Nigeria Eyes $5.7bn Investment Boost for Power and Jobs
By Patience Ikpeme
Nigeria is on the verge of securing a $5.7 billion investment that could transform the country’s electricity, mining, and manufacturing sectors.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, met with a high-level team from the GCL Group in Abuja on Monday to discuss these proposals.
The delegation was led by Senator Orji Uzor Kalu, who brought the international investors to meet with the government. According to the Ministry of Finance, the plan includes building large-scale power plants to improve electricity, setting up local mineral processing centers, and opening new factories across the country.
These projects are expected to create thousands of new jobs for Nigerians and help the country produce more goods locally rather than just exporting raw materials. By processing minerals like lithium here at home, Nigeria can sell finished products to the rest of the world for much more money, which will help strengthen the Naira.
The government noted that these investors are coming to Nigeria because of the recent economic reforms led by President Bola Ahmed Tinubu. These changes have given foreign businesses more confidence to bring their money and technology into the country for the long term.
“The proposals include large-scale energy generation, local mineral processing and new factories aimed at boosting jobs, exports and value addition,” the Ministry stated. Officials added that this move supports Nigeria’s plan to stop being a country that only sells raw resources and instead becomes a hub for real production and manufacturing.
This partnership is a big win for Nigeria’s energy security. With more power plants and factories, the economy is expected to grow faster, making life better for ordinary citizens through more business opportunities and a more stable power supply.
The Finance Ministry described the engagement as a clear sign that Nigeria is becoming a top destination for serious global investors who want to help build the nation’s industrial future.
