Ogun State is set to benefit significantly as JBS, the world’s largest protein producer, has committed to investing $2.5 billion into Nigeria’s livestock sector.
The announcement was made during a visit by Wesley Batista, JBS’s controlling shareholder, to Ogun State Governor Prince Dapo Abiodun in Abeokuta on Sunday.
Batista praised Nigeria’s vast potential, describing it as “Africa’s economic hub with vast human and natural resources,” adding, “We are serious about coming to Nigeria to invest in beef, pork, chicken, among others. We see growth prospects here and appreciate what Nigerian leaders are doing to encourage investors.”
The investment, which will span five years, is part of JBS’s strategy to expand beyond Brazil and enhance its expertise in livestock production across Africa.
“Though it is our first time in Nigeria, we feel that we have a lot of similarities between Brazil and Nigeria,” Batista remarked.
Governor Abiodun highlighted Ogun’s ideal location for investment, citing its connections to both southern and northern Nigeria, along with its impressive infrastructure, including 1,000 kilometers of highways and the best-constructed airport dedicated to agro imports and exports.
He emphasized the state’s rich natural resources, which include limestone, gold, and gas, and assured potential investors of a secure environment for business.
“Investors in Ogun will have access to the cheapest power supply in the country,” he added. “We have also streamlined land acquisition, with land title documents ready within 30 days.”
John Coumantaros, head of the JBS delegation, commended the governor for his efforts in improving Ogun’s infrastructure, making it a more attractive investment destination. He noted, “Protein is critical for the growth of Nigeria, and this investment will support the development of modern slaughterhouses, poultry farms, and a sustainable food ecosystem.”
The investment is seen as a significant step toward boosting Nigeria’s agricultural economy and ensuring food security across the country.