Lagos: The Nigeria Sovereign Investment Authority (NSIA) has entered into a landmark $500 million agreement with UK-based Asset Green Ltd. to establish an integrated dairy production platform. The deal is expected to boost Nigeria’s agricultural value chain, reduce import dependence, and position the country as a regional hub for large-scale dairy production.
British Deputy High Commissioner to Nigeria, Jonny Baxter, said in a statement on Wednesday that the project would transform Nigeria’s dairy sector and strengthen national food security.
Baxter said the agreement was signed in London before President Bola Tinubu’s state visit.
The MoU sets a framework for collaboration and future shareholder agreement.
This is one of Nigeria’s largest dairy investments, combining 20,000 hectares of forage with 10,000 dairy cows.
It includes a facility to produce fresh milk, milk powder, butter, cream, and up to 15,000 tonnes of infant formula annually.
The project aims to cut imports, modernise agriculture, improve nutrition, and integrate 10,000 rural households via out-grower schemes.
It is projected to generate over $620 million each year and create about 7,500 jobs.
Baxter said the partnership highlights strong economic ties between Nigeria and the UK.
The UK supported NSIA’s establishment over a decade ago, providing expertise to strengthen its governance.
Baxter said this investment helped NSIA become a resilient, development-focused institution.
He called the NSIA-Asset Green partnership a “full-circle moment” for bilateral relations and sustainable growth.
NSIA Managing Director Aminu Umar-Sadiq said the project is a nearly $500 million transformative investment.
“We are building a modern, competitive dairy sector by combining climate-smart farming, advanced processing, and inclusive out-grower participation.
This will reduce imports, create jobs, and deliver lasting value for Nigerians,” Umar-Sadiq said.
Asset Green Director Rod Bassett said the partnership will unlock Nigeria’s agricultural potential.
Bassett, also the Chief Executive Officer of Agrium Capital Ltd., said the greenfield investment would develop infrastructure, boost local production, and reduce import dependence.
He added that the project would support environmental sustainability while strengthening food sovereignty and nutritional resilience.
