The Nigeria Sovereign Investment Authority NSIA and UK based Asset Green Ltd have signed a Memorandum of Understanding to develop a large scale integrated dairy platform, aiming to transform Nigeria’s dairy industry, strengthen food security, and create jobs.
The Nigeria Sovereign Investment Authority NSIA has signed a Memorandum of Understanding MoU with UK based Asset Green Ltd to advance the development of a large scale integrated dairy livestock production and processing platform set to transform Nigeria ’s dairy industry and strengthen national food security .
Signed recently in London ahead of the State Visit, the MoU outlines the framework for collaboration and the project development cost commitments leading up to the formal shareholders’ agreement. This initiative represents one of the most ambitious integrated dairy investments ever undertaken in Nigeria, a bold move towards self sufficiency and economic diversification. The project's scope is significant, aiming to create a comprehensive dairy ecosystem. It will combine 20,000 hectares of climate smart, regenerative crop and forage production with a modern 10,000 milking cow dairy operation, supported by a state of the art processing plant capable of producing a wide range of dairy products. The plant will produce fresh milk, milk powders, butter, cream, and up to 15,000 metric tonnes of infant formula annually, addressing critical nutritional needs within the country. This project is meticulously designed to significantly reduce Nigeria’s reliance on imported milk powder. It promises to modernize agricultural practices, enhancing efficiency and sustainability while simultaneously improving nutrition for the population. Moreover, it aims to integrate up to 10,000 rural households into the supply chain through inclusive out grower schemes. This approach will not only provide economic opportunities for rural communities but also contribute to a more resilient and equitable food system. The impact of this project extends far beyond the immediate improvements in the dairy industry. Once operational, the platform is expected to generate over US 620 million annually, injecting substantial capital into the Nigerian economy. Furthermore, it is projected to create 2,500 direct and 5,000 indirect jobs nationwide, offering employment opportunities and contributing to economic growth. British Deputy High Commissioner, Jonny Baxter, highlighted the UK’s long standing support for Nigeria’s development. He noted that over a decade ago, the UK provided pivotal support to Nigeria in establishing the NSIA, offering legal and financial expertise. This early institutional investment has paid dividends, helping to build a resilient Nigerian institution capable of creating jobs and driving transformational, long term development. The partnership between NSIA and Asset Green is seen as a powerful example of how that groundwork continues to deliver impact. It represents a full circle moment that reflects the long term economic cooperation between the UK and Nigeria and the shared commitment to deepening sustainable, private sector driven growth. NSIA Managing Director CEO, Aminu Umar Sadiq, expressed his enthusiasm for the project. He stated that with a project size of almost US 500 million, this is one of the most ambitious initiatives to strengthen Nigeria’s food and nutrition security in a generation. He emphasized that by combining climate smart farming, advanced processing capacity, and inclusive out grower participation, they are laying the foundation for a modern, competitive dairy sector that reduces import dependence, creates meaningful jobs, and delivers long term value for Nigerians. The commitment to sustainability and inclusivity is central to the project’s design, ensuring that it benefits both the environment and the people of Nigeria. Rod Bassett, Director of Asset Green Ltd and CEO of Agrium Capital Ltd, emphasized the innovative nature of the partnership. He stated that this partnership between NSIA and Asset Green is the business and investment innovation required to unlock the potential of the agriculture sector in Nigeria, with the development of such a future dairy food system. The foundation of the approach is collaboration with NSIA and its shared vision and purpose to establish a platform to catalyse the development of this national strategic priority. He expressed pride in partnering with Nigeria’s premier investment institution. The development of greenfield projects has consistently played a major role in their history, establishing industries or nurturing young businesses that can deliver catalytic transformation. This project underscores a commitment to sustainable economic growth and highlights the potential for public private partnerships to drive transformative development in Nigeria
Nigeria Dairy Industry NSIA Asset Green Ltd Investment Food Security Agriculture Economic Development UK Nigeria Partnership
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