President Bola Tinubu has announced that his administration’s focus on attracting international and local investments into Nigeria’s livestock sector will address the long-standing crisis of farmer-herder clashes and promote economic growth.

Speaking in Rio de Janeiro, Brazil, during the signing of a Letter of Intent between the Nigerian government and JBS S.A.—one of the top three largest meat processing companies globally—President Tinubu highlighted the potential of Nigeria’s livestock investment opportunities, valued at over $2.5 billion.

“This agreement will be solving a problem that afflicted humanity in that part of Africa, clashes between farmers and migrating cows that have caused some life and bloodshed, when there is a modern, civilized way to solve the problem and even bring a successful economy out of it,” Tinubu said.

He further emphasized the administration’s efforts to transform challenges into opportunities: “We are trying to turn a situation of tragedy, hopelessness into economic opportunity, see through problems and see the opportunity that is involved in it. Food security is extremely important. As we talk right now, there is hunger. However, there is huge hope. And you are one of those hopes that we are looking at.”

The President assured the executives of JBS S.A. that Nigeria is open for business and promised good returns on their investment.