NSIA signs deal to develop $500m dairy project in Nigeria

The Nigeria Sovereign Investment Authority (NSIA) has formalized a memorandum of understanding with UK-based Asset Green Ltd to establish a $500 million large-scale dairy production platform in Nigeria. This development represents a significant strategic shift in how Africa's largest economy is approaching agricultural industrialization and offers compelling opportunities for European investors positioned within agribusiness supply chains. The partnership framework, structured as an initial MoU with commitments outlining project development costs and a pathway to formal shareholders' agreements, signals the NSIA's confidence in commercial-scale dairy production at a moment when Nigeria's dairy sector remains vastly underdeveloped. Despite having one of Africa's largest cattle populations, Nigeria imports approximately 85% of its dairy products, generating annual import bills exceeding $1 billion. This structural inefficiency creates both immediate market entry opportunities and long-term value capture potential. For European investors, the NSIA's involvement is particularly noteworthy. The sovereign wealth fund's participation de-risks project execution in ways that private capital cannot independently achieve. The NSIA controls approximately $4 billion in assets and has demonstrated a track record of shepherding large-scale infrastructure projects through Nigeria's complex regulatory environment. This partnership therefore provides a governance layer that foreign investors typically struggle to navigate independently. Asset Green Ltd's selection