Nigeria is intensifying efforts to attract major foreign investment, with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, receiving 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, led by Orji Uzor Kalu, met with the minister as part of ongoing engagements aimed at boosting investment inflows, 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.
According to the statement, the planned projects are expected to expand job opportunities, increase exports and promote value addition within Nigeria rather than exporting raw materials.
Officials noted that the engagement reflects growing interest from international investors, which they linked to ongoing economic reforms introduced under the administration of President Bola Tinubu.
The ministry said the reforms are helping to boost investor confidence and create conditions for long-term economic growth.
It added that the discussions align with Nigeria’s broader objective of transitioning from dependence on raw commodity exports to a production-driven economy anchored on domestic processing and manufacturing.
The statement further noted that strengthening electricity supply, expanding industrial capacity and improving local production remain central to the government’s economic strategy, adding that investments in these areas are expected to play a significant role in boosting productivity and stabilising growth over time.
