Niger State has secured a landmark $100 million livestock offtake agreement with the Saudi Export and Import Bank, a move that is set to redefine Nigeria’s role in the global protein supply chain.

The deal, which kicks off with an initial $10 million tranche facilitated by the Nigerian Export and Import Bank (NEXIM), was unveiled by Governor Mohammed Umaru Bago at the FirstBank Agric and Export Expo 2025 in Lagos.

“This is a turning point for Nigeria’s non-oil export sector,” Governor Bago declared. “The Saudi government has given us a $100 million commitment, and with NEXIM’s involvement, we are starting with $10 million.”

A $2.5 Billion Opportunity in the Middle East

Rising geopolitical and environmental challenges across the Sahel and Sudan have created urgent demand for reliable livestock supplies in the Middle East. Governor Bago noted that the Saudi deal opens the door to a $2.5 billion annual export opportunity for Nigeria.

“This is not just about meat. Every part of the animal — from tripe and hides to blood, hooves, and skin — holds value. We are building an entire livestock ecosystem,” he explained.

Niger–Lagos Strategic Alliance

Highlighting collaboration with Lagos State, Governor Bago credited Governor Babajide Sanwo-Olu for supporting a joint vision of integrated logistics and supply systems.

• Lagos has already committed a ₦5 billion livestock offtake, part of a broader ₦500 billion agricultural trade pact.
• Niger State will dedicate 100,000 hectares of farmland to supply food and livestock for Lagos, branded as “Lagos Farm.”
• LNG-powered cold-chain trucks will replace the outdated practice of transporting live animals, ensuring that frozen, processed meat reaches markets and retail outlets like Shoprite fully packaged and branded.

Beyond Oil: Driving Non-Oil Exports

Governor Bago emphasized that value addition is key to breaking free from dependency on raw commodity exports.
“If you only produce and export raw goods, you remain vulnerable to global price shifts. When you process, you set the price,” he said, citing initiatives around livestock, cassava, yams, and poultry.

Backing this vision, FirstBank CEO Olusegun Alebiosu reiterated the need for bold diversification beyond oil, stressing agriculture’s central role in Nigeria’s economic transformation.

Governor Sanwo-Olu also reaffirmed Lagos State’s role as a commercial hub and logistics gateway, noting ongoing investments in port upgrades, trade digitalization, and transport corridors to strengthen Nigeria’s export competitiveness.