The Nigeria Sovereign Investment Authority (NSIA) has signed a deal with UK-based Asset Green Ltd to develop a $500 million large-scale dairy project in Nigeria.
The agreement was disclosed in a statement issued by NSIA on Wednesday following the signing of a Memorandum of Understanding (MoU) in London on Tuesday.
The initiative is expected to reduce Nigeria’s reliance on imported dairy products, strengthen food security, and boost local production capacity across the country.
The statement outlines a framework for collaboration between both parties, including commitments towards project development costs ahead of a formal shareholders’ agreement. It highlights the strategic importance of the investment in transforming Nigeria’s agricultural landscape.
“NSIA is pleased to partner with Asset Green on this transformative investment. With a project size of almost US$500 million, this is one of the most ambitious initiatives aimed at strengthening Nigeria’s food and nutrition security in a generation,” said Aminu Umar-Sadiq, Managing Director and CEO of NSIA.
Rod Bassett, Director at Asset Green Ltd and CEO of Agrium Capital, noted that the partnership reflects the kind of innovation needed to unlock Nigeria’s agricultural potential and reduce heavy dairy imports.
British Deputy High Commissioner Jonny Baxter emphasised that the partnership demonstrates the impact of sustained UK-Nigeria institutional collaboration in driving long-term development.
The remarks collectively highlight the scale and strategic intent behind the partnership, positioning it as a landmark investment in Nigeria’s food system.
