The Nigeria Sovereign Investment Authority partners Asset Green on US$496M dairy investment

NIGERIA – The Nigeria Sovereign Investment Authority (NSIA) and UK-based Asset Green Ltd have partnered to establish a US$500 million integrated dairy production and processing platform.

The agri-industrial investment is expected to boost food security, modernise farming, and expand Nigeria’s dairy production capacity.

A Memorandum of Understanding (MoU), signed in London, paves the way for a massive agri-industrial project designed to strengthen food security and slash the nation’s dependence on imported dairy products.

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.

NSIA Managing Director/CEO, Aminu Umar-Sadiq, categorised the deal 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.

At the core 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 modernise local farming practices while improving the nutritional standards of communities involved.

British Deputy High Commissioner Jonny Baxter said: “Over a decade ago, the UK provided pivotal support to Nigeria in establishing the NSIA, offering legal and financial expertise that helped lay the foundation for its successful launch and strengthen its governance and credibility.

““The NSIA and Asset Green partnership is a powerful example of how that groundwork continues to deliver impact – a full-circle moment that reflects the long-term economic cooperation between the UK and Nigeria and the shared commitment to deepening sustainable, private-sector-driven growth.”

Asset Green Ltd Director and Agrium Capital Ltd CEO, Rod Bassett, 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.

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