Kebbi State has signed a $2.4 billion agreement with MSM Group to build a cement plant that will produce 3 million tonnes of cement per year. The project is expected to create 45,000 jobs and utilize advanced technology, aligning with national policies on industrialization. It reflects the growing demand in Nigeria’s cement industry, which already hosts major producers.
A preliminary agreement has been signed between Kebbi State and the Nigerian conglomerate MSM for the establishment of a cement factory projected to produce 3 million tonnes of cement annually, representing approximately 5% of Nigeria’s total production. The planned $2.4 billion facility will be situated in the northwest region of the country.
Governor Nasir Idris emphasized the project’s significance, stating it is a “major breakthrough for economic development and a lifeline for thousands of unemployed youth and women in the state.” The development is anticipated to generate around 45,000 direct and indirect jobs, enhancing local employment opportunities.
MSM Group, led by founder and chair Alhaji Mu’azzam Mairawani, will implement advanced technology in the factory’s operations. Finance Minister Olawale Edun noted the project is in line with President Bola Ahmed Tinubu’s vision for attracting private investments aimed at fostering industrialization in Nigeria.
Nigeria’s cement industry is robust, featuring major players such as Dangote, BUA, and Lafarge Nigeria. The increasing demand for cement in the country presents opportunities for new entrants like MSM, marking a shift towards greater industrial capabilities.
The establishment of a $2.4 billion cement plant in Kebbi State by MSM Group signifies a crucial advancement for local economic development and employment. With an expected output of 3 million tonnes annually, the project aims to create substantial job opportunities, aligning with national efforts to encourage private sector investments in industrialization. The Nigerian cement market’s growth potential allows for the participation of newer entities alongside established leaders.
Original Source: www.globalconstructionreview.com
