Chi Farms plans to invest $2.5 billion in livestock sector

Chi Farms Nigeria Limited has announced a target of $2.5 billion investment in the livestock sector following a recent visit by Brazilian meat processor JBS and the Nigeria Investment Promotion Commission to its facility in Lagos-Ibadan in the state.
OgunChi Farms, a subsidiary of Tropical General Investments Group, in a statement said it has taken a step towards its $2.5 billion investment plan in partnership with the Federal Government.

The initiative aims to transform the meat processing sector by building six new plants and strengthening the livestock value chain in the country.

The delegation was led by NIPC Executive Secretary/CEO Aisha Rimi and included Fabio Maia, Head of International Expansion at JBS and Osorio Dal Bello, a poultry and pig farming expert.

They were accompanied by General Manager of Cormart and Chi Farms Nigeria Ltd. Martin Middernacht; Managing Director of Cormart and Chi Farms, Dr. Johannes Flossbach; Director of Corporate Affairs of TGI Group, Sadiq Kassim; and Head of Corporate Communications of TGI Group, Rafiat Gawat.

During the visit, Chi Farms showcased its integrated activities in poultry farming, aquaculture and meat processing.

The company also highlighted its expertise in building integrated poultry facilities as the West African representative of global poultry equipment manufacturer Big Dutchman.

Dr. Flossbach stressed the need for affordable capital to expand operations and modernize infrastructure: “While the industry faces challenges, we believe strategic investments can unlock Nigeria’s livestock potential, boost local production and create jobs. This can only happen at scale if funding is available and affordable.”

NIPC CEO Rimi also stressed the importance of the partnership, explaining its potential to improve food security and strengthen Nigeria’s position as a leader in Africa’s meat processing industry.

“The Nigerian livestock sector offers tremendous growth opportunities. Such strategic investments can improve food security, boost exports and position Nigeria as Africa’s leading meat processor.”

It also addresses challenges such as inadequate electricity supply and lack of skilled labour that have hampered growth in the sector.