Nigeria is advancing plans to attract up to $5.7 billion in Chinese funding aimed at boosting its power, mining, and manufacturing industries, the Ministry of Finance announced.
In Abuja, Finance Minister Wale Edun met with a senior delegation from GCL Group, led by former Abia State governor Orji Uzor Kalu, as the government seeks new foreign direct investment to support ongoing economic reforms.
The ministry stated that the proposed investment package would focus on large-scale energy projects, local mineral processing, and industrial facilities designed to create jobs, boost exports, and add value to domestic production.
“The proposals include large-scale energy generation, local mineral processing, and new factories aimed at boosting jobs, exports, and value addition,” it said.
The talks form part of President Bola Ahmed Tinubu’s broader plan to rebuild Nigeria’s productive capacity and reduce dependence on raw commodity exports.
According to officials, the discussions highlight growing investor confidence in Nigeria’s reform agenda, particularly initiatives targeting energy security, industrial growth, and sustainable long-term development.
Although project timelines were not disclosed, the government emphasized that the engagement aligns with its strategy to direct capital into sectors with high multiplier effects.
The potential deal also signals continued Chinese interest in Nigeria’s industrial expansion as the country positions itself as a manufacturing and processing hub in Africa.