The Chairman of MSM Group, Muazzam Mairawani, has attributed the conglomerate’s groundbreaking achievements in Nigeria’s oil and gas sector to the strategic investment drive championed by President Bola Tinubu’s administration, a partnership he says has yielded over $15 billion in oil reserves in a single asset.
Speaking in Abuja during an interactive session with journalists, Mairawani highlighted the critical role of presidential support as the bedrock upon which MSM Group was emboldened to expand, attract fresh capital, and position itself on the global stage.
“Without the president’s backing, MSM would not have attained these heights. It is through his approval and foresight that we found the courage to present our business globally,” Mairawani stated.
Reflecting on MSM’s journey, he recalled that four years prior, the group was only nascent in oil and gas operations. Upon proposing innovative ideas to the Nigerian National Petroleum Company Limited (NNPCL) aimed at enhancing production, MSM faced scepticism.
However, it was Tinubu’s belief in their vision that galvanised the company, culminating in the discovery of a $15 billion oil reserve in one asset alone.
This discovery represents a substantial infusion of value into Nigeria’s oil sector, reinforcing confidence in MSM Group’s capabilities. Beyond exploration and production, MSM has demonstrated an ambitious expansion roadmap.
Through its subsidiary, Frontier Capital, MSM Group is set to finalise a $225 million Initial Public Offering in the United States by August 2025. The IPO, aimed at raising fresh capital, underscores MSM’s aspiration to attract international investment by positioning itself as a prominent player in Africa’s oil, gas, and industrial sectors.
Mairawani revealed MSM’s strategic objective to channel approximately $2.7 billion annually into investments within Nigeria. These plans span multiple sectors, including oil and gas, cement, shipping, and power, reflecting the conglomerate’s commitment to “bringing excellence to the globe”, a mission encapsulating both operational excellence and sustainable growth.
Complementing its oil and gas ventures, 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. This project, regarded as one of the largest industrial commitments in northern Nigeria, is projected to generate more than 45,000 direct and indirect jobs.
The development of the cement plant will proceed in four phases, each attracting investments exceeding $600 million, with production anticipated to commence within two years. MSM’s leadership further disclosed plans to extend cement operations to Edo and Gombe States, positioning the group as a rising competitor to established industry giants like Dangote, Lafarge, and BUA Cement.
Moreover, MSM Group has expressed interest in acquiring the Geregu Power Plant—a pivotal asset in Nigeria’s power generation landscape—aligning with its broader vision of deepening involvement across critical infrastructure sectors. These progressive strides reflect the confidence instilled by favourable economic reforms and investor-friendly policies introduced by President Tinubu’s administration, which have revitalised Nigeria’s industrial prospects.
Addressing recent allegations of impropriety directed at MSM Group, Muazzam Mairawani categorically dismissed them as baseless, unfounded, and orchestrated attempts by faceless opponents seeking to undermine the company’s reputation. He reaffirmed MSM’s unwavering commitment to transparency and excellence, values he asserted have been the cornerstone of the group’s long-standing success across diversified sectors.
“The allegations are completely without merit and clearly intended to tarnish a company that has always conducted its business with integrity and transparency,” Mairawani affirmed. He disclosed that the relevant regulatory and security agencies have already been engaged to identify and confront those behind the defamatory claims.
MSM Group’s trajectory from a fledgling player to a multi-sector conglomerate is illustrative of Nigeria’s evolving economic landscape, where visionary leadership, strategic partnerships, and regulatory support collectively create fertile ground for growth.
MSM pledges to contribute meaningfully to national development imperatives, focusing on job creation, technological advancement, and improved livelihoods for Nigerians.
