NSIA, UK’s Asset Green ink MoU for $496m livestock production, processing platform

*The Nigeria Sovereign Investment Authority signs Memorandum of Understanding with UK based Asset Green Limited, to create about 2,500 direct and 5,000 indirect jobs nationwide, and reduce the country’s reliance on imported milk powder while improving nutrition among 10,000 rural households

Isola Moses | ConsumerConnect

Nigeria’s agri industrial investment is set to receive a boost for enhanced food security, modernised farming, and Nigeria’s dairy production capacity.

ConsumerConnect reports the Nigeria Sovereign Investment Authority (NSIA) has signed a Memorandum of Understanding (MoU) with UK based Asset Green Limited, to create about 2,500 direct and 5,000 indirect jobs nationwide.

The deal between the NSIA and Asset Green Limited is designed 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 fir consumers.

The Authority and the Asset Green Limited had signed the MoU Tuesday, March 17, in London, United Kingdom (UK) ahead of Nigerian President Bola Ahmed Tinubu’s historic State Visit to the UK.

The agreement also outlines the framework for collaboration, and the project development cost commitments leading up to the formal shareholders’ agreement.

This initiative further represents one of the most ambitious integrated dairy investments ever undertaken in the West African country.

The deal will equally 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 will modernise agricultural practices, improve nutrition, and integrate up to 10,000 rural households into the supply chain through inclusive out grower schemes.

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

Ndidiamaka Eze, Senior Press and Public Affairs Officer at the Foreign Commonwealth and Development Office/ British Deputy High Commission Wednesday, March 18, 2026, stated Jonny Baxter, British Deputy High Commissioner to Nigeria, 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.”

Baxter said: “The NSIA and Asset Green partnership is a powerful example of how that groundwork continues to deliver impact.

“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.”

Speaking at the MoU signing ceremony also, Aminu Umar Sadiq, Managing Director and CEO of NSIA, said: “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.”

Umar Sadiq stated: “By combining climate smart farming, advanced processing capacity, and inclusive out grower participation, we are laying the foundation for a modern, competitive dairy sector that reduces import dependence, creates meaningful jobs, and delivers long term value for Nigerians.”

In his remarks on the occasion, Rod Bassett, Director of Asset Green Limited Director and CEO of Agrium Capital Limited, said: “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 one of collaborating with NSIA and their shared vision and purpose to establish a platform to catalyse the development of such a national strategic priority.

“We are incredibly proud to partner with Nigeria’s premier investment institution.”

Bassett stated: “The development of greenfield projects have consistently played a major role in our history, establishing industries or nurturing young businesses that are able to deliver catalytic transformation.

“This US$500 million greenfield investment in Nigeria’s dairy industry allows for the development of advanced and necessary infrastructure spanning the full production and supply system.

“This is to enhance local production, reduce the reliance on the huge imports of dairy goods into Nigeria, deliver environmental services and strengthen national food sovereignty and nutritional resilience.”

The Nigeria Sovereign Investment Authority is the country’s sovereign wealth fund, established under the NSIA Act (2011), to manage and invest savings from surplus oil revenues on behalf of the Federation.

It focuses on infrastructure, stabilisation, and long term savings to deliver sustainable economic impact. https://nsia.com.ng

Asset Green Limited is a UK based strategic private investment group, focused on large scale, commercially viable agricultural and food processing platforms across emerging markets via their agri-food investment platform Agrium Capital Limited. https://www.assetgreen.com/.

In terms of the background on UK Support to NSIA over time, it is noted that the current partnership draws on years of UK-Nigeria cooperation, including earlier technical support that helped to strengthen NSIA during its formative years.

It also reflects the continued growth of commercial ties between both our countries.

Through a DFID funded programme (Policy Development Facility), the UK provided technical assistance that supported the establishment and operational launch of NSIA in 2011.

This included long term financial and legal advisory support to the Federal Ministry of Finance during the Authority’s formative phase, said the BHC in the statement.

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