LONDON — The Nigeria Sovereign Investment Authority (NSIA) has signed a Memorandum of Understanding (MoU) with UK-based Asset Green Ltd to advance a large-scale, integrated dairy livestock production and processing platform aimed at reducing Nigeria’s dependence on imported dairy products and strengthening national food security. The MoU was signed on Tuesday in London ahead of President Bola Tinubu’s state visit, setting out a framework for collaboration and project-development cost commitments that would lead to a formal shareholders’ agreement. The British High Commission described the initiative as one of the most ambitious integrated dairy investments undertaken in Nigeria.
Under the concept outlined, the platform would combine 20,000 hectares of climate-smart, regenerative crop and forage production with a modern 10,000-milking-cow dairy operation, supported by a processing plant designed to produce fresh milk, milk powder, butter and cream, as well as up to 15,000 metric tonnes of infant formula annually. Project sponsors estimate that once operational the platform could generate more than $620 million in annual revenue and create about 2,500 direct jobs and 5,000 indirect jobs nationwide. It would also integrate up to 10,000 rural households into the supply chain through out-grower schemes. Speaking on the partnership, British Deputy High Commissioner Jonny Baxter said the UK had provided early legal and financial support to help establish the NSIA and strengthen its governance, describing the new deal as a “full-circle moment” reflecting long-term economic cooperation between both countries.
NSIA Managing Director and CEO Aminu Umar-Sadiq said the proposed investment—put at roughly $500 million—is intended to lay the foundation for a modern dairy sector by combining climate-smart farming, advanced processing capacity and inclusive out-grower participation, while delivering jobs and reducing import dependence. The move comes as Nigeria looks to shrink its dairy import burden. In November 2025, Nigeria’s Minister of Livestock Development said the country spends about $1.5 billion annually on dairy imports, arguing that the bill should be redirected into domestic production and value-chain investment.
While the MoU does not amount to a final investment decision, officials say it provides the structure for due diligence and development work toward a binding shareholders’ agreement—an important next step for a project pitched as a cornerstone for Nigeria’s food and nutrition security ambitions.
