Ogun State recognized as Nigeria’s premier investment hub, is poised to reap substantial benefits as JBS S.A., the world’s largest protein producer, announces a $2.5 billion investment in Nigeria’s livestock subsector.
The announcement was made by Mr Wesley Batista, Controlling Shareholder of JBS, during a visit to Ogun State Governor, Prince Dapo Abiodun, at his office in Oke-Mosan, Abeokuta, as Batista was accompanied by Mr John Coumetarols, Controlling Shareholder of EMN, alongside other officials of JBS.
Highlighting Nigeria’s strategic position as Africa’s most populous nation, Batista emphasized the country’s vast potential in human and natural resources and expressed JBS’s readiness to leverage its expertise in livestock production to contribute to Nigeria’s economic development.
Providing insight into the company’s evolution, Batista recounted JBS’s humble beginnings in 1953, when it processed just one cow per day.
“By 1957, daily operations had expanded to 600 cattle in a single beef plant, and by the 1990s, JBS had emerged as Brazil’s largest beef producer. Today, the company generates annual revenues of approximately $75 billion and employs 280,000 staff across multiple countries, including the United States, Mexico, Canada, Australia, New Zealand, the United Kingdom, Italy, and France”.
According to reports, JBS currently processes 80,000 heads of cattle,15 million chickens, and approximately 25,000 lambs daily.
The company also manufactures packaged meat products such as sausages and bacon while maintaining investments in diverse sectors including energy, paper production, banking, finance, and consumer goods such as soap and toiletries.
Governor Abiodun welcomed the investment, emphasizing Ogun State’s commitment to infrastructure development, including power generation and distribution. He assured potential investors that industries operating within the state would benefit from Nigeria’s most cost-effective power supply.
Regarding land acquisition, Governor Abiodun stated that the process has been streamlined, ensuring that title documents are issued within 30 days, reaffirming his administration’s significant investments in security to safeguard lives and property.
The governor pledged to collaborate with President Bola Tinubu’s administration to enhance food security and mitigate food scarcity and inflation in Ogun State and Nigeria at large.
He commended JBS for its impressive global expansion and expressed eagerness to see the company establish its presence in the state.
John Coumetarols lauded Governor Abiodun’s efforts in expanding infrastructure, which he said has driven increased investment and economic development. He also noted that President Tinubu’s administration is focused on improving Nigeria’s macroeconomic conditions through major infrastructure projects spanning the country.
In her remarks, Aisha Rimi, Chief Executive Officer of the Nigeria Investment Promotion Commission, NIPC, stated that the meeting followed a technical assessment conducted by JBS to evaluate Ogun State’s investment potential.
She confirmed that the company plans to invest $2.5 billion over the next five years, with Ogun State set to be a key beneficiary of this initiative.
Radio Nigeria/Deborah Ige
