Nigerian oil and gas mogul and chairman of MSM Group, Muazzam Mairawani, is entering a new sector as he prepares to make a significant impact in the Nigerian cement market with a proposed $600 million cement plant in Kebbi State.
The cement plant aims to rival the cement companies of business magnates Aliko Dangote and Abdul Samad Rabiu. Dangote, who is worth $24.4 billion, owns Dangote Cement while Rabiu is behind BUA with a net worth of $7.2 billion.
The new factory, which will be located in North Western Kebbi, will have a production capacity of 12 million tons as compared to BUA’s 17 million tons and Dangote’s 52 million tons, according to Business Day.
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At at a press briefing recently in Nigeria’s capital city, Abuja, Mairawani said he will build the Kebbi project in clusters, with each valued at around $600 million, Billionaires.Africa reported. He said this investment reflects his company’s interest in manufacturing, which he is optimistic will provide jobs, support the government’s infrastructure moves, and strengthen local production.
Born in Kano, Mairawani started MSM Group in 2011 as a fertilizer supplier before expanding into logistics, cement haulage, shipping, fintech, and travel. He was born into one of Africa’s richest families but was determined to chart his own path through education.
His entrepreneurial journey began with his education in business and technology, including a BSc in Business Information Systems from the University of Middlesex, London, and diploma and advanced diploma in Computing from Informatics Academy, Singapore.
He first became known in Nigeria after franchising Tangaza mobile pay when Nigeria shifted towards a cashless policy.
In recent years, Mairawani has expanded in oil and gas without losing interest in agriculture, cement, and technology. His cement announcement came days after he disclosed plans for a $225 million initial public offering (IPO) in the United States. He explained that MSM Group seeks to list 22.5 million units at $10 each on Nasdaq through its acquisition arm in New York, MSM Frontier Capital. The IPO move also followed the discovery of about $15 billion oil reserves in one of the group’s assets, Billionaires.Africa said.
Mairawani said the IPO will help in investments across oil and gas, power, cement, and shipping. “We are targeting $2.7 billion every year in investments into Nigeria,” he said, while praising Nigeria President Bola Tinubu for helping the group to expand globally. “Without the President’s approval, we would not have achieved these feats. To God be the glory, we didn’t let him down.”
Besides business, Mairawani is a philanthropist who helps the needy without a camera, demonstrating discreet charity, that is, centering more on the act of giving rather than seeking recognition.
And thanks to his contributions to sustainable development and his commitment to enhancing peace and governance in Africa, Mairawani was recently honored with the prestigious SDGs Peace Ambassador’s award by the United Nations International Peace and Governance Council.
As one who values teamwork, the oil and gas mogul doesn’t hesitate to bring together skilled experts to deal with challenges. Per his bio, Mairawani operates by the principles, “once greedy, forever a loser” and “For every successful business there must be great partners.” These inspirational words have indeed helped bring him this far as a young businessman doing wonders while encouraging his fellow young Africans to follow their dreams and make meaningful impacts on their communities.
