By Abdulfatah bBabatunde
The Democratic Front (TDF), a social-political group, has welcomed the JBS, a global meat company, proposal to inject a $2.5bn investment in Nigeria.
TheNewsZenith reports that the group also congratulated President Bola Tinubu for facilitating the investment.
TDF’s Chairman, Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, said in a statement that the investment signified the international community’s vote of confidence in the Tinubu economic reform.
TDF stated under the proposed investment, the Brazilian company, will build six new meat factories in Nigeria.
TheNewsZenith learnt that JBS is also one of the largest meat packaging firms in the world.
“We appreciate the significance of this investment more when objectively contextualised within its potency to stimulate our agro-economy and create jobs and wealth in the livestock value chain.
“We, particularly, welcome this remarkable success as a major achievement of the administration.
“This is because it is in tandem with President Bola Tinubu’s unwavering commitment to the economic development of the 774 local government areas,” the statement read in part.
TheNewsZenith also gathered that the proposed JBS investment is one of the take-homes of President Tinubu from the recently concluded G20 summit in Rio de Janeiro.
Read Related News:
- N5.7tr revenue: Evidence of Tinubu’s economic reengineering – TDF
- TDF hails FG’s 2 creative projects to boost digital economy
- Nigeria’s economy transiting to another model – IMPI
- Reopening of Lagos-Kano Railway, major economic rebound – TDF
- World Bank VP wrong on Obasanjo’s economic reforms – TDF
“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. 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.
“Nigeria, on the other hand, will provide 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.
“This is in line with President Tinubu’s decision to set up a ministry to oversee livestock development.”
TDF also expressed the conviction that the agricultural sector would receive a boost under President Tinubu’s administration.
Do you have a flair for Citizenship Journalism? Share stories of happenings in your area with TheNewsZenith on WhatsApp: 08033668669 or thenewszenithonline@gmail.com. Follow us on www.tiktok.com/@thenewszenithonline. Also, visit, subscribe and like our videos on YouTube @thenewszenithOnline
