Edun meets GCL Group delegation as Nigeria intensifies drive for large-scale industrial capital…
The Federal Government is seeking to secure up to $5.7 billion in prospective investments from China to strengthen key sectors of Nigeria’s economy, including power generation, mining and industrial manufacturing.
The move 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 Senator Orji Uzor Kalu.
The Federal Ministry of Finance disclosed details of the engagement via its official X handle on Monday, describing the discussions as part of broader efforts to attract strategic foreign capital into priority sectors.
Power, minerals and factories at the centre
According to the ministry, the proposed investments span large-scale energy generation projects, domestic mineral processing facilities and new industrial manufacturing plants aimed at boosting employment and export capacity.
“The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a high-level delegation from GCL Group in Abuja, led by Senator Orji Uzor Kalu, as Nigeria moves to secure up to $5.7bn in strategic investments across power, mining and industrial manufacturing,” the statement read.
It added that the proposals are designed to enhance local value addition, expand industrial output and reduce reliance on imported finished goods.
The ministry noted that the engagement aligns with ongoing economic reforms under President Bola Ahmed Tinubu and reflects what it described as growing investor confidence in Nigeria’s policy direction.
Backed by reform momentum
Officials said the planned projects support Nigeria’s strategic pivot away from raw material exports toward domestic production and processing.
By targeting sectors such as power and mining, the government aims to strengthen energy security, deepen industrial capacity and drive long-term economic growth.
The ministry added that the projects are expected to catalyse broader private sector participation while promoting sustainable industrial development nationwide.
Part of a broader Chinese investment wave
The proposed $5.7 billion capital inflow would rank among the largest prospective foreign investment commitments in recent years.
Chinese firms have steadily expanded their footprint in Nigeria’s industrial and extractive sectors. Over the past two years, more than $1.3 billion has reportedly flowed into Nigeria’s lithium processing industry from Chinese investors.
In addition, a consortium led by China Overseas Engineering Group (COVEC) recently inspected sites in Katsina State for agricultural and renewable energy projects valued at $720 million.
Last October, Stellar Steel Company Limited, a subsidiary of China’s Galaxy Group and RSIN Group announced plans to establish a $450 million steel plant in Ogun State.
Strategic positioning
If finalised, the GCL-backed investments are expected to strengthen Nigeria’s position as a regional hub for mineral processing and industrial manufacturing, while supporting job creation and export diversification.
The discussions signal Abuja’s intensified push to leverage foreign direct investment as a catalyst for structural transformation particularly in sectors critical to industrial self-sufficiency and economic resilience.
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