MSM Group targets multi-billion-dollar cement investment to rival Dangote, others

MSM Group of Companies

Nigerian conglomerate MSM Group is set to diversify its operations with multi-billion-dollar investments in cement production and power generation, signalling its ambition to become a significant player in Africa’s energy and construction industries.

Currently a major stakeholder in Nigeria’s oil and gas sector, MSM Group plans to challenge established industry giants such as Dangote Cement, Lafarge Africa, BUA Cement and Mangal Cement. The company is also eyeing the acquisition of the Geregu Power Plant, a strategic asset owned by billionaire businessman Femi Otedola, as part of its expansion into the power sector.

As part of its industrial growth strategy, MSM Group recently signed a $2.4 billion agreement with the Kebbi State Government to develop a three-million-metric-ton-per-annum cement plant. The project, expected to generate over 45,000 direct and indirect jobs, represents one of the largest industrial investments in Northern Nigeria in recent years.

The signing ceremony, held in Abuja, was attended by top officials from both the federal and Kebbi State governments. The project aligns with Nigeria’s broader industrialisation goals and is anticipated to stimulate economic activity across the region.

MSM Group Chairman, Alhaji Muazzam Mairawani, revealed that the cement plant would be developed in four phases, with each phase attracting over $600 million in investments. He projected a maximum timeline of two years for the plant to become operational, with plans for further expansions in states like Edo and Gombe.

“From now to production, our timeframe is a maximum of two years, ” Mairawani said.

Industry analysts believe MSM Group’s expansion is bolstered by President Bola Tinubu’s economic reforms. The company’s entry into the cement market could significantly alter the competitive landscape, offering an alternative to the dominance of existing players.

“Yes, we plan to expand our operation.  That’s all that can be said for now,” a company official said on condition of anonymity. “Our goal is to expand operations strategically and strengthen our position in the construction and energy sectors.”

To support its growing operations, MSM Group has launched an extensive recruitment drive to fill roles across its expanding portfolio. The company is also active in pipeline metering, a process critical for accurately measuring fluid flow in oil, gas, and water pipelines.