Governor Mohammed Umaru Bago of Niger State has announced a $100 million offtake agreement with the Saudi Export and Import Bank to supply livestock to the Middle East.
This deal, which begins with a $10 million first tranche, signals a turning point in Nigeria’s non-oil export drive and positions Niger as a critical player in global protein supply chains.
Bago made the disclosure on Tuesday at the FirstBank Agric and Export Expo 2025.
“This is incredible. The Saudi government has given us an offtake agreement for $100 million,” Governor Bago revealed.
“They’ve asked the Nigerian Export and Import Bank (NEXIM) to come in, and we’re starting with the first $10 million.”
This development comes against the backdrop of increasing geopolitical and environmental disruptions in the Sahel and Sudan, which have created urgent demand for livestock across the Middle East.
Bago explained that this is a $2.5 billion annual opportunity, as Saudi Arabia and neighboring countries seek stable, high-volume sources for meat and animal by-products.
“This is not just about meat. The tripe, blood, skin, hooves, every part of the animal has value. We’re building the entire ecosystem.”
The Niger State governor also noted the support of Governor Babajide Sanwo-Olu of Lagos State, emphasizing their shared commitment to an integrated supply and logistics chain.
“Lagos is a consumer state; it has Nigeria’s largest market. We produce for Lagos. And with the N5 billion offtake already provided by Lagos, part of a larger N500 billion agreement, we’re ready to scale.”
To further strengthen this partnership, Bago pledged to allocate up to 100,000 hectares of farmland across Niger to support Lagos’ agricultural needs.
“Not 20,000 hectares – I’m giving you 100,000 hectares. We’ll brand it ‘Lagos Farm’ and produce rice, yams, beans, livestock – anything you need – where each crop has a comparative advantage.”
The collaboration extends into logistics modernization, as Lagos has supported the deployment of LNG-powered cold-chain trucks, which Bago believes will revolutionize meat distribution in Nigeria
“No more transporting live animals to Lagos. We’ll terminate every cow or goat at Mokwa, process them, and ship frozen meat directly to you.
“Just walk into Shoprite and pick the meat you want – all branded and properly packaged.”
Bago underscored the importance of value addition in agriculture. He warned that exporting raw commodities keeps nations “perpetually broke,” and called on banks and financial institutions to shift their approach.
Bago underscored the importance of value addition in agriculture. He warned that exporting raw commodities keeps nations “perpetually broke,” and called on banks and financial institutions to shift their approach.
“If you produce and just export, you’re at the mercy of global prices. But when you process, you set the price. That’s why we’re adding value to yams, cassava, and even poultry. But people don’t know these stories, we must tell them ourselves.”
He also invited the private sector and banks, especially FirstBank, to actively support the transformation.
“We need financing. Right now, interest rates are tripled. Farmers can’t grow under those conditions. We need accessible, affordable finance for real development.”
In his address, Governor Babajide Sanwo-Olu affirmed Lagos State’s role as the commercial backbone and logistics gateway of Nigeria’s agricultural economy. He applauded the federal government’s focus on diversifying away from oil and increasing non-oil exports, particularly under President Bola Tinubu’s administration.
“For the last two years, we’ve seen consistent quarterly growth in non-oil exports. This is the direction we must continue to pursue.”
Sanwo-Olu emphasized the alignment between Lagos and Niger States, especially in using Niger’s vast arable land to supply food for Lagos and beyond.
“The land available in Niger is the size of four or five states combined. Governor Bago is helping us unlock 20,000 hectares for now, but we know the potential goes far beyond that.”
The Lagos governor outlined his administration’s investments in infrastructure to support this national mission, including port modernization, digital trade facilitation, and strategic logistics corridors.
FirstBank CEO, Olusegun Alebiosu, said as a nation, Nigeria finds itself at a pivotal moment in its economic journey, one that demands bold diversification beyond oil and the harnessing of the vast opportunities in our non-oil sectors.
“Today, agriculture, once overlooked, is rightfully at the heart of our national development agenda.”
He said the event, renamed FirstBank Agric & Export Expo, reflects the bank’s renewed and unwavering commitment to positioning non-oil exports as a transformative force in Nigeria’s economy.