Nigeria has welcomed the announcement by a global meat company, JBS, of a $2.5 billion investment in Nigeria.
It also congratulated President Bola Tinubu for facilitating the investment that will see the Brazilian company, which is also one of the largest meat packaging firms in the world, building six new meat factories in the country
In a statement signed by its Chairman, Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, The Democratic Front (TDF) argued that the investment signified a vote of confidence by the international community in the Tinubu economic reform.
“The significance of this economic milestone is more appreciated when objectively contextualized within its potency to stimulate our agro-economy and create jobs and wealth in the livestock value chain.
“We are particularly persuaded to welcome this remarkable success as a major achievement by the administration because it is in tandem with President Bola Tinubu’s unwavering commitment to the economic development of the 774 local government areas.
“Like many Nigerians of good conscience, we were amazed to sight the President on the sidelines of the recently concluded G20 summit in Rio de Janeiro as he passionately made sales pitches to investors in Brazil to explore the abundant potential in Nigeria.
“For putting up solid arguments in favour of Nigeria on that global stage, the President deserves our commendation in the manner he successfully marketed the nation while at the summit.
“We are particularly thrilled that the Memorandum of Understanding (MOU) with JBS (SA) includes building six factories-three for poultry, two for beef and one for pork.
“Under the agreement, JBS will implement a five-year investment plan including feasibility studies, preliminary project designs, budget estimates, and an action plan for supply chain development while Nigeria provides the necessary economic, sanitary, and regulatory conditions to ensure the project’s success.
“For us, this is a win-win situation that will help boost the country’s latent potential in livestock farming in line with President Tinubu’s decision to set up a ministry to oversee livestock development.
“When JBS meat factories go into operation in the country, there is no doubt that there would be an improvement in food security and jobs in that sector as well as a significant reduction in imports.
“We, therefore, crave the indulgence of Nigerians to join the President in the bid to actualize his vision FG for livestock development in Nigeria, through what he described as ” trying to turn a situation of tragedy and hopelessness into an economic opportunity”, it added.
TDF also expressed the conviction that the agricultural sector would receive a boost under President Tinubu’s administration.
