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“There’s hunger, however there’s huge” hope – Tinubu Lament

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1 month ago

November 23, 2024

President Bola Tinubu has announced that his administration’s focus on attracting international and local investments into Nigeria’s livestock sector will address the long-standing crisis of farmer-herder clashes and promote economic growth.

Speaking in Rio de Janeiro, Brazil, during the signing of a Letter of Intent between the Nigerian government and JBS S.A.—one of the top three largest meat processing companies globally—President Tinubu highlighted the potential of Nigeria’s livestock investment opportunities, valued at over $2.5 billion.

“This 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,” Tinubu said.

He further emphasized the administration’s efforts to transform challenges into opportunities: “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.”

The President assured the executives of JBS S.A. that Nigeria is open for business and promised good returns on their investment.

Wesley Batista, the founder and president of JBS Group, expressed optimism about collaborating with Nigeria to develop its livestock industry. He highlighted Nigeria’s potential as a protein supply hub for Africa: “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.”

JBS, a global leader in meat processing, reported a revenue of $79 billion in 2024 and operates in over 50 countries, employing more than 200,000 people across its subsidiaries. The company has the capacity to process 33,000 cattle and over eight million birds daily, employing advanced zero-waste practices.
Before the Rio event, President Tinubu commissioned a team of Nigerian officials and private-sector stakeholders to explore livestock development opportunities in Brazil during the G20 Leaders’ Summit.

The Minister of Livestock Development, Idi Muhktar Mahia, who led the delegation, reported back on their interactions with companies like JBS, which stood out as the second-largest meat processing company globally. He noted that JBS impressed the team with its integrated operations, advanced technology, and global reach.

“From our interactions with various companies, JBS S.A. was chosen for its capacity to process livestock at scale and its zero-waste practices. We believe their partnership will bring transformational change to Nigeria’s livestock industry,” Mahia said.