By Abbas Nazil
Ogun State may soon benefit from a $2.5 billion investment in livestock production by JBS, a leading Brazilian meat processing company.
The company’s controlling shareholder, Wesley Batista, confirmed the investment plan during a visit to Governor Dapo Abiodun in Abeokuta, accompanied by John Coumantaros, the controlling shareholder of EMN.
JBS, known for its extensive global operations in beef, pork, and chicken production, aims to expand its footprint in Nigeria’s livestock sector.
Coumantaros highlighted that the investment would focus on enhancing beef, pork, and chicken production, bringing Brazil’s expertise to the Nigerian market.
He noted that Nigeria’s large population and economic potential make it a strategic location for their expansion.
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The company processes approximately 80,000 heads of cattle, 15 million chickens, and about 25,000 lambs daily worldwide, along with producing packaged products such as sausages and bacon.
The initiative follows Nigeria’s recent efforts to attract foreign direct investment, including engagements during President Bola Tinubu’s visit to Brazil.
Coumantaros expressed confidence in Nigeria’s business environment and leadership, stating that JBS sees significant growth prospects in the country.
The company has already sent a technical team to assess investment opportunities, and plans are in place to implement the $2.5 billion investment over the next five years, with Ogun State among the primary beneficiaries.
The Chief Executive Officer of the Nigeria Investment Promotion Commission, Aisha Rimi, emphasized that the investment aligns with Nigeria’s economic diversification strategy, particularly in the agriculture sector.
She noted that the company is eager to leverage Nigeria’s agricultural resources and contribute to local job creation and food production.
Governor Dapo Abiodun welcomed the investment, stressing Ogun State’s strategic advantages, with over 16,000 square kilometers of land, the state serves as a gateway to both southern and northern Nigeria.
