The Nigeria Commodities Development Initiative (CDI) has signed a $10 million agreement with P and I Energy Consults of Saudi Arabia, owners of Jurassic Abattoir. The aim is to facilitate the export of high-quality red meat and soybeans from Africa's most populous nation to an Arab country

Under the agreement, Jurassic Abattoir will produce high-quality beef and sheep meat products, while CDI will facilitate access to the Saudi Arabian market.

This partnership aims to mobilize investments in infrastructure and systems to enable Nigeria to access the global market.

According to Anyebe Idoga, managing director of P and I Energy Consult, owners of Jurassic Abattoir and Ranch, “this partnership is timely and in the best interests of the nation, as we work in partnership with federal and state governments to harness the necessary investments in infrastructure and systems. which will allow us to access the global market, starting with the Saudi market.

Likewise, Roland Oroh, managing director of the Commodities Development Initiative, said that the investment will strengthen the national capacity to produce high-quality meat for export.

The Abuja Agreement follows a visit by the Saudi Minister of Environment, Water and Agriculture to Nigeria in May 2024.

The agreement is expected to generate significant economic benefits for Nigeria, including an export value of $273 million or 451 billion naira by 2025, 20,000 direct jobs/100,000 indirect jobs, GDP expansion, and foreign exchange generation.