The Federal Government of Nigeria and JBS S.A., a leading global meat processing company based in Brazil recently reached an agreement.
This deal, witnessed by President Bola Tinubu in Rio de Janeiro, Brazil, involves a substantial investment of $2.5 billion into Nigeria's livestock sector.
The collaboration aims to harness the potential of Nigeria's vast livestock resources, which include a national population of 258.5 million chickens, 137.4 million goats and sheep, 20.9 million cattle, and 9.2 million pigs as of 2022.
President Tinubu emphasized that this investment is part of his administration's strategy to address ongoing farmer-herder conflicts, eradicate hunger and poverty, and promote economic prosperity within the country.
He stated, "What we are doing right now is that we are solving a problem that afflicted humanity in that part of Africa, clashes between farmers and migrating cows that have caused some life and bloodshed when there is a modern, civilized way to solve those problems and even bring a successful economy out of it."
The partnership with JBS S.A., known for its expertise in ensuring food security, is expected to transform Nigeria into a central hub for protein supply across Africa.
Wesley Batista, founder and president of JBS Group, expressed enthusiasm about the venture, highlighting the company's capacity to process 33,000 cattle and over eight million birds daily using advanced zero-waste practices.
Batista remarked, "We are glad to work with Nigeria to work together to develop the livestock industry there. We think it’s a good opportunity for our business in Nigeria and Africa as we believe Nigeria can be the center of supply of protein to many countries in Africa."
This initiative not only promises to boost Nigeria's economy but also aims to turn a situation of "tragedy, hopelessness into economic opportunity," as noted by President Tinubu. The investment is seen as a pivotal step towards achieving food security and fostering sustainable development in the region.
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