Livestock investment will bring economic opportunities to Nigeria — Tinubu
By Kunle Sanni
President Bola Tinubu has emphasized that his administration’s renewed focus on driving both international and local investments into Nigeria’s livestock sector will address the ongoing farmer-herder clashes, eradicate hunger and poverty, and promote economic prosperity.
Speaking in Rio de Janeiro, Brazil, on Thursday, President Tinubu highlighted the signing of a Letter of Intent between the Nigerian Government and JBS S.A., one of the world’s top three largest meat processing companies.
He explained, “What we are doing right now is solving a problem that has long plagued parts of Africa—clashes between farmers and migrating cattle that have caused loss of life and bloodshed. There is a modern, civilized way to address these issues and even turn them into a successful economy.”
“We aim to transform a situation of tragedy and hopelessness into an economic opportunity, seeing through the challenges and recognizing the potential they present.”
The President urged JBS S.A. to recognize the vast potential of Nigeria’s $2.5 billion livestock investment opportunities, citing the country’s large population and the company’s global expertise in ensuring food security.
“We’ve heard so much about your reputation, and we believe in the partnership we are forging today. Food security is critical. There is hunger right now, but there is also great hope. You are one of those hopes.”
President Tinubu assured JBS’s top executives that Nigeria is prepared to do business with them, offering a good return on their investment.
Before his visit to Brazil, President Tinubu had commissioned a team of Nigerian officials and private sector representatives to take advantage of the G20 Leaders’ Summit in Rio, conducting a study tour of São Paulo. The tour aimed to explore opportunities in livestock development, meat processing, seed development, and grain multiplication.
Minister of Livestock Development Idi Muhktar Mahia, who led the delegation, reported that the team undertook extensive tours of major companies renowned for their global reach, integrated operations, and advanced technology. Based on these interactions, JBS S.A. was selected due to its status as the second-largest meat processing company in the world. With the capacity to process 33,000 cattle and over eight million birds daily, JBS S.A. employs more than 200,000 people across subsidiaries in over 50 countries, including the United States, Canada, Mexico, and Saudi Arabia.
Wesley Batista, founder and President of the JBS group, expressed enthusiasm about collaborating with Nigeria to develop the livestock industry. He noted, “We see a great opportunity in Nigeria, as we believe the country can become the hub for protein supply to many African nations. We look forward to working with you and hope to be in Nigeria soon, as we are nearing the end of the year.”
Other members of the Nigerian delegation included Minister of State for Agriculture and Food Security Hon. Aliyu Sabi Abdullahi, Co-chairman of the Presidential Livestock Reform Committee Professor Attahiru Jega, Secretary of the Committee Professor Mohammed Kuta Yahya, and Chief Executive Officer of the Nigerian Investment Promotion Council, Aisha Rimi.
