Ogun State gains from $2.5B foreign investment in Nigeria's livestock sector

Ogun State is set to benefit from a $2.5 billion investment by JBS S.A., the world's largest protein producer, into Nigeria’s livestock sector. The announcement was made by JBS Controlling Shareholder Wesley Batista during a visit to Ogun State Governor Prince Dapo Abiodun in Abeokuta.  

Batista highlighted Nigeria’s strategic potential and JBS’s commitment to leveraging its expertise in livestock production for economic growth. Founded in 1953, JBS has grown into a global giant with $75 billion in annual revenue and operations across multiple countries, including the U.S., Canada, Australia, and the U.K. The company processes 80,000 cattle, 15 million chickens, and 25,000 lambs daily, along with producing packaged meat products and investing in diverse industries such as energy and finance.  

Governor Abiodun welcomed the investment, emphasizing Ogun’s commitment to infrastructure development, streamlined land acquisition, and cost-effective power supply for industries. He assured investors of a secure and business-friendly environment, pledging collaboration with President Bola Tinubu’s administration to enhance food security.  

John Coumantaros, Controlling Shareholder of EMN, praised Ogun’s infrastructure expansion, while Aisha Rimi, CEO of the Nigeria Investment Promotion Commission (NIPC), confirmed that JBS had conducted a technical assessment of the state. Over the next five years, the investment is expected to significantly boost Ogun’s agricultural productivity and economic growth, solidifying its position as a key player in Nigeria’s livestock industry.