JBS Announces US$2.5 Billion Investment in Six Meat-Processing Plants in Nigeria

Brazilian meat producer JBS has announced plans to invest $2.5 billion in the establishment of six meat-processing plants in Nigeria. This investment is part of a strategic partnership with the Nigerian government.

The agreement was formalized through a memorandum of understanding, detailing a five-year investment plan by JBS. This plan includes conducting studies, preparing budget estimates, and implementing an action plan aimed at improving Nigeria’s local manufacturing and supply chain.

In return, the Nigerian government has committed to formalising the necessary economic, and regulatory conditions to ensure the project's success. JBS highlighted that this initiative aligns with the companies goal to promote sustainable food production systems in Nigeria. 

JBS highlighted that approximately 24.8 million Nigerians face severe food insecurity. Currently, protein production accounts for 10% of Nigeria's GDP but only satisfies 40% of domestic demand, according to JBS. As a result, the nation depends heavily on food imports to satisfy food demands from the growing nation. Nigeria's current population exceeds 220 million, and meat market is among the largest in Africa, with annual meat consumption estimated at over 1.5 million metric tonnes, including beef, poultry, fish, goat, and sheep.

This investment is part of JBS’s broader global expansion strategy. Earlier this year, the company announced plans to boost chicken production in Saudi Arabia with a new facility in Jeddah. It has also invested in salmon farming through Huon Aquaculture in Australia and a beef patty production line in Alberta, Canada.

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