▪︎Aliko Dangote, the largest cement producer in the domestic market.

Nigeria’s cement industry is set to increase its output to 78 million metric tonnes per annum (Mt/yr) with the entry of two new players.

Ohibaba.com exclusively reports that MSM Cement and Resident Cement are poised to add a combined capacity of 13 Mt/yr, with MSM Cement planning a 3 Mt/yr plant in Kebbi State and Resident Cement developing a larger 10 Mt/yr facility in Bauchi State.

The Kebbi project marks a new initiative, supported by a memorandum of understanding (MOU) valued at US$2.4 billion between the state government and MSM Cement.

The Chairman of MSM Group, Alhaji Muazzam Mairawani, indicated that the plant will be built in four phases, each costing US$600 million, with the first phase expected to commence production by early 2027.

Originally established in the fertilizer sector, MSM Group has diversified into oil and gas, shipping, and agriculture. In contrast, the Bauchi project is already further advanced, with an MOU worth US$1.5 billion signed in mid-2024.

It also includes plans for a 100MW power plant, a dam, and various amenities to benefit the local community.

The state reportedly holds a 10 percent  stake in the project, which is partly backed by Sinoma Nigeria Company.

Currently, the Nigerian cement market is led by major players including Dangote Cement, Lafarge Africa, and BUA Cement, which collectively produce 60 Mt/yr.

Dangote Cement, the largest producer, has a capacity of 35.25 Mt/yr across its four plants, while BUA Cement has recently expanded to reach 20 Mt/yr.

Lafarge Africa adds another 10.5 Mt/yr to the total production capacity in the country. With the newcomers, Nigeria’s total cement capacity is expected to exceed 78 Mt/yr, solidifying its position in the industry.

MTN Nigeria is relocating its corporate headquarters from Falomo- Ikoyi, to the Eko Atlantic City.

MTN Nigeria CEO, Karl Toriola, disclosed this during the MyLagosApp launch event in Lagos, yesterday.  Toriola said that the company’s new headquarters will be situated in Eko Atlantic, four years after it  announced plans to build a new head office. 

MTN will be the first telecom operator to build in the coastal city, signaling confidence in its potential as one of the premier business hubs in Nigeria. “Beyond connectivity, we are committed to making long-term investments in Lagos.

As part of this commitment, we have acquired a piece of land in Eko Atlantic City, and we will commence construction once we have gotten the equipment,” said  Toriola.

He added that MTN Nigeria is also constructing West Africa’s largest Tier 4 data center in Lagos.

The facility will house 1,500 racks and operate as a carrier-neutral hub, allowing multiple Internet Service Providers (ISPs) and cloud service providers to interconnect.

Toriola said that the data center will not be situated within Eko Atlantic but on the Lagos mainland. 

“With seven degrees of connectivity, this facility will be the most sophisticated data hub in the region, further strengthening Nigeria’s position as a leader in digital transformation,” Toriola said.

▪︎Dr Jumoke Oduwole, Minister of Industry, Trade and Investment.

The Nigerian Economic Summit Group (NESG) has stressed the need for Nigeria to divert its trade pattern towards countries that are unaffected by the U.S. tariffs.

The NESG made the call in its latest Foreign Trade Alert: 2024Q4 & Full Year 2024.

The report highlighted Nigeria’s vulnerability to global trade disruptions, particularly in its import-dependent industrial sector.

“The trade war between the U.S. and China needs to be hedged against.  This would reduce tariff-induced increases in import bills, considering that the country’s import-dependent non-oil industrial sector is highly vulnerable,” the report noted.

The United States imposed a 10% tariff on Chinese imports in February 2025, with plans to increase it by another 10% in April.

In retaliation, China announced additional tariffs of 10-15% on certain U.S. imports starting March 10, 2025, along with a series of export restrictions targeting designated U.S. entities.

These measures are expected to disrupt global supply chains, slow world trade growth, and drive up the prices of globally traded commodities.

Given Nigeria’s heavy reliance on imported manufactured goods and raw materials, NESG warns that the country could face significant economic challenges if these trade tensions escalate further.

China remained Nigeria’s largest trading partner in Q4 2024, followed by India, Belgium, the U.S., and France.

The most imported commodities during the period included refined petroleum products, sugar cane, and spare parts.

However, Nigeria’s reliance on imports, particularly from China, makes it susceptible to price fluctuations and supply chain disruptions stemming from the U.S.-China trade conflict.