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The Babajide Sanwo-Olu-led government in Lagos State will next week engage in discussions with JBS, a Brazilian meat processing firm, in respect of the potential to establish a multimillion-dollar investment in the state’s livestock sector.
JBS is an entity in the global meat processing market, handling 80,000 cattle, 15 million chickens, and around 25,000 lambs daily across multiple countries. Furthermore, it packages meat products, including sausages and bacon.
According to the Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, the meeting is being organised by the Nigeria Investment Promotion Commission (NIPC).
JBS had announced its intention to invest $2.5 billion into the livestock sector in Ogun State.
She said discussions are underway with the company to enhance the production of beef, pork, and chicken in the state.
She noted that the government is executing a livestock transformation initiative that has garnered interest from foreign investors. “Our primary focus in livestock production is to enhance our feedlot capacity, which serves as a holding and fattening center to ensure a steady supply in the event of any disruptions in the supply chain. We have commenced by clearing the untouched forest in Igbodu, Epe. The first phase, covering 250 hectares, has been completed. Currently, we have experts and professionals from South Africa on-site to assist in operationalising the feedlot,” she said.
She stated that there are investors seeking opportunities to establish a foothold in various areas, including cattle production, processing, logistics, beef marketing, and distribution.
With a population exceeding 24 million, she said Lagos requires approximately 1.4 million cattle annually, valued at over N490 billion. However, local production from the existing feedlots in the state currently stands at only 12,000 cattle. This situation, she noted, creates a shortfall of more than 1,380,000 cattle, which must be sourced from other states and neighboring countries.
She said the state is in urgent need of investors across different segments of the livestock sector, highlighting that a promising investment opportunity exists within this lucrative value chain, which contributes around five percent to the state’s Gross Domestic Product (GDP).
Aside from investing in the feedlot project, she indicated that opportunities also exist in other areas of the red meat value chain of which investors can take advantage and make good returns on investment.
She encouraged all participants, members of the Organised Private Sector, and other development partners to come on board and join the state in actualising the dream of making the state food-secured.
She reiterated the commitment of the government to develop the livestock sector through the establishment of the cattle feedlot farm estate and other projects which will involve small, medium and large operators.
According to her, the government wants to create a competitive environment to advance the country’s animal industry and support local farmers and producers, adding that a roadmap is being implemented, in consultation with relevant stakeholders.
Credit: thenationonlineng.net
