FG Moves to Secure $5.7bn China Investments to Boost Power, Mining and Manufacturing
Nigeria’s Federal Government is making a major push to attract up to $5.7 billion in new Chinese investments to strengthen critical sectors of the economy. The proposed capital inflow, described as one of the largest prospective foreign investments in recent years, targets power generation, mining, and industrial manufacturing — industries seen as vital to Nigeria’s long-term economic transformation.
The development follows a high-level meeting in Abuja between the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and a delegation from GCL Group, led by Orji Uzor Kalu. According to the Federal Ministry of Finance, discussions focused on unlocking large-scale investments that will expand domestic production and reduce Nigeria’s dependence on imported goods.
The Ministry said the proposed projects include large-scale energy generation, local mineral processing, and the establishment of new manufacturing plants across the country. Officials noted that the investments align with ongoing economic reforms under Bola Ahmed Tinubu, which aim to reposition Nigeria from a raw commodity exporter to a value-driven industrial economy.
Beyond the numbers, the human impact could be significant. Thousands of direct and indirect jobs are expected to be created if the projects materialise. Improved power supply could ease operational costs for small businesses, while expanded mining and manufacturing capacity may open up new opportunities for local entrepreneurs and skilled workers across the country.
The planned $5.7bn China investments in Nigeria also signal growing investor confidence in the country’s reform agenda. In recent years, Chinese firms have expanded their footprint in Nigeria’s lithium processing, steel production, agriculture, and renewable energy sectors. Analysts say securing these new commitments could position Nigeria as a regional hub for industrial manufacturing and mineral processing, strengthening exports and driving sustainable economic growth.
source: nairametrics