Nigeria has signed a landmark agreement for the establishment of MSM Cement Ltd’s Kebbi Cement Plant, a $3 billion facility designed to enhance the country’s industrial capacity and boost exports under the African Continental Free Trade Agreement (AfCFTA).
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, attended the signing ceremony, emphasizing the project’s role in driving economic stability, job creation, and poverty reduction. The 3-million-tonne-per-annum cement plant is strategically located near Nigeria’s border, positioning it as a key player in regional trade.
According to a statement from the Ministry of Finance, the project is expected to generate 20,000 direct and 25,000 indirect jobs, significantly impacting employment opportunities for youth and women. Kebbi State Governor, Dr. Nasir Idris, described the initiative as a historic milestone, highlighting its transformative effect on the state’s economy.
Other dignitaries present at the event included the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, and the Minister of State for Finance, Dr. Doris Uzoka-Anite.
With the signing completed, groundbreaking and construction are set to commence soon, marking a crucial step in Nigeria’s push for industrial expansion, infrastructure development, and increased regional trade under AfCFTA.
