NSIA, UK Firm Sign $496m Dairy Livestock MoU

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 to transform Nigeria’s dairy industry and strengthen national food security.

Once operational, the platform is expected to generate over US$620 million annually and create 2,500 direct and 5,000 indirect jobs nationwide.

Signed Tuesday in London, ahead of President Bola Tinubu’s State Visit, the MoU outlined the framework for collaboration and the project-development cost commitments leading up to the formal shareholders’ agreement.

The initiative, according to a statement by the British High Commission, represents one of the most ambitious integrated dairy investments ever undertaken in Nigeria.

The initiative 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 state-of-the-art processing plant capable of producing fresh milk, milk powders, butter, cream, and up to 15,000 metric tonnes of infant formula annually.

Designed to reduce Nigeria’s reliance on imported milk powder, the project would modernise agricultural practices, improve nutrition, and integrate up to 10,000 rural households into the supply chain through inclusive out-grower schemes.

Commenting on the agreement, British Deputy High Commissioner, Jonny Baxter, said: “Over a decade ago, the UK provided pivotal support to Nigeria in establishing the NSIA, offering legal and financial expertise that helped lay the foundation for its successful launch and strengthening its governance and credibility.

That early institutional investment has paid dividends, helping to build a resilient Nigerian institution capable of creating jobs and driving transformational, long-term development.