The Federal Government has intensified discussions to attract up to $5.7bn in strategic investments from China, targeting key sectors of the economy, according to the Ministry of Finance.
In a statement released after a meeting in Abuja, the ministry disclosed that the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, hosted a high-level delegation from GCL Group.
The delegation was led by former Abia State governor, Orji Uzor Kalu, as part of ongoing efforts to secure large-scale investments across power generation, mining, and industrial manufacturing.
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The proposed funding is expected to support expansive energy projects, local mineral processing, and the establishment of new manufacturing plants aimed at increasing employment, boosting exports, and enhancing value addition within the country.
The ministry noted that the engagement aligns with broader economic reforms under President Bola Ahmed Tinubu and reflects growing investor confidence in Nigeria’s economic direction.
It added that the negotiations form part of a strategy to strengthen productive capacity and reposition the economy through targeted foreign direct investment.
According to the statement, the discussions are consistent with the administration’s push to shift the economy from reliance on raw material exports to increased domestic production, with a focus on improving energy security, expanding industrial capacity, and driving sustainable long-term growth.
While further details of the proposed projects were not disclosed, the ministry emphasised that the talks are in line with the government’s broader industrialisation and economic reform agenda.
