Lebanese-Nigerian tycoon Hassan Hammoud plans $50 million investment in Ogun

Key Points

• Lebanese-Nigerian tycoon Hassan Hammoud plans a $50 million manufacturing investment in Ogun State to boost local production and job creation. 
• Mamuda Group’s expansion focuses on food, beverages, and agro-processing sectors, aligning with Nigeria’s industrial growth strategy. 
• Zenith Bank backs Mamuda’s growth, reinforcing financial support for sustainable business operations in Nigeria’s manufacturing sector.

In a move poised to bolster Nigeria’s manufacturing sector, Hassan Hammoud, the Lebanese-Nigerian tycoon and Chairman of Mamuda Group, has unveiled plans for a $50 million investment in Ogun State.

The new venture, to be launched through Mamuda Beverages, one of the subsidiaries of Mamuda Group, is expected to drive economic growth and generate substantial employment opportunities in the region.  This development marks a significant milestone in Nigeria’s push to expand its manufacturing capabilities and create jobs.

Expansion into Ogun State

During a recent meeting with Ogun State Governor, Dapo Abiodun, in Abeokuta, Hammoud confirmed that Mamuda Group intends to break ground on its latest facility in Ogun next month. This marks a significant milestone in the company’s expansion plans.

The investment will span multiple phases, with a focus on food, beverages, care, and agro-processing sectors, aligning with the company’s overarching vision of creating sustainable business operations across Nigeria. “We are excited to bring our expertise to Ogun State. This investment is a testament to the state’s business-friendly environment and the strategic growth we aim to achieve within the region,” Hammoud said.

Mamuda Group: A diverse conglomerate

Founded in Kano, Mamuda Group is a diversified conglomerate with a robust portfolio spanning five primary divisions: Mamuda Beverages (carbonated drinks and bottled water), Mamuda Agro & Allied Products (agricultural sacks), Mamuda Foods (biscuits and candies), Mamuda Industries (leather tanning), and Mamuda Care (beauty care products). With a workforce of over 13,000 employees from 100 nationalities, the company continues to lead Nigeria’s industrialization efforts. 

Hammoud’s leadership has propelled the group to new heights, creating job opportunities and expanding its reach within and outside Nigeria. As a visionary businessman, Hammoud has emphasized sustainability, innovation, and ethical practices as key pillars of Mamuda’s success.

Job creation and economic impact

Mamuda Group’s expansion is expected to have a profound impact on Ogun State’s economy. By opening multiple manufacturing units, the company aims to generate thousands of jobs. The new investment comes on the heels of Mamuda’s new factories launched in Kano, which were inaugurated by Vice President Kashim Shettima, further cementing Hammoud’s role as a key player in Nigeria’s industrial development. 

Governor Dapo Abiodun welcomed the investment, highlighting the state’s commitment to fostering an environment conducive to business growth and innovation. The project is seen as a crucial step toward enhancing local production capacity and attracting more foreign investments into Nigeria’s manufacturing sector.

Zenith Bank’s Group CEO, Dame (Dr.) Adaora Umeoji, also visited Mamuda’s headquarters in November 2024, reinforcing financial backing for the conglomerate’s aggressive growth strategy. The partnership underscores a shared commitment to innovation, local content development, and financial inclusion. This new $50 million investment in Ogun State is set to make a significant impact on the local economy, with Mamuda Group poised to expand its influence in the Nigerian market and beyond.