Business & Economy

Ogun State Poised for $2.5b JBS Investment

Published

1 month ago

Feb 24, 2025.

Ogun State Poised for $2.5b JBS Investment

JBS controlling shareholder Wesley Batista emphasized Nigeria’s strategic position as Africa’s economic hub, with its substantial population and abundant human and natural resources.
Giving a brief background of the company, Mr Batista narrated that it started in 1953 with slaughtering one cow per day and grew to 600 heads of cattle in one beef plant per day in 1957, becoming the largest beef player in Brazil in the 1990s.

JBS, the world’s leading protein producer based in Brazil, has expressed its intention to invest approximately $2.5 billion in Nigeria’s livestock subsector.

Eko Hot Blog reports that the announcement was made during a meeting between JBS officials, led by Mr. John Coumantaros, and Ogun State Governor Dapo Abiodun in Abeokuta.

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JBS controlling shareholder Wesley Batista emphasized Nigeria’s strategic position as Africa’s economic hub, with its substantial population and abundant human and natural resources.

He affirmed the company’s commitment to leveraging its expertise and experience in livestock management to contribute to Nigeria’s economic growth and food security.

“We have been talking and learning about Nigeria. We had the privilege to meet the Nigerian delegation in Brazil when President Bola Tinubu visited our country. We see Nigeria as the hub of Africa with a very large population.

“Though it is our first time in Nigeria, we feel that we have a lot of similarities between Brazil and Nigeria. We have a very good impression so far about Nigeria and Nigerians.

“We are serious about coming to Nigeria to invest in beef, pork, chicken, among others. We see growth prospects in Nigeria and what Nigerian leaders are doing in encouraging investors to come and make significant investments here.

We can bring our knowledge and expertise to bear in Nigeria’s economy,” he stated.

Giving a brief background of the company, Mr Batista narrated that it started in 1953 with slaughtering one cow per day and grew to 600 heads of cattle in one beef plant per day in 1957, becoming the largest beef player in Brazil in the 1990s.

“In the beginning of 2000, we started looking for opportunities to go beyond Brazil, and in 2005, we started in Argentina, and in 2007, we went to the United States and Australia. JBS is our biggest business under our holding company,” he added.

With an impressive annual revenue of approximately $75 billion, JBS has established itself as a global leader in the protein production industry.

The organization currently boasts 280,000 direct members, operating numerous facilities across various countries, including Brazil, the United States, Mexico, Canada, Australia, New Zealand, the United Kingdom, Italy, and France.

JBS processes an astounding 80,000 heads of cattle, 15 million chickens, and 25,000 heads of lamb daily.

The company also produces a range of packaged products such as sausages and bacon. In addition to its core operations, JBS holds diversified interests in several sectors, including energy, paper production, banking and finance, as well as soap and toiletries.

Abiodun highlighted the region’s unique advantages for potential investors like JBS, noting its strategic location and connections to 17 southern states and the northern parts of the country.

With an area spanning over 16,000 square kilometers, Ogun State presents an ideal environment for businesses seeking growth and expansion.

Ogun State Poised for $2.5b JBS Investment

“We have provided, in terms of infrastructure, 1,000 kilometers of highways and the best-constructed airport in Nigeria, specially dedicated to agro imports and exports.

“We are number one in non-oil, as two-thirds of the state sits on limestone. Our state is the third-largest producer of cement in Africa, trailing behind Morocco, which is second, and Egypt, which is first.

“The state also has gold, silica, bitumen, and others which are too numerous to mention. We have gas reticulation more than any other state. There are two major gas pipelines that crisscross our state,” he stated.

Dapo Abiodun assured prospective investors that the state is venturing into power generation and distribution to provide industries and companies with access to the cheapest electricity supply in the country.

He emphasized that the process for land acquisition has been streamlined, with land title documents available within 30 days.

Furthermore, Governor Abiodun highlighted his administration’s significant investments in security measures to ensure the safety of residents and businesses operating within the state.

Praising the visiting delegation from JBS, the world’s largest protein producer, Abiodun commended the company’s growth from modest beginnings to global leadership in its field.