Kebbi, MSM Group Sign $2.4 Billion Cement Plant Deal

Yahaya Nasir

6 days ago

In a groundbreaking move set to transform Nigeria’s industrial landscape, the Kebbi State Government and MSM Group have signed a $2.4 billion agreement to establish a three-million-ton-per-annum cement plant. The project, expected to be completed within two years, will create over 45,000 direct and indirect jobs, boosting employment and economic growth in the region.

Contents

1 A Major Win for Kebbi State
2 Boosting Nigeria’s Economy and Export Market
3 MSM Group’s Multi-Phase Expansion Plan
4 Key Benefits of the Cement Plant
5 Share this:

A Major Win for Kebbi State

The signing ceremony, held in Abuja, brought together key officials from the Kebbi State Government, the Federal Executive Council, and MSM Group. The cement plant is expected to position Kebbi as a leading hub for cement production and exports under the African Continental Free Trade Agreement (AfCFTA).

Kebbi State Governor, Dr. Nasiru Idris, described the project as a major breakthrough for the state.

“This investment is a privilege for Kebbi State. Many other locations sought this opportunity, but today, we celebrate a major win for our people. You have added value to us by reducing unemployment among our youth,” he said.

The governor assured MSM Group of the state’s full support, pledging a business-friendly environment to ensure the project’s success.

Boosting Nigeria’s Economy and Export Market

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, emphasized the plant’s strategic importance for exports and industrialization.

“Given Kebbi’s location near Nigeria’s borders, this plant will be well-positioned to export cement across Africa under AfCFTA,” he noted.

He also highlighted that the project aligns with President Bola Ahmed Tinubu’s economic policies focused on private sector investment, productivity, and poverty reduction.

Similarly, Minister for Budget and Economic Planning, Senator Abubakar Atiku Bagudu, who is also the former governor of Kebbi, praised the project as a direct result of investor confidence in Nigeria’s economic reforms.

“This investment wouldn’t have been possible without the strong economic policies of President Tinubu. It reflects the success of the Renewed Hope Agenda, which encourages investment and long-term business sustainability,” Bagudu stated.

MSM Group’s Multi-Phase Expansion Plan

Alhaji Muazzam Mairawani, Chairman of MSM Group, expressed appreciation for Kebbi State’s support and described the agreement as the start of a long-term partnership.

“For every successful business, there must be great partners. We have seen that in Governor Idris and the people of Kebbi State,” he said.

He revealed that the cement plant would be developed in four phases, each attracting over $600 million in investment.

“From now to production, our timeframe is a maximum of two years. After Kebbi, we plan to expand into other states,” he added.

Key Benefits of the Cement Plant

The project is expected to deliver:

Massive job creation with over 45,000 direct and indirect jobs
Increased local cement production, reducing reliance on imports
Stronger infrastructure development, supporting construction, roads, and industrial growth
Boost in foreign exchange earnings through cement exports under AfCFTA
Increased private sector investment in Kebbi and beyond