Nigeria’s Sovereign Investment Authority (NSIA) has teamed up with Asset Green Limited on a formal agreement to roll out a full-scale dairy farming and processing complex across the country.
The UK-headquartered private equity outfit Asset Green Limited specialises in building massive, profit-driven agribusiness and food manufacturing operations in developing economies, working through its dedicated arm Agrium Capital Ltd.
Officials put pen to paper on the deal in London this Tuesday, timed just ahead of President Bola Tinubu’s upcoming official trip to Britain, the British High Commission in Nigeria disclosed in a statement released the next day.
British officials described the venture as a game-changer that will overhaul the nation’s milk industry while reinforcing the country’s overall food security.
The memorandum lays out a roadmap for joint work and project rollout that is expected to lead eventually to a binding shareholders’ agreement.
Insiders rank the scheme as one of the country’s boldest-ever dairy plays, featuring 20,000 hectares of environmentally friendly pasture cultivation paired with a 10,000-head milking herd.
A state-of-the-art factory will also be built to churn out fresh milk, powdered milk, butter, cream and up to 15,000 metric tonnes of infant formula every year.
“Designed to reduce Nigeria’s reliance on imported milk powder, the project will modernise agricultural practices, improve nutrition, and integrate up to 10,000 rural households into the supply chain through inclusive out‑grower schemes,” the statement reads.
“Once operational, the platform is expected to generate over US$620 million annually and create 2,500 direct and 5,000 indirect jobs nationwide.”
British Deputy High Commissioner Jonny Baxter hailed the partnership as proof of the deep-rooted economic bonds between Nigeria and the United Kingdom.
Baxter recalled that Britain helped set up the NSIA more than ten years ago, supplying legal and financial know-how that fortified its governance framework.
“That early investment has paid dividends, helping build a resilient institution capable of driving long-term development,” he said.
The envoy labelled the NSIA-Asset Green tie-up a “full-circle moment” in bilateral relations and clear evidence of both sides’ resolve to pursue sustainable progress.
NSIA Managing Director/CEO Aminu Umar-Sadiq called the project a landmark investment worth nearly $500 million.
“By combining climate-smart farming, advanced processing and inclusive out-grower participation, we are building a modern, competitive dairy sector,” he said.
“This will reduce import dependence, create jobs and deliver long-term value for Nigerians.”
Rod Bassett, a director at Asset Green and chief executive of Agrium Capital Ltd, said the alliance will unleash Nigeria’s untapped farming promise.
He explained that the greenfield project will put in place vital infrastructure, lift local output and slash reliance on foreign supplies.
He said the project would support environmental sustainability while strengthening food sovereignty and nutritional resilience.
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