Chi Farms Nigeria Limited has set its sights on a $2.5bn livestock investment following a recent visit from Brazilian meatpacking company JBS and the Nigerian Investment Promotion Commission at its facility along the Lagos-Ibadan Expressway, Ogun State.
Chi Farms, a Tropical General Investments Group subsidiary, said that it took a step towards a $2.5bn investment plan in collaboration with the federal government, according to a statement.
The initiative aims to transform the meat processing sector by establishing six new factories and bolstering the country’s livestock value chain.
The delegation, led by the Executive Secretary/Chief Executive Officer of NIPC, Aisha Rimi, included the Head of International Expansion at JBS, Fabio Maia, and an expert in poultry and swine, Osorio Dal Bello.
They were received by the Managing Director of Cormart and Chi Farms Nigeria Limited, Martin Middernacht; Executive Director of Cormart and Chi Farms, Dr. Johannes Flosbach; Director of Corporate Affairs at TGI Group, Sadiq Kassim; and Head of Corporate Communications at TGI Group, Rafiat Gawat.
During the visit, Chi Farms showcased its integrated operations in poultry breeding, aquaculture, and meat processing.
The company also highlighted its expertise in constructing integrated poultry facilities as a representative of Big Dutchman, a global poultry equipment manufacturer, in West Africa.
Dr. Flosbach underscored the need for affordable capital to expand operations and modernise infrastructure: “While there are challenges in the industry, we believe strategic investments can unlock Nigeria’s livestock potential, drive local production, and create employment opportunities. This can only be done at scale when capital is available and affordable.”
The NIPC CEO, Rimi, also highlighted the partnership’s significance, explaining its potential to enhance food security and boost Nigeria’s position as a leader in Africa’s meat processing industry.
“Nigeria’s livestock sector offers immense growth opportunities. Strategic investments like this can enhance food security, drive exports, and position Nigeria as an African meat processing leader,” she said.
Also further addressed were challenges such as inadequate power supply and a lack of skilled workforce, which have hindered the sector’s growth.