The Nigeria Sovereign Investment Authority (NSIA) has entered into a Memorandum of Understanding (MoU) with UK-based Asset Green Ltd to drive the development of a large-scale integrated dairy livestock production and processing platform aimed at transforming Nigeria’s dairy sector and strengthening national food security.
The agreement was signed in London ahead of the ongoing state visit, outlining a framework for collaboration as well as financial commitments required for the project’s development phase before the final shareholders’ agreement is executed.
The initiative is considered one of the most ambitious dairy investments in the country, with a projected value of nearly $500 million. It is designed to significantly reduce Nigeria’s dependence on imported milk products by establishing a modern and sustainable dairy value chain.
The project will span approximately 20,000 hectares of climate-smart and regenerative crop and forage production. It will also include a 10,000-milking cow dairy facility, supported by an advanced processing plant capable of producing fresh milk, milk powder, butter, cream, and up to 15,000 metric tonnes of infant formula annually.
In addition to boosting local production, the initiative will integrate about 10,000 rural households into the supply chain through structured out-grower schemes, thereby enhancing livelihoods and promoting inclusive economic growth.
Upon completion, the platform is expected to generate over $620 million in annual revenue while creating 2,500 direct jobs and an additional 5,000 indirect employment opportunities across the country.
Speaking on the development, the British Deputy High Commissioner, Jonny Baxter, highlighted the longstanding partnership between the United Kingdom and Nigeria. He noted that the UK had previously supported the establishment of the NSIA by providing legal and financial expertise, which helped strengthen its institutional credibility and governance.
He described the new partnership as a continuation of that cooperation, emphasizing its potential to drive sustainable, private sector-led growth and long-term economic impact.
NSIA’s Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, stated that the project represents a strategic step towards building a modern and competitive dairy industry in Nigeria.
He explained that the initiative combines climate-smart agriculture, advanced processing capabilities, and inclusive participation from local farmers, all aimed at reducing import dependence, creating jobs, and delivering long-term value to Nigerians.
Also speaking, Rod Bassett, Director at Asset Green Ltd and Chief Executive Officer of Agrium Capital Ltd, described the partnership as a critical investment innovation needed to unlock Nigeria’s agricultural potential.
He said the project would facilitate the development of essential infrastructure across the entire dairy value chain, strengthen local production capacity, reduce reliance on imports, and enhance environmental sustainability and national food resilience.
The signing of the MoU took place alongside the two-day state visit of President Bola Ahmed Tinubu to the United Kingdom. During the visit, the President held high-level engagements with British leaders aimed at strengthening bilateral relations and exploring opportunities in trade, investment, immigration, and cultural exchange.
The visit also featured a ceremonial reception, underscoring the growing diplomatic and economic ties between both nations.
