Speaking at an interactive session with journalists in Abuja, Mairawani disclosed that even the Nigerian National Petroleum Company Limited (NNPCL) was yet to be fully aware of the discovery. He added that the Group, through its acquisition arm Frontier Capital, is finalising a $225 million Initial Public Offering (IPO) in the United States, expected to close before the end of the month.
“Our target is to invest $2.7 billion annually into Nigeria,” Mairawani said, noting that President Bola Tinubu’s approval gave MSM the confidence to compete on the global stage. “Without the President’s support, MSM would not have achieved these feats. His endorsement emboldened us to present our business internationally.”
The Chairman also dismissed recent allegations of impropriety against the conglomerate, describing them as baseless, unfounded, and the handiwork of faceless individuals threatened by MSM’s rising profile. “These allegations are completely without merit and aimed at tarnishing the reputation of our Group, which has always stood for transparency, excellence, and integrity,” he stated.
Mairawani recalled that four years ago, MSM was not fully engaged in the oil and gas sector and initially faced scepticism from industry stakeholders. However, he said the company’s fortunes changed after President Tinubu personally approved its entry, a move he described as decisive in achieving the breakthrough.
Beyond oil and gas, the Group plans to expand across multiple sectors, including cement, shipping, and power, with the mission of “bringing excellence to the globe.”
He thanked Nigerians and international partners for their continued support, pledging that MSM would remain committed to national development, job creation, and improved livelihoods. “MSM is here to stay. Allegations will not distract us from delivering excellence across all our operations,” he concluded.
