Chi Farms Nigeria Limited, in collaboration with the Federal Government, has unveiled plans for a transformative $2.5 billion livestock investment, aiming to revolutionize the nation’s meat processing industry.
This development follows a recent visit by Brazilian meatpacking giant JBS and the Nigerian Investment Promotion Commission (NIPC) to Chi Farms’ facility along the Lagos-Ibadan Expressway in Ogun State.
The initiative seeks to establish six new factories to strengthen Nigeria’s livestock value chain and boost local meat production.
Leading the delegation was NIPC’s Executive Secretary/CEO, Aisha Rimi, accompanied by JBS’s Head of International Expansion, Fabio Maia, and poultry and swine expert, Osorio Dal Bello.
Chi Farms, a subsidiary of Tropical General Investments (TGI) Group, showcased its integrated operations in poultry breeding, aquaculture, and meat processing.
Representatives from TGI Group, including Managing Director Martin Middernacht, Executive Director Dr. Johannes Flosbach, Director of Corporate Affairs Sadiq Kassim, and Head of Corporate Communications Rafiat Gawat, received the delegation.
The farm also demonstrated its expertise in constructing integrated poultry facilities as a representative of Big Dutchman, a leading global poultry equipment manufacturer in West Africa.
Speaking on the project’s prospects, Dr. Flosbach emphasized the need for affordable capital to expand operations and modernize infrastructure, stating, “Strategic investments are key to unlocking Nigeria’s livestock potential, boosting local production, and creating employment opportunities. However, this can only be achieved with accessible and affordable capital.”
NIPC CEO Aisha Rimi highlighted the partnership’s significance in enhancing food security and positioning Nigeria as a leader in Africa’s meat processing industry.
“Nigeria’s livestock sector holds immense potential. Investments like this can strengthen food security, stimulate exports, and establish Nigeria as a powerhouse in the African meat industry,” she said.
However, key challenges discussed included inadequate power supply and a lack of skilled workforce, which have hindered the livestock sector’s growth.
Furthermore, both parties expressed optimism that strategic investments and partnerships would address these barriers, paving the way for sustainable development in Nigeria’s meat processing industry.