New partnership targets milk imports, jobs, and food security with ambitious climate-smart agriculture project….
The Nigeria Sovereign Investment Authority (NSIA) has signed a major agreement with UK-based Asset Green Limited to develop a large-scale, integrated dairy production platform in Nigeria marking one of the country’s most ambitious agricultural investments to date.
The memorandum of understanding (MoU) was signed in London ahead of the state visit of Bola Tinubu to the United Kingdom, according to a statement from the British High Commission in Nigeria.
Under the agreement, both parties will collaborate on building a modern dairy ecosystem that spans production, processing, and distribution. The framework is expected to lead to a formal shareholders’ agreement as the project progresses.
At the heart of the initiative is a масштабный plan combining 20,000 hectares of climate-smart forage cultivation with a 10,000-milking cow operation designed to significantly boost local milk production capacity.
The project will also include a processing facility capable of producing a range of dairy products, including fresh milk, butter, cream, milk powder, and up to 15,000 metric tonnes of infant formula annually.
Once operational, the platform is projected to generate more than $620 million in annual revenue while creating about 2,500 direct jobs and an additional 5,000 indirect roles across the country.
Beyond its commercial scale, the initiative is designed to address Nigeria’s heavy reliance on imported dairy products particularly milk powder while strengthening food security and improving nutrition outcomes.
It will also integrate up to 10,000 rural households into its supply chain through out-grower programmes, aimed at boosting local participation and income generation in agricultural communities.
Speaking on the development, Jonny Baxter described the deal as a reflection of long-standing economic ties between Nigeria and the UK.
He noted that the UK had supported the creation of the NSIA over a decade ago, helping to establish a governance structure that has enabled the institution to drive long-term development initiatives.
According to him, the new partnership represents a “full-circle moment” and signals a shared commitment to sustainable economic growth.
On his part, Aminu Umar-Sadiq said the nearly $500 million investment would transform Nigeria’s dairy sector by combining modern farming techniques with advanced processing capabilities.
He added that the project is expected to reduce import dependence, create jobs, and deliver lasting economic value.
Also commenting, Rod Bassett said the collaboration would unlock Nigeria’s vast agricultural potential through infrastructure development and increased local production.
Bassett, who also leads Agrium Capital Ltd., noted that the greenfield investment is structured to promote environmental sustainability while enhancing food sovereignty and resilience.
The deal signals a growing shift toward large-scale, private-sector-led agricultural development in Nigeria positioning the country to not only meet domestic demand but potentially emerge as a regional player in dairy production.
