By Abiola Olawale
The Federal Government of Nigeria is finalizing a massive $5.7 billion investment package from China.
The deal, targeting the power, mining, and manufacturing sectors, marks a pivotal moment in President Bola Ahmed Tinubu’s “Renewed Hope” agenda to shift Nigeria from a consumption-based economy to a production-driven powerhouse.
The announcement followed a high-level meeting in Abuja on Monday, February 23, 2026, between the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and a delegation from the GCL Group, led by Senator Orji Uzor Kalu.
The Federal Ministry of Finance disclosed the announcement on its official X handle on Monday.
According to the Ministry, the proposed investments aim to enhance domestic production, create jobs, and expand export capacity across Nigeria.
The Ministry noted that the engagement aligns with ongoing economic reforms under Tinubu.
“The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a high-level delegation from GCL Group in Abuja, led by Senator Orji Uzor Kalu, as Nigeria moves to secure up to $5.7bn in strategic investments across power, mining, and industrial manufacturing,” the statement stated.
“The proposals include large-scale energy generation, local mineral processing and new factories aimed at boosting jobs, exports and value addition,” the ministry said.
The statement added that the investments are “backed by reforms under President Bola Ahmed Tinubu and reflect rising investor confidence.”
