Nigeria Eyes $5.7bn Chinese Investment to Power Industrial and Mining Growth
The Federal Government of Nigeria is in advanced negotiations to secure a $5.7 billion strategic investment package from China’s GCL Group.
The Ministry of Finance announced on Monday, February 23, 2026, that the deal aims to revitalize critical sectors, including power, mining, and industrial manufacturing, as part of a broader effort to boost domestic production and energy security.
The discussions were held in Abuja, where the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a high-level delegation from GCL Group led by Senator Orji Uzor Kalu and GCL Chairman Zhu Gongshan.
The proposed investments focus on large-scale energy generation, local mineral processing (with a specific focus on the lithium value chain and steel production), and the establishment of new factories.
These initiatives are designed to transition Nigeria from a raw material exporter to a manufacturing hub, creating jobs and increasing the value of local exports.
According to the ministry, the engagement reflects growing international investor confidence spurred by President Bola Ahmed Tinubu’s economic reforms.
The GCL Group, a leader in green and low-carbon technology, has expressed interest in developing greenfield steel and aluminum plants, as well as integrating intelligent energy management systems to stabilize Nigeria’s electricity grid.
These talks align with the “New Niger” agenda and the Federal Government’s target of building a $1 trillion economy by 2036.
While specific project timelines are still being finalized, the Ministry of Finance emphasized that the partnership is a key step in repositioning Nigeria as a competitive industrial player in Africa.
By securing this $5.7 billion commitment, the government seeks to strengthen long-term economic growth and ensure that the country’s natural resources drive national prosperity.
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