ABUJA, Nigeria – Brazilian agribusiness giant JBS has pledged a £1.9 billion investment to transform Nigeria’s agricultural sector, a move expected to bolster food security and create thousands of jobs.
The landmark deal was signed during President Bola Tinubu’s participation at the 2024 G20 Leaders’ Summit in Brazil. Officials say it represents one of the largest agricultural investments in Nigeria in recent years and signals deepening bilateral cooperation.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement on Monday described the agreement as “a pivotal moment for Nigeria’s quest for food self-sufficiency and rural prosperity.”
“This investment will significantly expand local food production and create vital opportunities for young people across the agricultural value chain,” Onanuga added.
The deal aligns with Nigeria’s Green Imperative Programme, a £850 million initiative launched in 2019 to modernise farming with 10,000 tractors and 50,000 pieces of equipment.
According to the Presidency, the JBS partnership will not only boost yields but also embed environmentally sustainable practices across farming communities, enhancing resilience in Nigeria’s food system.
Agricultural experts say the partnership could serve as a model for other global investors seeking to tap into Nigeria’s vast potential while contributing to sustainable development.
