By The Nigeria Sovereign Investment Authority (NSIA) and UK-based Asset Green Ltd have entered into a landmark agreement to establish a US$496 million integrated dairy production and processing platform, a move set to overhaul Nigeria’s agricultural landscape.
The Memorandum of Understanding (MoU), signed in London ahead of a high-profile State Visit, paves the way for a massive agri-industrial project designed to strengthen food security and slash the nation’s dependence on imported dairy products.
Once fully operational, the initiative is expected to generate an estimated US$620 million in annual revenue and create 2,500 direct jobs alongside 5,000 indirect roles across the country.
The project stands as one of the most ambitious private-sector-led agricultural investments in Nigeria’s history. It features 20,000 hectares dedicated to climate-smart, regenerative crop and forage cultivation, supporting a modern 10,000-cow dairy farm.
At the heart of the operation will be a high-tech processing plant designed to produce fresh milk, butter, cream, and milk powders, including a significant yearly output of 15,000 metric tonnes of infant formula.
Beyond industrial output, the project aims to integrate 10,000 rural households into the national supply chain through inclusive out-grower schemes. This structure is intended to modernize local farming practices while improving the nutritional standards of communities involved.
The British Deputy High Commissioner, Jonny Baxter, spoke on the historical significance of the partnership, noting the UK’s early role in helping establish the NSIA over a decade ago. “That early institutional investment has paid dividends, helping to build a resilient Nigerian institution capable of creating jobs and driving transformational, long-term development,” Baxter said. He described the new partnership with Asset Green as a “full-circle moment” that reflects the deep economic cooperation between the UK and Nigeria.
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Aminu Umar-Sadiq, Managing Director and CEO of the NSIA, expressed his satisfaction with the deal, categorizing it as a generational shift for the country’s food systems. “With a project size of almost US$500 million, this is one of the most ambitious initiatives aimed at strengthening Nigeria’s food and nutrition security in a generation,” Umar-Sadiq stated. He noted that the combination of advanced processing and inclusive farming creates a foundation for a “modern, competitive dairy sector that reduces import dependence.”
Rod Bassett, Director of Asset Green Ltd and CEO of Agrium Capital Ltd, pointed to the project as a necessary innovation for the Nigerian market. He noted that the partnership is designed to unlock the untapped potential of the country’s agriculture sector through a future-focused food system.
“This US$500 million greenfield investment in Nigeria’s dairy industry allows for the development of advanced and necessary infrastructure spanning the full production and supply system to enhance local production,” Bassett said. He further explained that the goal is to “deliver environmental services and strengthen national food sovereignty and nutritional resilience” while curbing the massive volume of dairy imports currently entering the country.
The collaboration represents a strategic pivot toward sustainable, private-sector-driven growth, aiming to provide long-term economic value and environmental benefits through its climate-smart approach to farming.
Author: admin
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