The federal government is in discussions with GCL Group, a Chinese company specialising in green and low-carbon technologies, over a proposed $5.7 billion investment covering power, mining, and industrial manufacturing.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, welcomed a high-level delegation from GCL Group in Abuja on Monday. The team, which included Senator Orji Uzor Kalu representing Abia North, outlined plans for large-scale energy projects, local mineral processing, and new factories aimed at creating jobs, boosting exports, and enhancing value addition.
The Ministry of Finance noted that the engagement reflects rising investor confidence under President Bola Tinubu’s reforms, supporting Nigeria’s shift from raw material exports to domestic production while strengthening energy security and industrial capacity.
Steel Development Minister Shuaibu Audu also hosted the delegation on February 22. Led by GCL Group Chairman Zhu Gongshan, the team expressed interest in long-term investments across Nigeria’s solid minerals sector, including steel and aluminium production, as well as the power sector.
Audu highlighted Nigeria’s strategic position within Africa, its abundant natural resources, a large domestic market, and nearly three decades of uninterrupted democratic governance as indicators of investment stability and growth potential. He outlined priority opportunities for investors, including:
Development of greenfield steel plants for diverse steel products
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Establishment of primary aluminium production facilities
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Exploration and development of steel and aluminium raw materials
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Revival of government-owned legacy assets, including the Aluminium Smelter Company of Nigeria
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Development of an LNG plant within the Ajaokuta Steel Company area using existing gas infrastructure in collaboration with the Nigerian National Petroleum Company
The minister assured the delegation that the federal government is committed to providing institutional support, incentives, and an enabling environment to facilitate successful investments with GCL Group.
