Nigerian Conglomerate Plans $2.4bn Cement Plant in Kebbi State

Wedoany.com Report-Mar 11, Nigeria’s Kebbi State has signed a preliminary agreement with Nigerian conglomerate MSM to build a factory capable of producing 3 million tonnes of cement a year, equal to about 5% of the country’s annual production.

The plant will produce 3 million tonnes a year, equal to about 5% of Nigeria’s annual production

According to local media, the $2.4bn plant will be located in the northwest of the country.

Speaking at the signing, Kebbi governor Nasir Idris described the project as “a major breakthrough for economic development and a lifeline for thousands of unemployed youth and women in the state”.

Idris added that he expected the plant to create up to 45,000 direct and indirect jobs.

MSM Group is a Nigerian conglomerate with operations in fields from phone making and chemicals, to auto manufacturing and energy.

Founder and chair Alhaji Mu’azzam Mairawani said the factory would use “cutting-edge technology”.

Also present at the ceremony was finance minister Olawale Edun, who said the initiative aligned with President Bola Ahmed Tinubu’s policy of attracting private investment for industrialisation.

The cement industry has long been a strongpoint of the Nigerian economy, which is home to three of the largest producers on the continent – Dangote, BUA and Lafarge Nigeria.

But growth in demand is creating space for new players like MSM.