Nigeria Sovereign Investment Authority has signed a Memorandum of Understanding with UK-based Asset Green Ltd to develop a $496m integrated dairy production and processing project in Nigeria.
The agreement, signed in London, is aimed at boosting local dairy production, strengthening food security, and expanding commercial agriculture.
The project will span about 20,000 hectares of farmland and include a 10,000-milking cow dairy facility, supported by a processing plant for products such as fresh milk, butter, cream, and infant formula.
It is expected to reduce Nigeria’s reliance on imported dairy products while improving local production capacity.
The Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, said the project would strengthen food and nutrition security and build a competitive dairy sector.
He said the initiative combines climate-smart farming, modern processing, and inclusive participation to reduce import dependence and create jobs.
A representative of Asset Green Ltd, Rod Bassett, said the partnership would help unlock the potential of Nigeria’s agricultural sector and support large-scale dairy production.
He added that the investment would enhance infrastructure across the value chain and reduce reliance on imported dairy products.
The project is projected to generate about $620m annually and create 2,500 direct jobs, as well as 5,000 indirect jobs nationwide.
It will also integrate up to 10,000 rural households into the dairy value chain through out-grower schemes.
