By Governor Bala Mohammed of Bauchi State has expressed excitement over the official kickoff of drilling operations at the site of a $1.5 billion cement factory in Gwana village, Alkaleri Local Government Area.
Speaking at the project site on Tuesday, the governor highlighted that the investment is unique because the company, Resident Cement Factory Ltd, has voluntarily offered 10 percent equity to local communities and landowners in the area.
“For all the communities at the proposed site of Resident Cement Factory, 10 percent equity of the total investment of $1.5 billion has been allotted to them,” Governor Bala stated, describing the move as rare in Nigeria’s investment landscape.
He further explained that Bauchi State itself will also hold 10 percent ownership in the project, giving both the state and host communities a direct stake in the factory’s success.
The plant, which is expected to produce 10 million metric tons of cement annually, is seen as a major boost to Bauchi’s economy, creating jobs and driving infrastructure development across the state.
Governor Bala called on community leaders and residents to cooperate fully with the investors, emphasizing that the project will bring long-term benefits, including employment, business opportunities, and improved infrastructure to the region.
