The Nigerian government has signed a letter of intent with JBS S.A., a global leader in meat processing, to invest in the country’s $2.5 billion livestock industry.
The signing ceremony, held on November 21 in Rio de Janeiro, Brazil, was witnessed by President Bola Tinubu. According to a statement by presidential spokesperson Bayo Onanuga, Tinubu emphasized that his administration aims to boost investment in the livestock sector to address farmer-herder conflicts, reduce hunger and poverty, and foster economic growth.
“We’re addressing a long-standing issue in Africa—farmer-herder clashes that have led to bloodshed—by finding modern, peaceful solutions while creating economic opportunities,” Tinubu remarked.
He also highlighted Nigeria’s potential for growth in the livestock sector, noting the country’s large population and the opportunity for JBS S.A. to invest in this $2.5 billion industry.
“Food security is crucial, and while hunger is a pressing issue, there is great hope. JBS is one of the partners helping us realize this potential,” he added.
Minister of Livestock Development, Idi Mahia, who led the Nigerian delegation, shared that the team visited global companies to explore their operations and technology. JBS S.A., as the second-largest meat processor globally, was chosen for its advanced practices, including zero-waste technology and its ability to process 33,000 cattle and over 8 million birds daily.
Wesley Batista, founder and president of JBS, expressed excitement about the partnership. He noted that JBS is Brazil’s largest employer, generating over $79 billion in revenue in 2024. Batista emphasized the opportunity to develop Nigeria’s livestock industry and position the country as a protein supplier for Africa.
“We look forward to being in Nigeria soon,” Batista said.
