JBS to Invest $2.5 Billion in Meat Processing Plants in Nigeria
JBS, a global protein powerhouse from Brazil, is making waves with a massive $2.5 billion investment to establish six meat-processing facilities in Nigeria. This ambitious project includes three poultry plants, two beef plants, and one pork facility.
This move aligns with JBS’s goal to support “sustainable production chains for food production,” as outlined in their memorandum of understanding with the Nigerian government.
Tackling Food Insecurity in Nigeria
Nigeria faces significant food security challenges, with 24.8 million people struggling with hunger, according to the World Food Programme.
JBS CEO Gilberto Tomazoni emphasized the importance of this venture, stating, “Our goal is to establish a strong partnership and support Nigeria in tackling food insecurity.”
The investment also aims to uplift the agricultural sector, a lifeline for 76% of sub-Saharan Africa’s extreme poverty-stricken population, according to the World Bank.
By developing sustainable food production chains, JBS hopes to create a “virtuous cycle of socio-economic progress,” particularly for vulnerable communities.
A Five-Year Vision
JBS’s five-year plan includes feasibility studies, facility designs, budget assessments, and a detailed action plan to develop supply chains. In return, the Nigerian government will ensure the economic, sanitary, and regulatory conditions necessary for success.
Tomazoni added, “Our goal is to collaborate with the Government of Nigeria to support the implementation of the National Food Security Plan, sharing our expertise in developing a sustainable agro-industrial chain.”
Supporting Local Producers
Currently, protein production accounts for 10% of Nigeria’s GDP but only meets 40% of domestic demand.
Through this project, JBS aims to close this gap by supporting small producers and encouraging sustainable agricultural practices.
JBS’s Global Expansion
This initiative follows other major expansions by JBS, including quadrupling chicken production in Saudi Arabia and enhancing its Huon Aquaculture salmon business in Australia. With its Nigerian project, JBS continues to solidify its role in shaping global food systems.
This investment not only promises to address Nigeria’s food insecurity but also underscores JBS’s commitment to creating lasting socio-economic impacts worldwide.
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