NSIA, UK Firm Sign MoU to Develop $496m Livestock Production in Nigeria

Stories by Emma Okonji

The Nigeria Sovereign Investment Authority (NSIA) has signed a Memorandum of Understanding (MoU) with UK‑based Asset Green Ltd 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.

Signed in London, the MoU outlines the framework for collaboration and the project‑development cost commitments leading up to the formal shareholders’ agreement.

The initiative represents one of the most ambitious integrated dairy investments ever undertaken in Nigeria.

Speaking during the signing ceremony, British Deputy High Commissioner, Jonny Baxter, 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.”

NSIA Managing Director/CEO, Aminu Umar‑Sadiq, 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. 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.”

Asset Green Ltd Director & Agrium Capital Limited CEO, Rod Bassett, 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.”