NSIA Partners UK Firm on $500M Dairy Mega-Project

London, United Kingdom – The Nigeria Sovereign Investment Authority (NSIA) signed a Memorandum of Understanding with UK-based Asset Green Ltd to launch a $500 million dairy project, aiming to slash Nigeria’s import dependence, enhance food security, and modernize agriculture across West Africa’s most populous nation through integrated farming and processing.

Okay News reports NSIA Managing Director Aminu Umar-Sadiq’s excitement, stating, “NSIA is pleased to partner with Asset Green on this transformative investment, with a project size of almost US$500 million, this is one of the most ambitious initiatives aimed at strengthening Nigeria’s food and nutrition security in a generation,” while Asset Green’s Rod Bassett highlighted innovation to unlock potential, and British Deputy High Commissioner Jonny Baxter praised UK-Nigeria ties for development impact.

The venture spans 20,000 hectares for climate-smart crops and forage, a 10,000-cow dairy herd, processing for milk powder, butter, cream, and 15,000 metric tonnes of infant formula yearly, integrating 10,000 rural households via out-grower schemes, projecting $620 million annual revenue, 2,500 direct jobs, and 5,000 indirect ones nationwide.

This fully integrated platform tackles structural gaps like poor seeds, fertilizers, land tenure, irrigation shortages, and climate risks in a sector employing 38 percent of workers and contributing a quarter of GDP, aligning with African Development Bank’s $200 million for climate-smart farming that boosted wheat to 500,000 tonnes via 650,000 smallholders.

Nigeria eyes fivefold wheat and 20 percent rice output jumps through tech and resilience focus, as NSIA advances formal shareholder pacts post-MoU to drive nutrition, forex savings, and rural prosperity.