Nigeria has stepped up efforts to secure major foreign capital inflows, with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, hosting a high-level delegation from GCL Group over proposed investments valued at up to $5.7 billion.
The meeting, held in Abuja, signals what officials describe as growing international confidence in Nigeria’s reform-driven economic direction.
According to a statement issued Monday by the Finance Ministry via its X handle, the delegation was led by former Abia State governor Orji Uzor Kalu.
The proposed multi-billion-dollar investments are expected to target large-scale power generation projects, domestic processing of mineral resources, and the establishment of new manufacturing facilities.
Government officials say the projects are designed to generate employment, increase export earnings, and promote value addition by prioritising local processing over the export of raw materials.
The talks form part of Nigeria’s broader push to reposition its economy from commodity dependence to industrial productivity, aligning with the reform agenda of President Bola Ahmed Tinubu.
The Finance Ministry noted that ongoing economic reforms under the current administration are helping to restore investor confidence and lay the groundwork for long-term growth.
Officials emphasised that strengthening electricity supply, expanding industrial capacity, and improving domestic production remain central pillars of the government’s strategy. Investments in these sectors, they said, are expected to boost productivity, stabilise growth, and reduce Nigeria’s reliance on raw commodity exports.
The engagement with GCL Group underscores Nigeria’s renewed drive to attract strategic foreign investors capable of supporting large-scale infrastructure and industrial transformation.
