Brazilian meat processing giant JBS has signed a memorandum of understanding (MoU) with the Nigerian government to invest $2.5 billion in the country over the next five years. The agreement includes plans to establish six new facilities focused on poultry, beef, and pork production. This initiative is part of a larger strategy by JBS to address food insecurity and boost sustainable food production in emerging markets.
JBS announced that the investment will encompass feasibility studies, preliminary designs, budgeting, and supply chain development as part of a comprehensive five-year plan. The company highlighted the severe food insecurity in Nigeria, where approximately 24.8 million people face hunger, according to the World Food Programme. Furthermore, 76% of Sub-Saharan Africa’s population living in extreme poverty depends on agriculture for their livelihood, as per the World Bank.
JBS CEO Gilberto Tomazoni emphasized the company’s commitment to partnering with Nigeria to tackle these challenges, stating, “Our global experience demonstrates that fostering sustainable food production chains drives socio-economic progress, especially for vulnerable populations.” The project’s focus includes three poultry plants, two beef facilities, and one pork processing factory, aiming to enhance Nigeria’s protein production. Currently, protein production contributes 10% to the national GDP but meets only 40% of domestic demand.
The Nigerian government has pledged to support the initiative by providing favorable economic, regulatory, and sanitary conditions. JBS will also collaborate with the government to advance the National Food Security Plan, sharing expertise in sustainable agricultural and industrial practices. The company plans to empower small-scale producers and promote sustainable farming to boost local productivity and efficiency.
This Nigerian expansion aligns with JBS’s broader global strategy. Earlier in the year, the company announced plans to significantly increase chicken production in Saudi Arabia, expand salmon farming in Australia, and introduce new beef production lines in Canada.