The Chairman, MSM Group, Muazzam Mairawani, has said the investments drive of President Bola Tinubu’s administration being championed by the organisation in the oil and gas industry has yielded over $15 billion.
Mr Mairawani, who made the disclosure during an interactive session with journalists in Abuja, credited Mr Tinubu’s foresight for the group’s breakthrough in the oil and gas sector.
He said that the presidential backing emboldened MSM to expand and attract fresh investments, leading to the discovery of oil reserves valued at about $15 billion in one asset alone.
He added, “So, without the president’s support, MSM wouldn’t have achieved all these. It is based on presidential approval. We thank the president all the time and that is why we have the courage to present our business on the global stage. Four years ago, I was not fully operating in oil and gas. When I approached the NNPCL with ideas to enhance production, many did not believe in us. But the moment I met Mr President; he believed in us. To God be the glory, we didn’t let him down.’’
He noted that MSM Group, through its Frontier Capital acquisition, was at the final stages of closing a $225 million Initial Public Offering (IPO) in the United States of America, expected to be sealed this month.
Mr Mairawani added, “Our target is to do $2.7 billion every year in investments into Nigeria. Without the President’s support, MSM would not have achieved these feats. His approval gave us the courage to present our business on the global stage.”
He reiterated that MSM Group remained focused on expanding opportunities across oil and gas, cement, shipping, and power, with the mission of “Bringing Excellence to the Globe.”
Mr Mairawani thanked Nigerians and international partners for their support, assuring that the conglomerate would continue to contribute to national development, job creation, and improved livelihoods.
He stated, “MSM is here to stay. Allegations will not distract us from delivering excellence across all our business operations.’’
Mr Mairawani dismissed recent allegations of impropriety against the conglomerate, describing them as baseless, unfounded, and orchestrated attempts to tarnish the reputation of a company built on transparency and excellence.
The chairman insisted that the allegations were the handiwork of faceless individuals threatened by the group’s rising profile.
He said, “I want to state clearly and categorically that the allegations are completely unfounded, baseless, and without any merit. They are attempts to tarnish the reputation of our group, which has, over the years, stood for excellence, transparency, and integrity in all its operations.’’
Mr Mairawani stated that the relevant authorities had already been informed, and they were working to unmask those behind the claims.
(NAN)
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