JBS to invest US$2.5B in Nigeria to develop sustainable food facilities
Brazilian meat processing company JBS has signed an agreement with Nigeria to invest US$2.5 billion over five years to build six plants to boost local production.
Based on a memorandum of understanding (MoU), JBS will build three factories for poultry, two for beef and one for pork. The plan will include feasibility studies, preliminary project designs, budget estimates and an action plan for development.
Meanwhile, the Nigerian government will ensure the project's necessary economic, sanitary and regulatory conditions.
“Our goal is to establish a strong partnership and support Nigeria in addressing food insecurity. 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,” says Gilberto Tomazoni, global CEO of JBS.
Nigeria has one of the world’s highest population growth rates. According to the United Nations, the African country is expected to reach 400 million people by 2050, up from its current 250 million. Simultaneously, it also faces one of the highest rates of food insecurity globally, with 25 million people suffering from hunger.
Counterproductive plans
The not-for-profit organization ProVeg has warned that JBS’s plans could be counterproductive and cause environmental issues in the country. It also says that the plans contradict Nigeria’s recent signing of a Declaration on food and emissions at the UN climate summit, COP29.
“This is the completely wrong approach to food production in Africa in the 21st Century and detrimental to food security, as it will lead to feed agriculture being prioritized over food production for the people. We can feed seven times more people with nutritious, plant-protein rich food than with inefficient animal protein,” says Hakeem Jimo, director of ProVeg Nigeria.
“We need voices in the Nigerian government to speak out against this and take the leadership on sustainable food production,” he adds.
JBS insists that its goal is to support the country in implementing a food security plan.
“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,” Tomazoni stresses.
