Tropical General Investments (TGI) Group and Singapore-based Wilmar International have agreed to merge their businesses in Nigeria and the Republic of Benin under a new 50:50 joint venture aimed at strengthening food production, processing, and distribution across the region. 

The companies said the partnership will create one of the largest integrated food and agriculture platforms in West Africa, targeting a combined market estimated at $12bn.

According to a joint statement, the venture will bring together operations spanning agriculture, oil palm plantations, edible oils, edible nuts, rice production, food manufacturing, and distribution. The move reflects growing investor confidence in Nigeria’s food and agribusiness sector despite ongoing economic challenges and increasing demand for locally produced food products. 

The Chairman and Chief Executive Officer of Wilmar International said Nigeria and the Republic of Benin remain important consumer markets with significant growth potential.

He noted that combining Wilmar’s integrated palm oil and specialty fats business with TGI Group’s manufacturing capacity, established brands, and extensive distribution network would create a stronger platform capable of serving millions of consumers while supporting the long-term development of the region’s food industry.

The founder and chairman of TGI Group described the transaction as a strategic partnership between two businesses with complementary strengths and a shared commitment to delivering quality food products.

According to him, TGI Group has spent more than four decades building a strong presence in food manufacturing and distribution in Nigeria. The partnership is expected to combine Wilmar’s global expertise with TGI’s deep understanding of local markets to develop innovative food solutions and expand opportunities across Africa. 

The companies believe the merger will also strengthen domestic value addition, create jobs, support smallholder farmers, and contribute to food security efforts in both countries.

Industry stakeholders say the development could have positive implications for small and medium-sized enterprises operating within agricultural value chains. Increased investment in food processing, palm oil production, rice cultivation, logistics, packaging, and distribution may create new opportunities for local suppliers, processors, transport operators, and agribusiness entrepreneurs.

A senior executive at TGI Group said the partnership demonstrates confidence in Nigeria’s economic future and reinforces the importance of investing in local production capabilities. 

The companies added that by combining global expertise with local market knowledge, the joint venture would be better positioned to improve operational efficiency, expand market reach, and strengthen food supply chains across the region.

Wilmar’s Africa leadership also described the transaction as a strategic fit that brings together scale, local insight, established consumer brands, and strong distribution capabilities.

The transaction is ex pected to be completed during the 2026 financial year, subject to regulatory approvals and other customary conditions.

If approved, the deal will rank among the most significant agribusiness partnerships in West Africa and could further accelerate investment in food production, manufacturing, and agricultural value chains across the region.