Nigeria is actively seeking major foreign investment as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, hosted a delegation from GCL Group in Abuja to discuss potential projects worth up to $5.7 billion across key sectors.
Led by Orji Uzor Kalu, the delegation explored investments in large-scale power generation, local processing of mineral resources, and the establishment of new manufacturing facilities. Officials noted that these projects aim to create jobs, boost exports, and promote value addition within the country rather than exporting raw materials.
The Finance Ministry highlighted that the engagement reflects growing international investor interest, which has been supported by economic reforms under President Bola Ahmed Tinubu’s administration. These reforms are intended to improve investor confidence and lay the foundation for sustainable economic growth.
In a related development, the Federal Government reiterated its goal of building a $1 trillion economy by 2036, with large-scale mining investments identified as key drivers of industrial growth and economic diversification.
Minister of Solid Minerals Development, Dele Alake, said the Dukia-Arinola Polymetallic Mine-to-Market Project exemplifies private-sector-led initiatives that can accelerate GDP growth, expand export capacity, and reduce Nigeria’s reliance on oil revenues. He spoke during the signing of an Engineering, Procurement, and Construction Management (EPCM) MoU between Dukia Gold & Precious Metals Refining Company Limited and SGS Bateman at the Investing in African Mining Indaba in Cape Town.
Alake emphasized that the mining sector must evolve into a central pillar of Nigeria’s economic transformation, with the Dukia–Arinola project expected to stimulate industrial activity, generate skilled and semi-skilled jobs, strengthen local supply chains, encourage mineral beneficiation, and increase foreign exchange earnings.
He added that recent reforms, including clearer regulations, streamlined licensing, investor-friendly incentives, and prioritised infrastructure, are already enhancing the sector’s contribution to GDP and positioning mining as a strategic driver of national growth.
