President Bola Tinubu says his administration’s renewed focus in driving international and local investments into livestock sector of the agricultural value-chain will end the crisis of farmer-herder clashes and promote economic prosperity.
The President also agreed that there is hunger in the land, but said hope is on the way with his administration’s commitment in developing the sector.
Speaking in Rio de Janeiro, Brazil at the signing of a Letter of Intent between the Nigerian Government and the JBS S.A, one of the top three largest meat processing companies globally, President Tinubu said the livestock investment opportunities in Nigeria is worth over $2.5billion.
He said the agreement will be 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 the problem and even bring a successful economy out of it.
“We are trying to turn a situation of tragedy, hopelessness into economic opportunity, see through problems and see the opportunity that is involved in it.
“Food security is extremely important. As we talk right now, there is hunger. However, there is huge hope. And you are one of those hopes that we are looking at.”President Tinubu told the JBS top executives that Nigeria is ready to do business with them, assuring them of a good return on their investment.
Wesley Batista, founder and President of the JBS group, said the company is the largest employer of labour in Brazil with over $79 billion dollars revenue already in year 2024.
“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. We look forward to working with you.”
Prior to the visit to Brazil, President had commissioned a team of Nigerian officials and private sector players to take the advantage of the G20 Leaders’ Summit in Rio to conduct a study tour of Sao Paulo, Brazil and explore the opportunities in livestock development, meat processing, seed development and multiplication for key grains.
In his remarks, the Minister of Livestock Development, Idi Muhktar Mahia, who led the delegation, reported to the President that the team embarked on guided tours of companies on the scale of their global reach, the integrated nature of their operations as well as the deployment of advanced technology.
He added that from their interactions with various companies, JBS S.A. was chosen being the second largest meat processing company in the world with the capacity to process 33,000 cattle daily and over eight million birds daily, using advanced zero-waste practices.
The company employs over 200,000 people across its subsidiaries in more than 50 countries in the world including United States, Canada, Mexico, Saudi Arabia among others.
