NSIA and Asset Green sign $496 million MoU to build Nigeria's largest integrated dairy platform
Integrated dairy livestock production and processing platform in Nigeria
Agrium Capital Ltd CEO, Rod Bassett, Group CIO, United Green Group, Albrecht Frischenschlager, UK trade Envoy to Nigeria, Florence Eshalomi, Nigeria’s Minister of Industry, Trade and Investment, Dr. Olajumoke Omoniyi Oduwole MFR, MD and CEO NSIA, Aminu Umar-Sadiq, British High Commissioner, Dr. Richard Montgomery, and and Vice President Head Climate and Sustainability investments, Tayo Ajayi at the signing ceremony.
The Nigeria Sovereign Investment Authority (NSIA) has signed a Memorandum of Understanding with UK-based Asset Green Ltd, the parent company of Agrium Capital, to develop a $496 million integrated dairy livestock production and processing platform in Nigeria.
The MoU was signed in London on 17 March 2026, ahead of President Bola Tinubu's state visit to the UK. It sets out the framework for collaboration and project-development commitments ahead of a formal shareholders' agreement.
The proposed platform would combine 20,000 hectares of climate-smart, regenerative crop and forage production with a 10,000-cow dairy operation, supported by a processing facility capable of producing fresh milk, milk powder, butter, cream and up to 15,000 metric tonnes of infant formula a year. It is designed to integrate up to 10,000 rural households into the supply chain through out-grower schemes, reducing Nigeria's reliance on imported milk powder.
Once operational, the platform is projected to generate more than $620 million a year and create 2,500 direct and 5,000 indirect jobs nationwide.
NSIA Managing Director and CEO Aminu Umar-Sadiq said the project was designed to build "a modern, competitive dairy sector that reduces import dependence" while creating jobs and long-term value for Nigerians.
Rod Bassett, Director at Asset Green Ltd and Chief Executive Officer of Agrium Capital Ltd, said: “This partnership between NSIA and Asset Green is the business and invesment innovation required to unlock the potential of the agriculture sector in Nigeria, with the development of such a future dairy food system.
“The development of greenfield projects has consistently played a major role in our history, establishing industries or nurturing young businesses that are able to deliver catalytic transformation. This $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 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.”
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