Nigeria secures $5.7bn China deal to supercharge power, factories

Abdullateef Fowewe

Nigeria is pushing forward with multimillion-dollar investment talks with China’s GCL Group, aiming to unlock up to $5.7 billion for power generation, mining, and industrial manufacturing, a statement from the Ministry of Finance revealed on Monday.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, hosted a high-level delegation from GCL Group in Abuja.

The group was led by Senator Orji Uzor Kalu, as the Federal Government advances these strategic investments.

Key proposals on the table include “large-scale energy generation, local mineral processing and new factories aimed at boosting jobs, exports and value addition,” the ministry’s statement noted.

These initiatives build on reforms under President Bola Tinubu, signaling “rising investor confidence” and Nigeria’s pivot “from raw exports to domestic production.”

They emphasised the deals’ potential to strengthen “energy security, industrial capacity and long-term economic growth.”