President Bola Tinubu on Thursday reaffirmed his administration’s commitment to attracting both local and international investments into Nigeria’s livestock sector as a strategy to resolve ongoing farmer-herder conflicts, combat hunger and poverty, and boost the nation’s economic growth.
The President made this statement in Rio de Janeiro, Brazil, during the signing of a Letter of Intent with JBS S.A., one of the world’s largest meat processing companies.
He explained, “We are addressing a longstanding issue in this region of Africa—violent clashes between farmers and migrating cattle, which have caused significant loss of life.
“There is a more modern and effective way to tackle these problems, turning them into opportunities for economic success.”
Tinubu emphasized the importance of transforming what he described as a tragic and hopeless situation into an opportunity for growth, highlighting the potential of the livestock sector in Nigeria.
He encouraged JBS S.A. to recognize the vast investment opportunities in Nigeria’s $2.5 billion livestock industry, especially given the country’s large population.
He also praised JBS S.A.’s expertise in food security and underscored the significance of the company’s role in addressing hunger while offering hope for the future.
“We have heard much about your esteemed reputation and are confident in the partnership we are building today.
“Food security is critical, and though hunger persists, there is hope, and you are part of that hope,” he added.
The President assured JBS executives that Nigeria is eager to engage in business and promised a rewarding return on their investment.
Ahead of his trip to Brazil, President Tinubu had dispatched a team of Nigerian officials and private sector leaders to the G20 Leaders’ Summit in Rio.
Their mission was to explore livestock development, meat processing, and seed development opportunities in São Paulo, Brazil.