The Nigeria Sovereign Investment Authority (NSIA) has signed a Memorandum of Understanding with UK-based Asset Green Ltd to develop a massive integrated dairy livestock production and processing platform, one of the largest investments of its kind in Nigeria’s dairy sector.
The agreement was signed in London on March 17, 2026, on the eve of President Bola Tinubu’s state visit to the United Kingdom.
The project, valued at nearly $496 million, features 20,000 hectares of climate-smart regenerative crop and forage farming, a modern dairy farm with 10,000 milking cows, and an advanced processing facility capable of producing fresh milk, milk powders, butter, cream, and up to 15,000 metric tonnes of infant formula per year.
It aims to sharply cut Nigeria’s dependence on imported milk powder, modernize farming practices, boost nutrition, and integrate up to 10,000 rural households via inclusive out-grower programs.
When fully operational, the initiative is projected to generate over $620 million in annual revenue and create 2,500 direct jobs plus 5,000 indirect jobs across the country.
British Deputy High Commissioner Jonny Baxter highlighted the UK’s long-standing support in establishing the NSIA over a decade ago, calling the partnership a “full-circle moment” that demonstrates sustained economic cooperation and commitment to sustainable, private-sector-led growth.
NSIA Managing Director/CEO Aminu Umar-Sadiq described the deal as a foundation for a competitive, modern dairy industry that reduces imports, generates jobs, and delivers lasting value.
Asset Green Director and Agrium Capital CEO Rod Bassett emphasized the transformative potential of the $500 million greenfield investment in building full-supply-chain infrastructure, enhancing local production, cutting dairy imports, and strengthening food sovereignty and nutritional resilience.
The MoU was signed amid President Tinubu’s two-day state visit, during which he was received by King Charles III and Queen Camilla with full military honours, including a 42-gun salute, and is set to meet Prime Minister Keir Starmer to deepen bilateral ties in trade, investment, immigration, and cultural exchange.
