NSIA and Asset Green Sign $496M Dairy Sector Deal

The Nigeria Sovereign Investment Authority (NSIA) and UK-based Asset Green Ltd have signed a memorandum of understanding (MoU) valued at $496 million to transform Nigeria's dairy sector. The agreement was signed in London ahead of President Bola Tinubu's visit to the UK.

The project aims to enhance food security and reduce Nigeria's dependence on imported milk powder by developing a platform that combines 20,000 hectares of climate-smart regenerative crops and modern dairy operations featuring 10,000 milk cows. The facility is expected to produce 15,000 metric tons of infant formula annually.

Once operational, the initiative will integrate 10,000 rural households into the value chain and is projected to generate $620 million annually, creating 2,500 direct and 5,000 indirect jobs nationwide. NSIA Managing Director Aminu Umar Sadiq described the deal as a landmark investment for Nigeria's agricultural future, emphasizing the importance of modernizing agricultural practices to improve nutritional outcomes.