Nigeria, through the Commodities Development Initiative (CDI), has signed a $10 million agreement with Saudi Arabia's P & I Energy Consults, owners of Jurassic Abattoir, to export premium red meat and soybeans to the Kingdom.
Under the deal, Jurassic Abattoir will produce high-quality bovine and ovine meat products, while CDI will facilitate market access. The partnership is expected to drive investments in infrastructure and expand Nigeria's presence in the global market.
P & I Energy Consult's Managing Director, Anyebe Idoga, emphasized the initiative's alignment with national interests, citing its role in boosting infrastructure and exports.
Similarly, CDI's Managing Director, Roland Oroh, highlighted the project's potential to enhance Nigeria's meat production capacity.
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Expected benefits include a projected $273 million (N451 billion) export value by 2025, 20,000 direct and 100,000 indirect jobs, and GDP growth.
The Jurassic Abattoir project, set for completion in September 2025, will process 1,000 cattle and 500 sheep and goats daily, generating 100 jobs.
This agreement follows Saudi Arabia's Minister of Environment, Water, and Agriculture's visit to Nigeria in May 2024.
