Farmers raise concerns over Brazilian firm’s $2.5bn agric investment

Farmers, civil society organisations, and community leaders have urged the Federal Government to suspend the implementation of its $2.5bn livestock investment agreement with Brazilian meatpacking giant, JBS.

The stakeholders, who spoke on Friday in Abeokuta, Ogun State, at the South West Regional Workshop on the “Implications of Industrial Animal Farming in Nigeria”, insisted that the deal must undergo comprehensive and independent environmental and social impact assessments before execution.

They also demanded mandatory community consultations, particularly with traditional rulers and transparent public scrutiny.

The Federal Government last year signed a letter of intent with the JBS S.A, a top global meat processing company, for investment in Nigeria’s $2.5 billion livestock sector.

JBS is a Brazilian multinational corporation and one of the world’s largest meat producers, specialising in beef, poultry, and pork, with operations in multiple countries.

According to a statement by the Special Adviser on Information and Strategy, Bayo Onanuga, President Bola Tinubu witnessed the signing ceremony on November 21, 2024 in Rio de Janeiro, Brazil.

The investment which includes construction of six new meat factories in Nigeria, according to the government is aimed at developing the country’s meat processing sector.