The 17-year-old has agreed to link up with City but a work permit will be required in order for him to compete in England and the required paperwork is yet to be processed.
City are prepared to keep pushing the relevant authorities, with Iheanacho having shown what an exciting talent he is by scoring in a 4-1 victory over Sporting Kansas City on Wednesday.
Manuel Pellegrini believes the youngster is destined for a bright future and would like to see his potential unlocked at the Etihad Stadium.
He is, however, also aware that there are a number of obstacles to overcome before a player who starred for Nigeria at the World U17 Championship in 2013 can be added to the City ranks.
Pellegrini said: "Kelechi is just 17 years old and he’s a very important player for us in the future.
"He has demonstrated what he can do in the future. It depends on the way he takes this profession, but I think he's a good talent.
"We've not yet decided (what the plan is for him) because it's not easy. He's just 17 and sometimes that’s the problem. We’ll see what he will do in the future.
"For the moment he will stay with us and we’ll see when we return to England what will happen with him. But he's a very important player for the future for the club.
"After the tour we will see what happens with him. There are a lot of things to arrange to play in England but he has an important future."