Nigeria targets $5.7b investments in power, mining, manufacturing
Nigeria has moved to attract major foreign investment as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a delegation from GCL Group in Abuja to
Nigeria has moved to attract major foreign investment as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a delegation from GCL Group in Abuja to discuss projects valued at up to $5.7 billion across key sectors of the economy.
The delegation was led by Orji Uzor Kalu, according to a statement released Monday by the Finance Ministry on its X handle.
The ministry said the proposed investments would focus on large-scale power generation, local processing of mineral resources and the establishment of new manufacturing plants.
The statement added that the planned projects are designed to expand job opportunities, increase exports and encourage value addition within Nigeria rather than exporting raw materials.
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Officials explained that the engagement reflects growing interest from international investors, which they link to ongoing economic reforms introduced under the administration of Bola Ahmed Tinubu. The ministry said these reforms are helping to improve investor confidence and create conditions for long-term economic growth.
According to the statement, the discussions also support Nigeria’s broader goal of moving from dependence on raw commodity exports to a production-driven economy built on domestic processing and manufacturing.
The ministry added that strengthening electricity supply, expanding industrial capacity and improving local production remain central to the government’s economic strategy, noting that investments in these areas are expected to play a major role in boosting productivity and stabilising growth over time.
