Ogun State has solidified its position as Nigeria’s leading investment hub as JBS, the world’s largest protein producer announced plans to invest $2.5 billion in the state’s livestock sector.
The Brazilian agribusiness giant, which operates across multiple continents, expressed its commitment to expanding into Nigeria following engagements with the Nigerian delegation during President Bola Tinubu’s visit to Brazil.
The Controlling Shareholder of JBS, Wesley Batista, disclosed this when he led a delegation to Governor Dapo Abiodun at the Ogun State Government House in Abeokuta. Accompanied by the Controlling Shareholder of EMN, John Coumantaros, Batista emphasized Nigeria’s strategic importance in Africa and highlighted the country’s vast potential for livestock development.
“We had the privilege to meet the Nigerian delegation in Brazil when President Bola Tinubu visited our country. We see Nigeria as the hub of Africa with very large population,” Batista said.
Providing insights into the company’s history, Batista explained that JBS started in 1953 as a small beef processing operation and has since expanded into a global powerhouse, operating facilities in the United States, Mexico, Canada, Australia, New Zealand, the United Kingdom, Italy and France.
With an annual revenue of approximately $75 billion, JBS processes 80,000 heads of cattle, 15 million chickens, and about 25,000 heads of lamb per day while also producing packaged meat products such as sausages and bacon.
Governor Abiodun welcomed the proposed investment, describing Ogun State as an ideal destination for large-scale agribusiness. He outlined key infrastructural advancements aimed at enhancing the ease of doing business, including a well-constructed agro-dedicated airport and over 1,000 kilometers of modern highways connecting the state to major markets across Nigeria.
“We have provided, in terms of infrastructure, 1,000 kilometers of highways and the best-constructed airport in Nigeria, specially dedicated to agro imports and exports.
“We are number one in non-oil, as two-thirds of the state sits on limestone. Our state is the third-largest producer of cement in Africa, trailing behind Morocco, which is second, and Egypt, which is first,” the governor stated.
Abiodun further emphasized the state’s rich deposits of natural resources, including gold, silica, bitumen, and extensive gas reserves, which provide an energy advantage for industries. He assured investors of the government’s commitment to improving power generation and distribution, promising that companies operating in Ogun State would have access to the most affordable energy supply in the country.
On land acquisition, the governor disclosed that his administration had streamlined processes to enable investors to obtain land title documents within 30 days. He also highlighted the state’s robust security framework, ensuring the safety of businesses and residents.
John Coumantaros, leader of the delegation, commended the state’s investment-friendly policies, noting that the JBS group was in Ogun to assess its viability for expansion. He acknowledged the macroeconomic reforms introduced by President Tinubu’s administration, stating that they have created a more conducive environment for foreign direct investment.
“Tinubu has made it possible to attract investors like this, and Governor Abiodun is here to make the program possible because protein is critical for the growth of Nigeria, building modern slaughterhouses, establishing piggery and poultry farms, and going back to see how we can produce maize and soya beans of good yields and its value chain from farm to customers, making the ecosystem beneficial to the growth of the country and the entire Gross Domestic Product,” Coumantaros said.
The Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC), Aisha Rimi, confirmed that JBS had already conducted preliminary assessments and was prepared to invest $2.5 billion over the next five years with Ogun State positioned as a key beneficiary.
With this development, Ogun State is set to witness a major boost in its agricultural sector, creating employment opportunities, strengthening local food production and reinforcing Nigeria’s bid for food security.
