While financial matters will inevitably be a factor in discussions, Nwaneri’s continued growth within manager Mikel Arteta’s set-up will also be a strong consideration.
Nwaneri has made 31 appearances for the Gunners so far this season, getting his opportunities amid a string of injuries suffered by senior attacking players.
The likes of Bukayo Saka, Kai Havertz, Gabriel Martinelli and Gabriel Jesus have all missed long spells.
Saka’s recent return to fitness following a four-month lay-off, in which he underwent hamstring surgery, has not resulted in Nwaneri dropping out of the picture.
The youngster has started both Premier League games since England winger Saka’s return – although he was an unused substitute in the Champions League win over Real Madrid on Tuesday night.
Fellow academy graduate Myles Lewis-Skelly, 18, is also in line for a new contract, with those discussions already under way.
Lewis-Skelly has become a key figure for Arsenal this season and was named in the starting XI for Thomas Tuchel’s first two matches in charge of England – even scoring on his international debut against Albania.
Indeed, Nwaneri and Lewis-Skelly are viewed as crucial to Arsenal’s future and there is a strong ambition at Emirates Stadium to have both players tied down to new contracts.
BBC Sport revealed last month that the club were due to open talks with Saka over an extension to his deal that runs until 2027, while securing William Saliba and Gabriel’s futures is also on the immediate agenda for Berta.
