TGI, Wilmar Target $12bn Food Market In Nigeria, Benin Republic

Nigeria and the Benin Republic’s efforts to strengthen food security and the agriculture sector have received a boost from Tropical General Investments Group and Wilmar International.

The two companies have formed a joint venture to capture an estimated $12 billion food and consumer goods market in Nigeria and the Republic of Benin.

Structured as a 50:50 joint venture, it will combine the food businesses of both companies in the two countries to create one of West Africa’s largest integrated agribusiness and food manufacturing platforms.

In a press statement issued to journalists in Abuja by the two organisations, they said the combined operation will cover oil palm plantations, edible oils, rice, edible nuts, culinary products, food manufacturing, and nationwide distribution networks, positioning the venture to meet growing food demand across the sub-region.

The founder and chairman of TGI Group, Cornelis G. Vink, said the alliance would leverage Wilmar’s global expertise alongside TGI’s strong local presence to expand access to high-quality locally manufactured food products.

Vink said, “For more than four decades, TGI Group has built a leading position in Nigerian food manufacturing and distribution. The combination with Wilmar’s Nigerian businesses brings together two highly complementary platforms built on the delivery of high-quality, locally manufactured food products across the sub-region.”

Also, the vice chairman of TGI Group, Farouk Gumel, explained that the joint venture would strengthen domestic value addition, support smallholder farmers, create jobs and deepen agricultural value chains from cultivation to consumer distribution.

Gumel said the integrated platform is expected to play a significant role in improving food security and boosting industrial growth in West Africa.

For his part, the chairman and chief executive officer of Wilmar International, Kuok Khoon Hong, described Nigeria and the Republic of Benin as key consumer markets with a combined population of over 260 million people.

He said the joint venture would combine Wilmar’s expertise in palm oil and food staples with TGI Group’s manufacturing scale, established consumer brands and extensive distribution network to better serve African consumers.

Also, Santosh Pillai said the venture represents a major strategic expansion for Wilmar in Africa and would help drive growth in the food and agriculture sectors across the region.

The deal is expected to be completed before the end of the 2026 financial year, subject to regulatory approvals and other customary closing conditions.