Nigeria’s Commodities Development Initiative (CDI) has signed a $10 million agreement with Saudi Arabia’s P and I Energy Consults, owners of Jurassic Abattoir, to export high-quality red meat and soybeans from Africa’s most populous nation to Arab country.
Under the agreement, Jurassic Abattoir will produce premium bovine and ovine meat products, while CDI will facilitate market access to Saudi Arabia.
This partnership aims to harness investments in infrastructure and systems to enable Nigeria access the global market.
According to Anyebe Idoga, managing director, P and I Energy Consult, owners of Jurassic Abattoir and Ranch “This partnership is timely and in the nation’s interest as we work in partnership with the Federal and state governments to harness the necessary investments in infrastructure and systems that will enable us to access the global market, starting with the Saudi Arabia market.”
Similarly, Roland Oroh, managing director, Commodities Development Initiative, said the investment will add to the national capacity to produce high quality meat for export.
The agreement in Abuja followed a visit by Saudi Arabia’s Minister of Environment, Water, and Agriculture to Nigeria in May 2024.
The deal is expected to generate significant economic benefits for Nigeria, including an export value of $273 million or N451 billion by 2025, 20,000 direct jobs/100,000 indirect jobs, GDP expansion and foreign exchange generation.
The Jurassic Abattoir project, sponsored by P and I Energy Consult Limited, will have a daily capacity of 1,000 cattle and 500 sheep and goat slaughtering capacity. The project is expected to create 100 direct and indirect jobs upon completion in September 2025.
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