Nigeria and UK Sign $496 Million Dairy Production Agreement

The Nigeria Sovereign Investment Authority (NSIA) and UK-based Asset Green Ltd have entered a significant agreement to establish a $496 million integrated dairy production and processing platform. The Memorandum of Understanding (MoU) was signed in London before a State Visit, marking a pivotal step for Nigeria's agricultural sector.

Upon full operation, the project is anticipated to generate around $620 million in annual revenue and create 2,500 direct jobs, along with 5,000 indirect roles nationwide. The initiative is one of the most ambitious private-sector-led agricultural investments in Nigeria's history, featuring 20,000 hectares dedicated to climate-smart, regenerative crop and forage cultivation, supporting a modern 10,000-cow dairy farm.

The project will include a high-tech processing plant producing fresh milk, butter, cream, and milk powders, with a significant output of 15,000 metric tonnes of infant formula annually. Additionally, it aims to integrate 10,000 rural households into the national supply chain through inclusive out-grower schemes, enhancing local farming practices and community nutrition.

Jonny Baxter, the British Deputy High Commissioner, highlighted the historical significance of the partnership, noting the UK's early role in establishing the NSIA over a decade ago. Aminu Umar-Sadiq, CEO of the NSIA, described the project as a transformative shift for Nigeria's food systems, aiming to build a modern, competitive dairy sector that reduces import dependence.

Rod Bassett, Director of Asset Green Ltd, emphasized the project's role in unlocking the potential of Nigeria's agriculture sector through a future-focused food system. He stated that the investment will provide essential infrastructure to enhance local production and strengthen national food sovereignty.