JBS and Nigeria sign agreement to invest in food security
JBS, one of the largest food companies in the world, signed a memorandum of understanding with the Nigerian government with the intention of investing in the development of sustainable production chains for food production in the African country.
Nigeria, Africa’s largest economy and most populous country, also has one of the highest population growth rates in the world: according to United Nations projections, the Nigerian population will reach 400 million by 2050 — the country currently has over 250 million inhabitants. Nigeria’s GDP, currently at US$363.82 billion, could more than double by 2050, reaching US$1 trillion. At the same time, the country faces one of the highest rates of food insecurity in the world, with 24.8 million people suffering from hunger (WFP). In sub-Saharan Africa, 76% of the population living in extreme poverty live off agriculture (WB).
"Our goal is to establish a solid partnership and support Nigeria in addressing food insecurity. Experience in the regions where we operate around the world shows that developing a sustainable food production chain generates a virtuous cycle of socioeconomic progress for the population, especially the most vulnerable groups", said Gilberto Tomazoni, Global CEO of JBS.
Under the memorandum, JBS will develop a five-year investment plan, which will include feasibility studies, preliminary facility designs, budget estimates and an action plan for developing the supply chain. The Nigerian government, in turn, will ensure the economic, health and regulatory conditions necessary for the viability and success of the project. The document foresees the construction of 6 factories - 3 for poultry, 2 for beef and one for pork - with an investment of US$ 2.5 billion.
Protein production in the country accounts for 10% of GDP and supplies 40% of domestic demand. Expanding local production has the potential to not only improve food security but significantly reduce imports, generating local jobs and supporting millions of smallholder farmers.
JBS's investment plan in Nigeria will include extensive work to develop local production chains, supporting small producers and encouraging sustainable agricultural practices, as the Company already does with its thousands of partners in other regions of the world. One example is the Green Offices program, which provides free technical assistance to Brazilian rural producers to increase the efficiency of their production, meeting the most rigorous socio-environmental criteria.
According to a diagnosis carried out by the B20 Food Systems Task Force, the business arm of the G20, during Brazil's presidency, stimulating increased productivity through the adoption of innovative technologies in the field and technical assistance to producers, especially small farmers, is essential to guarantee increased agricultural production, preserving natural resources and promoting access to quality food for the most vulnerable populations. This was one of the recommendations of the task force, later adopted by the final declaration of the G20 leaders.
"Our goal is to collaborate with the Government of Nigeria to support the implementation of the National Food Security Plan, sharing our expertise in developing a sustainable agro-industrial chain and best practices with the aim of increasing the country’s efficiency, productivity and productive capacity", concluded Tomazoni.
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