. Wesley Batista, alongside EMN’s Controlling Shareholder, Mr. John Coumantaros, paid a courtesy visit to Ogun State Governor, Prince Dapo Abiodun, at his office in Abeokuta on Sunday.
Highlighting Nigeria’s vast potential, Batista described the country as Africa’s hub, praising its large population and rich natural resources. “We see growth prospects in Nigeria and are eager to bring our expertise in beef, pork, and chicken production here,” Batista said. He also emphasized the similarities between Brazil and Nigeria, expressing confidence in the country’s investment climate.
Founded in 1953, JBS has grown into a global protein giant, with revenues of about $75 billion and over 280,000 employees operating across continents, including the U.S., Australia, and Europe. The company processes 80,000 heads of cattle, 15 million chickens, and 25,000 lambs daily, alongside producing packaged goods like sausages and bacon.
Governor Abiodun showcased Ogun’s strategic advantages, emphasizing its 16,000 square kilometers of land, robust infrastructure, and connectivity to major markets. “We’ve built 1,000 kilometers of highways and Nigeria’s best agro-focused airport, making Ogun the ideal investment destination,” he noted.
Abiodun also highlighted the state’s abundant resources, including limestone, bitumen, and gold, alongside plans for increased power generation to offer industries the cheapest energy in the country. He assured investors of efficient land acquisition processes and enhanced security.
John Coumantaros commended Ogun’s infrastructure development, noting that the state’s progress aligns with President Bola Tinubu’s vision to transform Nigeria’s macroeconomic conditions. “Protein is vital for Nigeria’s growth, and JBS is here to explore opportunities in modern slaughterhouses, piggery, poultry, and crop farming,” Coumantaros said.
Aisha Rimi, CEO of the Nigeria Investment Promotion Commission (NIPC), confirmed that JBS’s technical team had already assessed Ogun’s potential and identified it as a prime location for the company’s ambitious $2.5 billion investment.
Governor Abiodun expressed optimism about the partnership, stating, “We look forward to welcoming JBS to Ogun and working together to boost food security, reduce inflation, and strengthen Nigeria’s agricultural economy.”
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