Nigeria’s Dairy Industry Gets a Boost with $496m Investment

Dayo Thomas

The Nigeria Sovereign Investment Authority (NSIA) has signed a Memorandum of Understanding (MoU) with UK-based Asset Green Ltd to develop a $496 million integrated dairy livestock production and processing platform. This ambitious project aims to transform Nigeria’s dairy industry, strengthen national food security, and reduce reliance on imported milk powder.

The initiative will combine 20,000 hectares of climate-smart, regenerative crop and forage production with a modern 10,000-milking cow dairy operation. A state-of-the-art processing plant will produce fresh milk, milk powders, butter, cream, and up to 15,000 metric tonnes of infant formula annually. This project is expected to generate over $620 million annually and create 2,500 direct and 5,000 indirect jobs nationwide

The project will also integrate up to 10,000 rural households into the supply chain through inclusive out-grower schemes, promoting sustainable agriculture and improving livelihoods. NSIA Managing Director & CEO, Aminu Umar-Sadiq, emphasized that this investment is crucial for Nigeria’s food and nutrition security, while Asset Green Ltd Director & Agrium Capital Ltd CEO, Rod Bassett, highlighted the partnership’s potential to unlock Nigeria’s agricultural sector