By: ThinkBusiness Africa
The Nigerian Government has taken a decisive step toward closing the country’s infrastructure gap, advancing negotiations for a landmark $5.7 billion investment package with China’s GCL Group.
A post on X (Twitter) from the Ministry of Finance, confirmed the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, received a high-level delegation from the Chinese energy conglomerate in Abuja on Monday.
The talks, facilitated by Senator Orji Uzor Kalu,Chairman of Swiber Africa, GCL’s local partner in the ambitious venture signify a major push to attract foreign direct investment (FDI) into the nation’s power, mining, and manufacturing sectors.
The $5.7 billion proposal is designed to address Nigeria’s most pressing economic bottlenecks—specifically energy deficits and the lack of domestic value addition in the solid minerals sector.
In January, GCL and Swiber Africa signed a New Energy Industry Framework Cooperation Agreement to solve Nigeria’s energy problems through development of a new-generation power system and the lithium battery industry chain.
The Finance Ministry noted that the scale of this investment is a direct result of the economic reforms initiated under President Bola Ahmed Tinubu. Minister Wale Edun emphasized that these reforms are creating a predictable and investor-friendly environment, essential for securing long-term capital.
“This engagement reflects rising investor confidence in the reforms under President Bola Ahmed Tinubu,” the Ministry of Finance stated. “It supports Nigeria’s strategic shift from raw exports to domestic production.”
The GCL Group, a global leader in clean energy and industrial technology, brings technical expertise that could transform Nigeria’s mining landscape—specifically in the lithium battery value chain.
