The funding comes from AgriFI, an agriculture investment programme funded by the European Union and managed by EDFI Management Company.

The $2.5 million investment is structured as a convertible note and will help Tomato Jos buy new packaging equipment, upgrade its factory and expand drip irrigation on its farms. EDFI Management Company — Tomato Jos investment announcement⁠

Tomato Jos wants to produce much more locally

Tomato Jos grows tomatoes and also buys from smallholder farmers before processing them into packaged tomato paste for the Nigerian market.

The company operates from Kaduna State and says its broader goal is to increase local production of tomato products that Nigeria has historically imported in large quantities. Tomato Jos — company background⁠

EDFI says Tomato Jos currently produces just over 4,500 tonnes of fresh tomatoes annually.

The company wants to increase that to about 16,000 tonnes by 2029, more than tripling current production. EDFI Management Company — investment targets⁠

More farmers are expected to join the supply chain

Tomato Jos currently works with an estimated 500 smallholder farmers.

Under the expansion plan, that number is expected to rise to around 1,500 farmers by 2029.

The company provides farmers with access to inputs, irrigation, technical support and a buyer for their tomatoes. EDFI says Tomato Jos expects average income per participating farmer to rise by more than 150% between 2024 and 2029. EDFI Management Company — farmer expansion plans⁠

More than half of the raw materials used by Tomato Jos already come from local smallholder farmers. EDFI Management Company — Tomato Jos project profile⁠

Why the investment matters

Nigeria produces large quantities of fresh tomatoes, but losses after harvest and limited processing capacity have long meant that part of the crop never reaches consumers while processed tomato products are still imported.

Tomato Jos is trying to close part of that gap by turning more locally grown tomatoes into finished products inside Nigeria.

The new investment is expected to reduce production and energy costs while allowing the company to introduce more product formats and reach more customers. It could also help Tomato Jos prepare for a planned $6 million equity fundraising in 2028. EDFI Management Company — financing plan⁠

What this means

The $2.5 million investment is relatively small compared with Nigeria’s largest industrial projects, but its impact is more direct.

If the expansion works as planned, Tomato Jos will buy from more Nigerian farmers, process considerably more tomatoes locally and increase the amount of locally made tomato products available to consumers.

The main numbers to watch are whether production reaches 16,000 tonnes, whether the farmer network grows to 1,500, and whether the company secures the larger funding round planned for 2028.