March 24, 2026

 

MoU signed to develop integrated dairy production platform in Nigeria

 

 

The Nigeria Sovereign Investment Authority (NSIA) has signed a memorandum of understanding (MoU) with Asset Green Limited to develop an integrated dairy production platform in Nigeria.

 

Asset Green Ltd is a UK-based private investment group, focused on large‑scale, commercially viable agricultural and food‑processing platforms across emerging markets via its agri-food investment platform Agrium Capital Ltd.

 

The agreement was signed last week in London ahead of Nigerian President Bola Tinubu's state visit to the United Kingdom, according to a statement from the British high commission in Nigeria.

 

The commission said the project would transform Nigeria's dairy sector and strengthen national food security. It added that the MoU provides a framework for collaboration and project development, which will culminate in a formal shareholders' agreement.

 

The initiative is said to be ranked among Nigeria's most ambitious dairy investments, combining 20,000 hectares of climate-smart forage production with a 10,000-milking cow operation.

 

The project is also expected to include a processing facility to produce fresh milk, milk powder, butter, cream, and up to 15,000 metric tonnes of infant formula annually.

 

"Designed to reduce Nigeria's reliance on imported milk powder, the project will modernise agricultural practices, improve nutrition, and integrate up to 10,000 rural households into the supply chain through inclusive out‑grower schemes," the statement reads.

 

"Once operational, the platform is expected to generate over US$620 million annually and create 2,500 direct and 5,000 indirect jobs nationwide."

 

Jonny Baxter, British deputy high commissioner to Nigeria, said the partnership reflects enduring economic ties between Nigeria and the UK.

 

Baxter noted that the UK supported the establishment of the NSIA more than a decade ago by providing legal and financial expertise that strengthened its governance.

 

"That early investment has paid dividends, helping build a resilient institution capable of driving long-term development," he said.

 

The envoy described the NSIA-Asset Green collaboration as a "full-circle moment" in bilateral relations and a signal of shared commitment to sustainable growth.

 

Also speaking on the deal, Aminu Umar-Sadiq, the managing director and chief executive officer of NSIA, said the project is a transformative investment valued at nearly $500 million.

 

"By combining climate-smart farming, advanced processing, and inclusive out-grower participation, we are building a modern, competitive dairy sector," he said.

 

"This will reduce import dependence, create jobs, and deliver long-term value for Nigerians."

 

Also commenting, Rod Bassett, director at Asset Green, said the partnership would unlock Nigeria's agricultural potential.

 

Bassett, who is also CEO of Agrium Capital Ltd., said the greenfield investment would develop infrastructure, boost local production, and cut import dependence.

 

He added that the project would support environmental sustainability while strengthening food sovereignty and nutritional resilience.

 

- The Cable