By Ayo Kehinde
The Federal Government of Nigeria is deepening negotiations with Chinese investors to secure up to $5.7 billion in strategic foreign capital as part of efforts to drive industrial growth, strengthen energy capacity and expand domestic production.
In a statement issued after a high-level meeting in Abuja, the Federal Ministry of Finance and Coordinating Ministry of the Economy said its Minister, Wale Edun, received a delegation from GCL Group, led by Senator Orji Uzor Kalu, to advance discussions on the proposed investment package.
According to the ministry, the $5.7 billion investment proposal will focus on power generation, mineral development and industrial manufacturing, especially projects that can stimulate jobs, boost export capacity and add value to local resources.
“The proposals include large-scale energy generation, local mineral processing and new factories aimed at boosting jobs, exports and value addition”, the statement said, noting the engagement aligns with Nigeria’s economic priorities.
The federal government stressed that the talks form part of a broader strategy to attract productive foreign direct investments, repositioning the economy from reliance on raw exports towards value-added production and manufacturing.
Officials also linked the ongoing negotiations to a series of economic reforms under President Bola Ahmed Tinubu, which they said have improved investor confidence in the Nigerian economy.
Beyond investment figures, the discussions reflect a push to boost energy security and reduce infrastructure bottlenecks, especially in the power sector a chronic constraint on industrial expansion.
While the ministry did not provide full technical details of specific projects under the proposed deal, analysts say such investment packages if concluded could be among the largest in recent years and potentially accelerate Nigeria’s industrial base, create jobs and enhance export competitiveness.
Further updates on the negotiations and associated project agreements are expected as talks progress with the Chinese partners.
