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Global meat company JBS has announced plans to invest $2.5bn in Nigeria over the next five years, including construction of six new factories.
The company signed a Memorandum of Understanding with the government of Nigeria on 21 November 2024, aiming to invest in 'developing sustainable supply chains for food production' in the African country.
Under the agreement, JBS will implement a five-year investment plan including feasibility studies, preliminary project designs, budget estimates, and an action plan for supply chain development. The Nigerian government will work with JBS to ensure the necessary economic, sanitary and regulatory conditions for the project’s success.
The $2.5 billion investment will cover the construction of the six factories – three for poultry, two for beef and one for pork. This aims to improve food security in the country as well as to significantly reduce imports, support local farmers and generate local jobs.
According to United Nations projections, Nigeria’s population – currently at 250 million – is expected to reach 400 million by 2050. Additionally, data from the World Food Programme suggests that Nigera faces one of the highest rates of food insecurity worldwide, with 24.8 million people suffering from hunger.
JBS’ global CEO, Gilberto Tomazoni, said the company’s goal is to address this by establishing a strong partnership with the country.
He commented: “Our experience in regions where we operate worldwide shows that developing a sustainable food production chain creates a virtuous cycle of socio-economic progress, particularly for vulnerable populations”.
The investment plan will support small producers in Nigeria while aiming to promote ‘sustainable agricultural practices,’ JBS said in a statement. This follows similar initiatives with partners in other regions, such as its Green Offices programme, which supports Brazilian farmers in increasing production efficiency and socio-environmental sustainability through technical assistance.
Tomazoni added: “Our goal is to collaborate with the Nigerian Government to support the implementation of the National Food Security Plan, sharing our expertise in developing sustainable agro-industrial supply chains and best practices to enhance the country's efficiency, productivity and production capacity.”
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