en.Wedoany.com Report on Mar 21st, The Nigeria Sovereign Investment Authority (NSIA) and Asset Green Limited recently signed a $496 million Memorandum of Understanding in London to jointly develop an integrated dairy production and processing platform.

The project plans to cover 20,000 hectares of land for climate-smart crop and feed cultivation and operate a dairy hub with 10,000 lactating cows. Supporting modern processing facilities are expected to annually produce fresh milk, butter, cream, milk powder, and up to 15,000 metric tons of infant formula.

Upon full operation, the project is projected to generate over $620 million in annual revenue, creating approximately 2,500 direct jobs and 5,000 indirect positions. Furthermore, through an outgrower scheme, up to 10,000 rural households will be integrated into the supply chain.

Aminu Umar-Sadiq, Managing Director of NSIA, stated, "This is a critical investment in Nigeria's food and nutritional security. It integrates climate-smart agriculture, advanced processing technology, and inclusive rural participation to build a competitive dairy sector."

Rod Bassett, Director of Asset Green Limited and CEO of Agrium Capital Limited, noted, "This project will unlock Nigeria's agricultural potential through innovation and infrastructure development, while reducing dairy imports and promoting environmental sustainability."

Jonny Baxter, Deputy British High Commissioner to Nigeria, commented, "This partnership exemplifies the ongoing economic collaboration between the UK and Nigeria. Early British support helped establish and strengthen the governance of NSIA."

The agreement is seen as a significant step for Nigeria in expanding domestic agricultural production, modernizing the agricultural sector, and attracting large-scale private investment into the agricultural value chain.