The Federal Government is seeking to attract up to $5.7 billion in potential Chinese investments to strengthen key sectors of Nigeria’s economy, such as power generation, mining, and industrial manufacturing.
This initiative comes after a meeting in Abuja between the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and a delegation from GCL Group led by Orji Uzor Kalu.
This was disclosed in a statement by the Ministry of Finance on its official X handle on Monday.
The Ministry stated that the proposed investments are intended to boost domestic production, generate employment, and increase Nigeria’s export capacity.
It added that the engagement supports the ongoing economic reforms spearheaded by President Bola Ahmed Tinubu.
“The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a high-level delegation from GCL Group in Abuja, led by Senator Orji Uzor Kalu, as Nigeria moves to secure up to $5.7bn in strategic investments across power, mining and industrial manufacturing.
“The proposals include large-scale energy generation, local mineral processing and new factories aimed at boosting jobs, exports and value addition,” the statement stated.
The statement added that the investments are “supported by reforms under President Bola Ahmed Tinubu and signal growing investor confidence.”
The initiative aligns with Nigeria’s strategic move from raw material exports to domestic production and seeks to strengthen energy security, industrial capacity, and long-term economic growth.
According to the Ministry, the projects are expected to stimulate private sector participation and advance sustainable industrial development nationwide.
The anticipated capital inflow is expected to strengthen Nigeria’s industrial base and lessen dependence on imported finished products.
GCL Group’s plans include large-scale energy generation, local mineral processing, and the development of new manufacturing facilities. The initiative is also projected to create jobs and boost value addition within the domestic economy.
The proposed $5.7 billion capital injection ranks among the largest prospective foreign investments in recent years.
The projects are anticipated to position Nigeria as a regional hub for manufacturing and mineral processing.
