Nigeria is moving forward with negotiations to secure up to $5.7 billion in Chinese investment aimed at strengthening its power, mining, and manufacturing sectors, as reported by Business Insider Africa.
The proposed funding is expected to support large-scale energy generation, local mineral processing, and the development of new industrial facilities, boosting employment, exports, and value addition across the economy.
Finance Minister Wale Edun led discussions in Abuja with a high-level delegation from GCL Group, headed by former Abia State governor Orji Uzor Kalu. The talks form part of the government’s broader strategy to attract foreign direct investment into sectors with strong multiplier effects, supporting Nigeria’s ongoing economic reforms and long-term growth objectives.
Officials highlighted that the proposed investment reflects “rising investor confidence” in Nigeria’s reform trajectory, particularly in policies aimed at improving energy security, expanding industrial output, and diversifying away from reliance on raw commodity exports.
While detailed timelines and specific project plans were not disclosed, government sources said the discussions are consistent with President Bola Ahmed Tinubu’s administration’s vision to rebuild Nigeria’s productive capacity, strengthen infrastructure, and position the country as a manufacturing and processing hub within Africa.
Analysts note that the potential deal underscores Beijing’s continued commercial interest in Nigeria’s industrial expansion and signals opportunities for collaboration in energy, minerals, and industrial manufacturing.
The investment, if finalized, is expected to enhance Nigeria’s export potential, create thousands of jobs, and provide a significant boost to the country’s industrial base.
