CSOs Demand Transparency on JBS $2.5bn Investment MoU

Civil society organizations and stakeholders have called on the Federal Government to publicly disclose the Memorandum of Understanding (MoU) signed with Brazilian meat-processing company JBS concerning its proposed $2.5 billion investment in Nigeria. This demand was made during a workshop organized by the Youth in Agroecology and Restoration Network (YARN) in Abeokuta, Ogun State.

YARN’s Director of Consultancy, Oluwaseyi Olayemi, emphasized the need for transparency to allow civil society organizations to scrutinize the agreement's terms and identify potential environmental, economic, health, and social risks linked to the establishment of six large-scale industrial animal-farming facilities. Olayemi stated that while they support foreign investment, it is crucial to have adequate safeguards in place.

He expressed frustration over conflicting responses from government authorities regarding the MoU's location, complicating efforts to obtain it. Olayemi also called for strict enforcement of Nigeria’s environmental and agricultural regulations to ensure compliance by foreign investors.