The Federal Government has opened discussions with Chinese investors on a proposed 5.7 billion dollar investment aimed at strengthening Nigeria’s power, mining and manufacturing sectors.
The talks took place during a meeting between the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and a delegation from China’s GCL Group. The delegation was led by Orji Uzor Kalu.
According to government officials, the proposed investment is expected to support large scale power generation projects, expand mineral processing within the country and encourage the establishment of new manufacturing facilities. These initiatives are projected to create jobs, improve local value addition and reduce reliance on imported goods.
The government said the engagement aligns with its broader economic strategy to attract productive foreign direct investment and accelerate industrial growth. Officials noted that strengthening domestic production remains a priority as Nigeria seeks to diversify its economy and improve export competitiveness.
The discussions are also linked to ongoing economic reforms under President Bola Ahmed Tinubu, which the government says are designed to restore investor confidence and support sustainable economic development.
While no specific timelines have been announced, authorities said negotiations are ongoing and further engagements are expected as the government works to finalise investment commitments that will deliver long term economic benefits.
