The Federal Government says it is advancing negotiations to attract up to $5.7 billion in strategic investments from China to support key sectors of Nigeria’s economy.
This was disclosed by the Ministry of Finance after a meeting in Abuja where the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a high-level delegation from GCL Group led by Orji Uzor Kalu.
According to the ministry, the proposed investments will focus on energy generation, mineral development, and industrial manufacturing, with plans for large-scale power projects, local mineral processing, and the establishment of new factories aimed at boosting employment, exports, and value addition.
The engagement forms part of broader efforts by the administration of Bola Ahmed Tinubu to expand productive capacity and reposition the economy through targeted foreign direct investment.
Officials noted that the discussions align with Nigeria’s economic strategy to shift from reliance on raw material exports to domestic production, while strengthening energy security, industrial capacity, and long-term growth.
Further details of the proposed projects were not disclosed, but the ministry said the talks are consistent with the government’s wider industrialisation and economic reform agenda.
