FG Eyes $5.7bn Investment Deal with China

The Federal Government is deepening negotiations to secure up to $5.7bn in strategic investments from China across critical sectors of the economy, the Ministry of Finance said on Monday.

In a statement issued after a meeting in Abuja, the ministry revealed that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, “received a high-level delegation from GCL Group in Abuja, led by Orji Uzor Kalu, as Nigeria moves to secure up to $5.7bn in strategic investments across power, mining and industrial manufacturing.”

According to the statement, the proposed funding is expected to cover energy generation, mineral development, and industrial production. “The proposals include large-scale energy generation, local mineral processing and new factories aimed at boosting jobs, exports and value addition,” the ministry stated.

The engagement, it explained, forms part of broader efforts to expand productive capacity and reposition the economy through carefully targeted foreign direct investments. The statement added that the discussions are “backed by reforms under Bola Ahmed Tinubu” and reflect “rising investor confidence” in Nigeria’s economic direction.

It further noted that the talks align with the country’s wider economic strategy, particularly the transition “from raw exports to domestic production,” with emphasis on “strengthening energy security, industrial capacity and long-term economic growth.”

While the ministry did not provide additional specifics on the proposed projects, it stated that the engagement is consistent with the administration’s industrialisation and economic reform agenda.