By 𝔸bdulrazak Tomiwa

The Nigeria Sovereign Investment Authority (NSIA) and UK-based Asset Green Ltd have signed a $496 million MoU for a massive integrated dairy platform. 

This London-signed agreement aims to modernize Nigeria’s agricultural sector and significantly reduce its heavy reliance on imported dairy products.

The project involves 20,000 hectares of land for climate-smart crop and forage cultivation to support 10,000 milking cows. By using regenerative farming, the initiative seeks to enhance food security while ensuring production remains environmentally sustainable and resilient to climate change.

A high-tech plant will produce fresh milk, butter, and cream, including 15,000 metric tonnes of infant formula annually. Once operational, the platform is projected to generate $620 million in annual revenue, boosting the national economy and addressing critical nutritional needs.

The investment is expected to create 2,500 direct and 5,000 indirect jobs across the country. An inclusive out-grower scheme will also integrate 10,000 rural households into the supply chain, modernizing local farming practices and improving community nutritional standards.

British Deputy High Commissioner Jonny Baxter highlighted the deal’s historical significance, noting the UK’s long-standing support in establishing the NSIA. He described it as a “full-circle moment” reflecting deep economic cooperation and transformational, long-term institutional development.

NSIA Managing Director Aminu Umar-Sadiq called the deal a “generational shift” for Nigeria’s food systems and a foundation for a competitive dairy sector. Rod Bassett of Asset Green Ltd added that the innovation is vital to unlocking Nigeria’s agricultural potential.