By Ayomide Otitoju
The Nigeria Sovereign Investment Authority (NSIA) has signed a Memorandum of Understanding (MoU) with UK-based Asset Green Ltd to develop a large-scale integrated dairy livestock production and processing platform aimed at modernising Nigeria’s dairy sector and boosting national food security.
The agreement, signed in London ahead of President Bola Tinubu’s state visit to the UK, sets out the framework for collaboration and project-development cost commitments prior to a formal shareholders’ agreement. The initiative is one of the most ambitious dairy investments in Nigeria, designed to reduce reliance on imported milk powder.
The project will combine 20,000 hectares of climate-smart regenerative crops and forage production with a 10,000-milking cow dairy operation and a state-of-the-art processing plant capable of producing fresh milk, milk powders, butter, cream, and up to 15,000 metric tonnes of infant formula annually. Inclusive out-grower schemes are expected to integrate up to 10,000 rural households into the supply chain.
Once operational, the platform is projected to generate over $620 million annually and create 2,500 direct and 5,000 indirect jobs nationwide.
“NSIA is pleased to partner with Asset Green on this transformative investment. With a project size of almost US$500 million, this initiative strengthens Nigeria’s food and nutrition security, creates meaningful jobs, and lays the foundation for a modern, competitive dairy sector,” said NSIA Managing Director and CEO Aminu Umar-Sadiq.
British Deputy High Commissioner Jonny Baxter highlighted the long-standing UK-Nigeria economic cooperation, noting that early UK support in establishing NSIA had helped build a resilient institution capable of driving transformational development.
Asset Green Ltd Director and Agrium Capital CEO Rod Bassett described the partnership as “the business and investment innovation required to unlock the potential of Nigeria’s agriculture sector,” emphasizing the project’s role in developing infrastructure, enhancing local production, and strengthening national food sovereignty.
The MoU was signed during President Tinubu’s two-day state visit to the UK, where he met King Charles III and Queen Camilla, received a 42-gun salute, and is scheduled to hold a bilateral meeting with UK Prime Minister Keir Starmer at 10 Downing Street. The visit aims to enhance bilateral relations and explore cooperation on trade, investment, immigration, and cultural exchange.
