MSM targets multi-billion dollar investment in cement, rivals Dangote, Lafarge, Bua, others

… eyes Geregu Power Plant in Energy Push

Nigerian conglomerate MSM Group is ramping up its footprint in the country’s critical industrial sectors, unveiling multi-billion dollar investments in the cement industry as part of an ambitious expansion strategy.

The move is designed to position the company as a formidable competitor to established industry giants such as Dangote, Lafarge, BUA, and Mangal Cement. MSM Group’s latest investments signal a broader strategy to cement its status as a key player not only in Nigeria but across Africa’s energy and construction sectors.

In addition to its focus on cement, the company is pursuing strategic initiatives aimed at reshaping its role within the continent’s rapidly evolving industrial landscape. According to industry analysts, the group’s expansion could significantly alter the competitive dynamics of both the energy and construction markets in the region.

In a major move to strengthen its footprint in the cement industry, MSM Group recently signed a $2.4 billion agreement with the Kebbi State Government for the development of a three-million-metric-ton-per-annum cement plant. The project, which is expected to generate over 45,000 direct and indirect jobs, marks one of the largest industrial commitments in the region in recent years.

The formal signing ceremony was held in Abuja, attended by top officials from both the Kebbi State and Federal Governments, as well as key executives from MSM Group. The project aligns with Nigeria’s broader industrialisation drive and is set to stimulate economic activity in northern Nigeria.

Chairman of MSM Group, Alhaji Muazzam Mairawani, has outlined the company’s ambitious expansion plans, revealing that the new cement plant will be developed in four phases. Each phase, or cluster, is expected to attract investment exceeding $600 million, marking a significant capital injection into Nigeria’s industrial economy.

“From now to production, our timeframe is a maximum of two years,” he said, adding that MSM plans to expand to other states after Kebbi.

As part of its cement expansion strategy, the company is also scouting greenfield opportunities in Edo and Gombe state, which will strengthen its bid to compete favourably with established industry giants such as Dangote Cement, BUA Cement, and Lafarge Africa.

MSM Group has rapidly evolved into a multi-sectoral conglomerate with interests spanning cement, oil and gas, agriculture, and infrastructure.

In a significant diversification move, MSM Group has entered the race to acquire the Geregu Power Plant, one of Nigeria’s most strategic power assets. This bid shows the company’s growing interest in the power and energy sector, as it seeks to capitalise on Nigeria’s ongoing power sector reforms and investor-friendly government policies.

At the helm of MSM Group’s aggressive expansion strategy is Chief Operating Officer Babatope Adedara, an internal audit expert previously with PNC Financial Services, and Chief Financial Officer Tosin Okojie, formerly CFO at Niche. Together, they are leading a company-wide recruitment drive to support the firm’s growing operations and fill a wave of new vacancies across its portfolio.

With these moves, MSM Group is not only reinforcing its presence in Nigeria’s industrial landscape but also positioning itself as a key player in Africa’s energy and manufacturing future.