Brazil’s top food conglomerate to invest $2.5bn in Ogun

JBS of Brazil, the world’s biggest producer of protein, is set to invest as much as $2.5 billion in Ogun State, in a key move to drive the country’s livestock industry and ensure food security.

The announcement was made by the Ogun State governor Dapo Abiodun via his X handle Monday.

Abiodun said the partnership was made when the representatives of the food conglomerate led by Wesley Batista and John Coumantaros visited his office in the capital Abeokuta.

“Ogun State is set to benefit significantly as JBS of Brazil, the world’s largest protein producer, has committed to investing $2.5 billion in Nigeria’s livestock sub sector through a strategic partnership with us,” Abiodun said.

“We presented Ogun State’s strategic advantages, including its prime location, well-developed infrastructure, and abundant natural resources. With over 16,000 square kilometers of land, a thriving industrial base, and the best agro-dedicated airport in Nigeria, our state remains the leading destination for investment,” the governor added.

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Abiodun stated that his administration has created an “investor-friendly” environment by improving road networks, enhancing security, streamlining land acquisition, and advancing power generation to provide businesses with the most affordable electricity in the country.

“We remain committed to collaborating with President Bola Ahmed Tinubu’s administration to drive food security, economic growth, and sustainable development,” he said.

This partnership with JBS, he said, aligns with the president’s economic reforms, which prioritise investment-driven growth, job creation, and food security.

“By working together, we will unlock new opportunities in livestock production, modern slaughterhouses, piggery and poultry farming, and agricultural value chains.”