Nigeria Opens Negotiation for $5.7bn Chinese Investment Across Power and Mining

Nigeria is stepping up efforts to secure up to $5.7bn in Chinese investment to strengthen its power, mining, and manufacturing sectors, according to the Ministry of Finance.

Finance Minister Wale Edun held talks in Abuja with a high-level delegation from GCL Group, led by former Abia State governor Orji Uzor Kalu, as the government seeks fresh foreign direct investment to support economic reforms.

Officials said the proposed $5.7bn package would target large-scale energy generation, local mineral processing, and new industrial facilities designed to expand employment and export capacity.

“The proposals include large-scale energy generation, local mineral processing and new factories aimed at boosting jobs, exports and value addition,” the ministry said in a statement.

The discussions form part of a broader strategy by the administration of President Bola Ahmed Tinubu to rebuild productive capacity and shift Africa’s largest economy away from dependence on raw commodity exports.

According to the ministry, the engagement reflects “rising investor confidence” in Nigeria’s reform trajectory, particularly policies aimed at improving energy security, deepening industrial output, and sustaining long-term growth.

While detailed project timelines were not disclosed, the government framed the talks as consistent with its push to attract targeted capital into sectors with strong multiplier effects.

For global investors, the potential deal signals Beijing’s continued commercial interest in Nigeria’s industrial expansion, even as Abuja works to reposition itself as a manufacturing and processing hub within Africa’s rapidly evolving economic landscape.