Kebbi State Government has signed a Memorandum of Understanding (MOU) with MSM Cement Ltd that will enable the establishment of the MSM Kebbi State Cement Factory that will possess an impressive capacity of 3 million tonnes per year.
According to the information that was revealed by NAN, this agreement was signed on Friday by Nasir Idris, the governor of Kebbi State, and the chairman of MSM Cement Ltd. This signing was done in Abuja at the governor’s lodge.
MSM Kebbi State Cement Project Factsheet
Developers:
- The Kebbi State Government has partnered with MSM Group to establish the cement plant.
Production Capacity:
- The plant is projected to have a production capacity of three million tons per annum.
Investment Value:
- The project is valued at $2.4 billion.
Job Creation:
- It’s expected to create approximately 45,000 direct and indirect jobs. Reports also showed numbers of 20,000 direct jobs and 25,000 indirect jobs.
Strategic Location:
- The plant’s location near Nigeria’s border is considered strategic for exports under the African Continental Free Trade Agreement (AfCFTA).
Economic Impact:
- The project is anticipated to significantly boost industrialization, job creation, and economic growth in Kebbi State and Nigeria.
- It aligns with the Nigerian government’s efforts to attract private sector investment and promote economic development.
Technology:
- The plant will utilize “cutting-edge technology” to enhance production and efficiency.
Also read: Nigeria’s Warri Refinery Operations Restart After $898 Million Revamp
Speaking at the event of the signing ceremony, Idris gave affirmation that his administration is very committed to ensuring that there will be a conducive environment that will be suitable for the factory to conduct its operations and also thrive.
Significance of the Project
Furthermore, he described the MSM Kebbi State Cement Factory project as a game changer for the general economy of Kebbi State by highlighting its potential to generate thousands of employment opportunities for the people in the region.
Additionally, speaking at the event was the minister of economy and emphasized on the strategic location of the upcoming cement production facility, near the border of Nigeria. He positioned the plant for export under the African Continental Free Trade Agreement (AfCFTA).
The minister also added by saying that this upcoming project is in line with the commitment of the president, Policy, and strategy for stabilising the economy. This will be achieved by enabling the private sector investment to drive productivity, expand the general economy, and generate employment.
Also read: Nigeria’s $3.3 Billion Brass Industrial Park and Methanol Complex
