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Brazilian meatpacker JBS agrees to invest $2.5 bln in Nigeria, build six factories

Nigeria- Africa

Brazilian meatpacker JBS , has signed a memorandum of understanding with Nigeria’s government for a $2.5 billion investment plan in the African country, including the building of six new factories. In a statement, JBS said three of the factories would deal in poultry, two in beef and one in pork. Based on the memorandum of understanding, JBS said it will build up a five-year investment plan in Nigeria, including feasibility studies, budget estimates and an action plan for local supply chain development. ( Source: Reuters)

JBS, the world’s largest chicken manufacturer, has announced a $2.5 billion plan to construct six facilities in Nigeria over five years, including three poultry plants, two beef plants, and one port facility. This initiative, formalized through a memorandum of understanding (MoU) with the Nigerian government on November 21, aims to address food insecurity and enhance Nigeria’s agricultural infrastructure by building sustainable food supply chains.

Under the agreement, JBS will conduct feasibility studies, design projects, and develop a detailed action plan, while the Nigerian government will ensure a favorable economic and regulatory environment. JBS Global CEO Gilberto Tomazoni emphasized the company’s commitment to socio-economic progress through sustainable agricultural practices, highlighting the transformative potential of such initiatives for vulnerable communities.

The construction of the poultry plants is particularly important given Nigeria’s growing population and increasing demand for affordable food. JBS aims to strengthen local supply chains, support small producers, and promote sustainable farming methods, mirroring its successful strategies in other regions. The collaboration will also align with Nigeria’s National Food Security Plan, leveraging JBS’s global expertise to position Nigeria as a leader in food production and supply chain management in Africa.