The Nigeria Sovereign Investment Authority has entered into a landmark agreement with Asset Green Ltd to develop a large scale integrated dairy production and processing platform aimed at transforming Nigeria dairy industry and strengthening national food security.
The Memorandum of Understanding was signed in London ahead of President Bola Tinubu state visit to the United Kingdom. The agreement outlines collaboration frameworks and financial commitments required to move the project toward a full shareholders agreement.
Once operational the initiative is projected to generate over 620 million dollars annually while creating about 2500 direct jobs and 5000 indirect jobs across Nigeria. It is considered one of the most ambitious dairy investments in the country history.
The project will span 20000 hectares of climate smart and regenerative agricultural land alongside a modern dairy facility housing 10000 milking cows. A state of the art processing plant will produce fresh milk butter cream milk powder and up to 15000 metric tonnes of infant formula each year.
In addition to boosting production the initiative aims to reduce Nigeria reliance on imported dairy products improve nutrition and integrate up to 10000 rural households into the supply chain through inclusive out grower programs.
According to Jonny Baxter the partnership reflects long standing economic cooperation between Nigeria and the United Kingdom while reinforcing sustainable private sector growth.
NSIA Managing Director Aminu Umar Sadiq described the investment as a transformative step toward building a modern competitive dairy sector that supports job creation and long term economic value.
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