- President Bola Tinubu highlighted a $2.5 billion investment opportunity in Nigeria’s livestock sector, aiming to resolve hunger and farmer-herder conflicts
- Tinubu assured stakeholders that partnerships with companies like JBS S.A. will transform challenges into economic opportunities, enhancing food security
President Bola Tinubu has emphasized his administration’s commitment to transforming Nigeria’s agricultural value chain, particularly the livestock sector, to address hunger, resolve farmer-herder conflicts, and foster economic growth.
Speaking in Rio de Janeiro, Brazil, at signing a Letter of Intent between Nigeria and JBS S.A., one of the world’s largest meat processing companies, Tinubu highlighted Nigeria’s livestock industry as a $2.5 billion investment opportunity.
He assured stakeholders that the partnership would mitigate the clashes between farmers and herders and create a thriving economy.
“We are turning a situation of tragedy and hopelessness into economic opportunity,” Tinubu said. “Food security is essential. While hunger exists now, there is hope on the horizon. You represent part of that hope.”
Tinubu invited JBS executives to invest in Nigeria, promising substantial returns. Wesley Batista, President of JBS, expressed optimism about collaborating with Nigeria to develop its livestock industry.
“We see Nigeria as a strategic hub for protein supply across Africa,” Batista said. “We look forward to building a successful partnership that benefits both parties.”
JBS, the second-largest meat processor globally, boasts advanced operations in over 50 countries, including the U.S., Canada, and Saudi Arabia. The company generates $79 billion in annual revenue and employs over 200,000 people.
Before Tinubu’s visit, Nigerian officials and private-sector players conducted a study tour in Sao Paulo, Brazil, to explore advancements in livestock development, meat processing, and seed technology.
Minister of Livestock Development, Idi Mukhtar Mahia, reported that JBS was chosen for its advanced technology and zero-waste practices. The company processes 33,000 cattle and over 8 million birds daily.
Tinubu’s administration aims to leverage these partnerships to build a sustainable livestock sector that ensures food security and promotes economic prosperity.