The National Board for Technology Incubation (NBTI) has announced an investment and development-finance pipeline exceeding $600 million for Nigerian innovation and clean-energy projects.
This was just as the Federal Government seeks to commercialise indigenous technologies and expand opportunities for young entrepreneurs.
The proposed funding comprises a $500 million solar-energy investment programme being discussed with Gigawatt Global to develop solar farms across Nigerian universities and polytechnics, and a $100 million financing opportunity linked to the Tinubu Light Initiative through a memorandum of understanding between NBTI, Financial Innovation for Impact and Cambridge Investors.
Kazeem Raji, Director-General and Chief Executive Officer of NBTI, disclosed this on Wednesday at a world press conference in Abuja on the outcomes of the NextGen Innovation Challenge 2026, held on October 9 at the Platinum Suite, ExCeL London, United Kingdom.
Raji, however, clarified that the combined figure represents proposed investment and financing opportunities rather than funds already received, disbursed or deployed in Nigeria.
He said the realisation of the investments would depend on due diligence, financing arrangements, contractual commitments, regulatory approvals and implementation requirements.
“Our responsibility is to help move these opportunities from announcements and frameworks towards bankable projects, transparent implementation and verifiable results,” Raji said.
The challenge, organised by NBTI in partnership with UKALD under the theme, “From Nigerian Ingenuity to Global Impact,” brought together Nigerian innovators, international investors, diplomats, business leaders and development partners to showcase homegrown technologies and explore opportunities for commercialisation.
According to Raji, the initiative recorded a significant increase in participation, with 298 Nigerian innovators representing all 36 states and the Federal Capital Territory, compared with 105 participants in 2025.
The innovations showcased covered artificial intelligence, robotics, agriculture, healthcare, education, renewable energy, telecommunications, digital technology, enterprise software, 3D printing and advanced manufacturing.
He said the programme was intended to connect indigenous technologies with investors, business leaders and commercial partners capable of supporting product development, market access, technology transfer and enterprise growth.
However, Raji acknowledged that the number of innovators showcased would not, by itself, determine the programme’s success, stressing that the ultimate objective was to build sustainable businesses, create jobs and develop technologies capable of addressing Nigeria’s economic and social challenges.
“Our real ambition is to ensure that more Nigerian innovations become sustainable businesses, more businesses create decent jobs, more technologies solve pressing national problems, and more Nigerian entrepreneurs compete successfully in domestic and international markets,” he said.
A major initiative presented at the London event was the Tinubu Light Initiative, a proposed national solar-inclusion programme designed to provide affordable and sustainable energy solutions to one million micro and small businesses across the country.
The programme has a target of reaching one million businesses in the 36 states and the FCT, training and deploying 10,000 field marketers, and creating 50,000 direct youth employment opportunities.
It also targets N30 billion in blended financing for its first phase and estimates annual economic benefits of about ₦12 billion, subject to the assumptions underpinning the projections and the programme’s eventual implementation.
Raji emphasised that the figures were programme targets and did not represent beneficiaries reached, jobs created or economic benefits already realised.
The initiative is intended to address the high cost of electricity and dependence on petrol and diesel generators among small businesses, which often face rising operating expenses and limited capacity to expand their activities.
Potential beneficiaries include tailors, hairdressers, barbers, pharmacies, restaurants, food vendors, neighbourhood retailers, printing businesses, small manufacturers, point-of-sale operators and digital-service providers.
Women-owned businesses, youth-led enterprises and eligible National Youth Service Corps graduates are also expected to benefit from opportunities under the proposed programme.
Beyond electricity access, the initiative envisages support for business formalisation and financial inclusion, including the development of credit histories for informal enterprises where appropriate arrangements can be established.
According to Raji, improved access to solar energy could help participating businesses reduce operating costs, extend their business hours, improve productivity and expand employment.
He said implementation would require sound financing arrangements, transparent beneficiary selection, reliable equipment, maintenance systems and consumer protection measures.
NBTI plans to work with public institutions, financial partners, private-sector operators and development organisations to advance the initiative.
The NextGen Innovation Challenge also featured an announced investment commitment of $100,000 by Dubai-based investor Erin Grover to support three women innovators.
Raji said the commitment offered an opportunity to strengthen women-led enterprises and support the development of innovative products and business models.
He noted that access to finance, mentorship, business networks and enterprise-development support remained important to enabling women entrepreneurs to expand their operations and compete in different markets.
The next stage, he said, would involve establishing clearly documented investment arrangements, supporting the selected beneficiaries and measuring the outcomes of the commitment.
The announcement was among several opportunities presented at the event to help Nigerian innovators move beyond prototypes and develop commercially viable products.
Raji said successful commercialisation often required product testing, compliance with relevant standards, intellectual-property protection, manufacturing capacity, market identification and effective business management.
He stressed that NBTI’s objective was not simply to recognise promising ideas but to help create the conditions under which they could become sustainable enterprises.
Sixteen selected innovators were also offered international accelerator opportunities announced by Dr Mazin Gadir, with proposed training destinations including Finland, Estonia, Poland and Abu Dhabi.
The opportunities were valued at approximately $10,000 per innovator, representing a stated aggregate value of $160,000.
The selected projects are SAMA GOLD, Vellas Global Nutrition, Dunnally Fiber, ALINGA, CellGuard, Euler, Quad K PalmTech One, MTH SUNPOD, ACAD AI, AI Explorer for Kids, Gistoneer, Projavi, VoicePilot, Web3tribe University, GreenBook and 9ja Farm.
According to Raji, the acceleration opportunities are intended to help the selected innovators strengthen their business models, improve investor readiness, gain international exposure and explore new markets.
He said the value of international programmes would ultimately depend on their ability to deliver practical benefits, including stronger products, improved corporate governance, commercial partnerships, investment readiness and sustainable revenue.
The Learning and Development Bureau UK, represented by Langley and Obe, also offered scholarships for the 16 innovators to undertake a Pre-MBA Level 7 Award in Strategic Leadership and Management.
Each scholarship was valued at more than £5,000, putting the combined stated value above £80,000.
The bureau also pledged assistance with applications for the United Kingdom’s Global Talent Visa for the selected innovators, subject to eligibility requirements and applicable immigration rules.
Raji said the opportunities were intended to complement technical expertise with the leadership and management skills needed to build viable businesses.
He noted that entrepreneurs required the capacity to manage finances, build teams, protect intellectual property, understand markets, attract investment and establish accountable organisations.
Raji said the outcomes of the NextGen Innovation Challenge demonstrated the potential role of technology incubation in supporting economic diversification, youth employment, enterprise development and private-sector investment.
He said NBTI would continue engaging ministries, government agencies, universities, research institutions, investors and development partners to strengthen the pathway from innovation to commercialisation.
The board’s next phase of work, he said, would focus on advancing financing opportunities through due diligence and bankable project preparation, supporting innovators to move from prototypes to market-ready products, and tracking jobs created and sustained by supported enterprises.
Other priorities include monitoring the delivery of the Tinubu Light Initiative, translating international partnerships into practical benefits for innovators, and ensuring transparent reporting of awards, investment commitments, disbursements, beneficiaries and programme outcomes.
Raji also called on Nigerian and international investors, financial institutions, universities, corporate organisations and established businesses to deepen their engagement with the country’s innovation ecosystem.
He said innovators needed more than recognition, pointing to the importance of investment, market access, technical mentorship, manufacturing capacity, distribution networks and intellectual-property support.
He urged investors to assess opportunities individually and undertake appropriate due diligence before committing capital.
The NBTI chief executive also called on the media to maintain scrutiny of innovation programmes, particularly regarding implementation, accountability and measurable results.
He said the board would measure its performance not only by the number of innovators participating in its programmes but also by the number of sustainable businesses established, private capital mobilised, jobs created and products brought to market.
“The success of NextGen 2026 must ultimately be judged by the value it creates for Nigerians.
“The initiative forms part of NBTI’s efforts to translate the Federal Government’s Renewed Hope Agenda under President Bola Tinubu into economic opportunities through technology incubation, enterprise development and the commercialisation of indigenous innovations”, he said.
Raji said Nigeria’s ability to turn its growing pool of innovators into productive businesses would depend on credible partnerships, effective implementation, access to finance and sustained support for entrepreneurs.
He added that the board remained committed to working with government institutions, private-sector operators and development partners to create conditions for Nigerian technologies to compete in domestic and international markets.
