New 50:50 joint venture aims to strengthen food production, distribution, and agricultural value chains across Nigeria and Benin
Singapore-based agribusiness giant Wilmar International and Tropical General Investments (TGI) Group have entered into definitive agreements to establish a 50:50 joint venture that will combine their respective businesses in Nigeria and the Republic of Benin. The partnership is designed to create an integrated agribusiness and food platform serving some of West Africa’s largest consumer markets.
The joint venture will bring together a broad portfolio of operations spanning upstream agriculture, oil palm plantations, edible oils, edible nuts, rice, culinary products, food manufacturing, and nationwide distribution networks. The companies estimate that the addressable market across these categories in Nigeria and Benin exceeds US$12 billion, highlighting the significant growth potential of the venture.
Under the agreement, the combined businesses will be held through a Singapore-based holding company jointly owned by Wilmar and TGI Group. By integrating their complementary strengths, the partners aim to create a business with substantial scale across the agricultural value chain, from cultivation and processing to refining, manufacturing, and branded consumer distribution.
Wilmar will contribute its global agribusiness expertise, processing capabilities, and portfolio of consumer brands, while TGI Group will bring its extensive manufacturing operations, local market knowledge, established brands, and distribution infrastructure. The companies believe the combination will enable them to deliver high-quality and affordable food products to consumers across West Africa while improving supply chain efficiency and market reach.
The partnership is also expected to support broader economic development in the region. Industry leaders stated that the venture will help deepen domestic value addition, strengthen regional food supply chains, support smallholder farmers, create employment opportunities, and contribute to food security in Nigeria and neighbouring markets.
Wilmar Chairman and CEO Kuok Khoon Hong noted that Nigeria and Benin represent important consumer markets with a combined population of more than 260 million people, while TGI Group leaders emphasized that the collaboration brings together two highly complementary businesses with a shared focus on locally manufactured food products and long-term regional growth.
Subject to customary regulatory approvals, the transaction is expected to be completed during the 2026 financial year. Both companies view the venture as a long-term platform that can expand across Africa, strengthen regional value chains, and support sustainable growth in the continent’s food and agriculture sectors.