The National Board for Technology Incubation (NBTI) says it has unlocked investment and development-finance pipeline exceeding $600 million through international partnerships, including a $500 million solar-energy partnership and a $100 million financing memorandum of understanding (MoU).
The Director-General of NBTI, Dr Kazeem Raji, disclosed this on Wednesday in Abuja during a news conference on the outcomes of the NextGen Innovation Challenge 2026, which showcased 298 Nigerian innovators from the 36 states and the Federal Capital Territory (FCT).
Raji said the number of innovators showcased increased from 105 in the previous year to 298 in 2026.
NBTI outlines proposed financing arrangements
Raji said the proposed investment pipeline comprises two international arrangements: a solar-energy partnership with Gigawatt Global to support Nigerian tertiary institutions and a financing MoU with Cambridge Investors.
- “The first component involves a proposed 500 million dollar solar-energy partnership with Gigawatt Global for Nigerian tertiary institutions,” he said.
- “The second component features a 100 million dollar financing Memorandum of Understanding signed with Cambridge Investors,” he added.
According to Raji, the $100 million financing MoU is intended to support President Bola Tinubu’s Light Initiative, which targets one million micro and small businesses nationwide.
NBTI highlights support for women innovators
Raji said international support for the innovation ecosystem also includes grants for women innovators, foreign acceleration programmes and leadership scholarships.
- “Our message is straightforward: Nigeria’s innovators deserve visibility, our enterprises deserve opportunities to grow and our technologies deserve pathways to the marketplace,” he said.
- “We are presenting a national innovation story, a portfolio of emerging investment, and a practical pathway towards economic prosperity,” Raji added.
He said NBTI’s responsibility was to help translate the opportunities and frameworks into bankable projects with transparent implementation and verifiable results.
- “Our responsibility is to help move these opportunities from announcements and frameworks towards bankable projects, transparent implementation, and verifiable results,” he said.
The NBTI director-general urged private-sector investors and development partners to deepen their engagement with Nigeria’s innovation ecosystem.
Efforts to strengthen Nigeria’s innovation ecosystem
The proposed investment pipeline comes amid broader government and private-sector efforts to strengthen Nigeria’s innovation ecosystem, expand access to financing and develop technology talent.
- In August 2026, the Federal Government, through the National Information Technology Development Agency (NITDA), announced plans to develop a National Innovation Hub Standards Framework to establish common standards for Nigeria’s 339 identified innovation hubs and strengthen their capacity to support startups and technology-driven businesses.
- Earlier, in May 2026, Moniepoint announced a N3 billion investment to establish innovation hubs at Obafemi Awolowo University, the University of Nigeria, Nsukka, and Ahmadu Bello University over three years, as part of efforts to strengthen Nigeria’s technology talent pipeline.
In July 2026, the Bank of Industry signed a $170.06 million fund-management agreement with Kuramo Capital Management under the Investment in Digital and Creative Enterprises (iDICE) Programme to channel financing to startups and high-growth businesses in Nigeria’s technology and creative sectors.