NSIA seals $500m dairy deal to boost local production, cut imports

The Nigeria Sovereign Investment Authority (NSIA) has signed a $500 million agreement with Asset Green Ltd to develop a large-scale dairy project in Nigeria aimed at strengthening food security and reducing reliance on imports.

The deal, formalised through a Memorandum of Understanding in London, is designed to transform Nigeria’s dairy value chain through an integrated system covering farming, processing, and distribution.

NSIA Managing Director, Aminu Umar-Sadiq, described the initiative as “one of the most ambitious investments aimed at strengthening Nigeria’s food and nutrition security in a generation.”

The project will span 20,000 hectares of climate-smart agriculture alongside a 10,000-milking-cow operation, with facilities to produce fresh milk, butter, cream, milk powder, and up to 15,000 metric tonnes of infant formula annually.

It is projected to generate about $620 million yearly, creating 2,500 direct jobs and 5,000 indirect jobs, while integrating up to 10,000 rural households into its supply chain.

Officials say the initiative reflects growing collaboration between Nigeria and the United Kingdom to unlock agricultural potential and drive long-term development, with expectations that it will ease pressure on foreign exchange and improve nutrition outcomes nationwide.