Nigeria Secures Landmark Red Meat Export Deal with Saudi Arabia

In a significant boost to Nigeria’s livestock sector, Jurassic Abattoir and Commodities Development Initiative (CDI) have signed a Memorandum of Agreement (MoA) to export red meat to the Kingdom of Saudi Arabia. This strategic partnership aligns with the federal government’s push to expand Nigeria’s presence in global agricultural markets.

According to a statement by the Ministry of Livestock Development, the collaboration is timely and crucial for Nigeria’s economic interests. The ministry expressed its readiness to support the partnership by working with state governments to develop necessary infrastructure and systems that will facilitate global market access, starting with Saudi Arabia.

The Managing Director of P and I Energy Consult, owners of Jurassic Abattoir and Ranch, Dr. Anyebe Idoga, outlined the key aspects of the agreement. Under the partnership, Jurassic Abattoir will be responsible for producing high-quality bovine and ovine meat products, while CDI will oversee market access and offtake arrangements. CDI will work closely with the Saudi Agricultural and Livestock Investment Company (SALIC) and private meat importers in Saudi Arabia to ensure seamless export operations.

Beyond meat exports, the investment is projected to enhance Nigeria’s national capacity to produce high-quality meat for both local and international markets. The initiative is expected to generate approximately 20,000 direct jobs and 100,000 indirect jobs, contributing significantly to Nigeria’s Gross Domestic Product (GDP). Additionally, the venture will include the production of alfalfa hay and soybean meal, further boosting foreign exchange earnings and strengthening the naira.

The partnership targets the production and export of 35,200 metric tons (MT) of red meat, valued at approximately $273 million (N451 billion), by the end of 2025.

This development follows President Bola Tinubu’s call for foreign investment in Nigeria’s agricultural sector during the Saudi-Nigeria Business Forum held in Riyadh in November 2023. The President had invited Saudi authorities to invest in Nigeria’s economy, a move that is now materializing through this landmark agreement.

With this initiative, Nigeria is poised to leverage its livestock sector for substantial economic gains, marking a new chapter in agricultural exports and international trade.