Ogun State is poised to experience a significant economic boost as JBS, the world’s leading protein producer based in Brazil, has announced plans to invest $2.5 billion in Nigeria’s livestock sector over the next five years. The landmark investment, revealed during a high-profile visit to Ogun State Governor Prince Dapo Abiodun on Sunday, underscores Nigeria’s growing appeal as a hub for international business and positions Ogun as a key beneficiary of this transformative venture.
Wesley Batista, the Controlling Shareholder of JBS, led a delegation to the Governor’s office in Oke-Mosan, Abeokuta, accompanied by John Coumantaros, Controlling Shareholder of EMN, and Aisha Rimi, Chief Executive Officer of the Nigeria Investment Promotion Commission (NIPC). Batista expressed JBS’s confidence in Nigeria’s potential, citing its status as Africa’s most populous nation and the vast opportunities within its agricultural landscape. “Nigeria is the hub of Africa with a large population and enormous potential in human and natural resources. We are serious about coming here to invest in beef, pork, chicken, and more, bringing our knowledge and expertise to bear on the nation’s economy,” Batista stated.
The announcement follows a meticulous evaluation by JBS’s technical team, which assessed Ogun State’s investment prospects earlier this year. Rimi confirmed that Ogun is among the states shortlisted to benefit from the $2.5 billion commitment, highlighting the state’s strategic advantages. “This meeting is a follow-up to the groundwork laid by the technical team. Ogun State stands out as a prime location for this investment,” she noted.
Governor Abiodun welcomed the delegation with enthusiasm, emphasizing Ogun’s readiness to support such a significant partnership. He showcased the state’s robust infrastructure, including 1,000 kilometers of highways and a state-of-the-art airport dedicated to agro-imports and exports. “We have created an enabling environment with seamless land acquisition processes—title documents ready in 30 days—affordable power supply through our energy initiatives, and top-tier security to protect lives and investments,” Abiodun assured the investors. He also highlighted Ogun’s rich natural resources, including limestone, which positions the state as Africa’s third-largest cement producer, alongside gold, silica, bitumen, and extensive gas reticulation networks.
JBS, a global giant with a history dating back to 1953, has grown from slaughtering one cow per day to becoming a powerhouse with a $75 billion annual revenue and 280,000 employees worldwide. Operating hundreds of facilities across Brazil, the United States, Australia, and Europe, the company sees Nigeria as a critical frontier for its next phase of expansion. Batista shared the company’s journey: “We became the largest beef player in Brazil in the 1990s and expanded globally from 2005. Nigeria offers growth prospects we are eager to tap into.”
The investment is expected to revolutionize Nigeria’s livestock subsector, creating thousands of jobs, enhancing food security, and reducing reliance on imports. For Ogun State, the influx of capital promises to bolster its reputation as Nigeria’s top investment destination, a title reinforced by its track record of attracting major industries. Local stakeholders anticipate that JBS’s expertise will modernize livestock production, potentially positioning Nigeria as a regional leader in protein exports.
As discussions progress, the partnership between Ogun State and JBS signals a new era of economic collaboration between Nigeria and Brazil. With Governor Abiodun’s administration committed to facilitating this venture, residents and businesses alike are optimistic about the ripple effects of this $2.5 billion injection into the state’s economy. The coming years will reveal the full scope of this ambitious endeavor, but for now, Ogun State stands on the cusp of a historic transformation.
