Connect with us

Business

Nigerian Traders Revolutionize Meat Industry with Innovative Abattoir, Aiming to Slash $400 Million Meat Import Bill

Published

on

meat abattoir

The National Association of Nigerian Traders (NANTS) has unveiled a state-of-the-art abattoir and meat factory in Gwagwalada, Federal Capital Territory, aimed at dramatically reducing Nigeria’s staggering $400 million annual meat importation bill.

This pioneering project, a collaborative effort between NANTS, ECOWAS, Swiss Cooperation, the West African Institute for Agricultural Trade and Development (WAITAD), and the Federal Ministry of Agriculture and Food Security, promises not only economic revival but also heightened food safety standards.

The project, backed by a $275,000 grant from ECOWAS and a $150,000 investment from NANTS, introduces an innovative investment model that gradually transforms into a self-sustaining, job-creating enterprise.

President of NANTS, Mr. Ken Ukaoha, highlighted the dire need for modernization, as the diplomatic community and Nigerians spend exorbitantly on imported meat due to concerns over domestic abattoirs’ hygiene.

The new abattoir is a game-changer, featuring a lairage ensuring the well-being of animals before slaughter and rigorous post-slaughter checks to ensure the meat’s quality. It boasts processing and packaging units, a cold room, a management office, and a training center for butchers.

Madam Massandje Toure-Litse, ECOWAS Commissioner for Economic Affairs and Agriculture, commended the project, emphasizing its potential to uplift the livestock sector amidst regional challenges.

President Ukaoha pledged to replicate this success in other ECOWAS nations, marking a remarkable leap forward in transforming Africa’s meat industry and reducing foreign exchange expenditure.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Comments
Advertisement
Advertisement