The National Board for Technology Incubation has unveiled an investment and development-finance pipeline exceeding $600m, alongside a proposed solar energy programme targeting one million micro and small businesses across Nigeria.
The Director-General of NBTI, Dr Kazeem Raji, disclosed this on Wednesday while presenting the outcomes of the 2026 NextGen Innovation Challenge at a world press conference in Abuja.
Raji said the investment pipeline comprised a proposed $500m solar energy programme for universities and polytechnics, to be developed in partnership with Gigawatt Global, and a $100m financing opportunity linked to the Tinubu Light Initiative under a memorandum of understanding with Financial Innovation for Impact, UK, also known as Cambridge Investors.
He, however, clarified that the funds had not been fully secured or disbursed, stressing that their realisation would depend on due diligence, financing arrangements, contractual commitments, regulatory approvals and implementation requirements.
“These figures represent proposed investment and financing opportunities and should not be interpreted as $600m already received, disbursed or fully deployed in Nigeria,” he said.
The proposed investments emerged from the grand finale of the NextGen Innovation Challenge 2026, organised by NBTI in partnership with UKALD at the Platinum Suite, ExCeL London, United Kingdom, on October 9.
According to Raji, the initiative was designed to connect Nigerian innovators with international investors, business leaders and development partners to accelerate the commercialisation of indigenous technologies.
He said the challenge attracted 298 Nigerian innovators from all 36 states and the Federal Capital Territory, up from 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.
“Our message is straightforward: Nigeria’s innovators deserve visibility, our enterprises deserve opportunities to grow, and our technologies deserve pathways to the marketplace,” Raji said.
He added that NBTI’s priority was to move beyond showcasing ideas to helping innovators develop commercially viable products, establish sustainable businesses and create jobs.
The proposed Tinubu Light Initiative is expected to support one million micro and small businesses through access to solar energy solutions, with a proposed target of training and deploying 10,000 field marketers and creating 50,000 direct youth employment opportunities.
The initiative also targets ₦30bn in blended financing for its first phase and estimates annual economic benefits of about ₦12bn, subject to its underlying assumptions and implementation outcomes.
Raji said the programme was conceived to address the energy challenges facing small businesses, including high operating costs associated with unreliable electricity and dependence on petrol and diesel generators.
Tailors, barbers, hairdressers, pharmacies, food vendors, neighbourhood retailers, printing businesses and digital-service providers are among the potential beneficiaries.
He said the initiative also envisaged opportunities to promote business formalisation and financial inclusion, particularly among informal enterprises, where appropriate arrangements could be established.
However, the NBTI director-general acknowledged that the programme’s success would depend on sound financing, transparent beneficiary selection, reliable equipment, maintenance arrangements and measurable delivery.
“Our vision is to make clean-energy access an enabler of enterprise development, not merely an infrastructure intervention,” he said.
The proposed initiative comes amid efforts to expand electricity access through distributed renewable energy in Nigeria.
The World Bank has reported that off-grid solar and mini-grid investments have helped extend electricity access to millions of Nigerians, while supporting small businesses and employment.
Its Nigeria Electrification Project supported the deployment of mini-grids and solar home systems, demonstrating the role of private-sector investment in addressing energy access gaps.
Beyond the proposed clean-energy investments, Raji announced an investment commitment of $100,000 by Dubai-based investor Erin Grover to support three women innovators.
He said the commitment was intended to strengthen women-led innovation and enterprise development, adding that the next priority was to translate it into documented investment arrangements and measurable outcomes for the beneficiaries.
The London event also featured international acceleration opportunities for 16 selected innovators, announced by Dr Mazin Gadir, for training in Finland, Estonia, Poland and Abu Dhabi.
The opportunities were valued at approximately $10,000 per innovator, giving a stated aggregate value of $160,000.
The selected projects included 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 projects covered agriculture, healthcare, artificial intelligence, education, clean energy, digital technology and enterprise solutions.
He said the acceleration programmes were expected to help participants strengthen their business models, improve investor readiness, establish international networks and explore opportunities in new markets.
The Learning and Development Bureau UK also offered scholarships to the 16 innovators for a Pre-MBA Level 7 Award in Strategic Leadership and Management.
The scholarships were valued at more than £5,000 each, representing a combined stated value exceeding £80,000.
The organisation also pledged assistance with applications for the United Kingdom’s Global Talent Visa, subject to eligibility and applicable immigration requirements.
Raji said leadership and management training were essential to ensuring that technological innovations translated into sustainable businesses.
“Innovators need the ability to plan strategically, manage finances, build teams, protect intellectual property, understand markets, attract investment and establish accountable organisations,” he said.
The NBTI chief executive said the outcomes of the challenge aligned with the Federal Government’s broader economic priorities, particularly youth entrepreneurship, private-sector investment, industrial development and technology commercialisation.
NBTI’s mandate includes developing technology incubation centres, supporting innovative enterprises and facilitating the commercialisation of research and development outcomes.
The agency says its incubation programme is intended to connect technology developers with entrepreneurs, capital and technical expertise to improve the prospects of turning innovations into viable businesses.
Raji said the board would continue engaging ministries, universities, research institutions, investors and development partners to strengthen the country’s innovation ecosystem.
He stressed that the impact of the initiative should ultimately be assessed by the number of businesses that became sustainable, the amount of capital actually mobilised, jobs created and products successfully introduced to the market.
“Our task is only beginning. We must turn exposure into market access, partnerships into implementation, innovation into enterprise, enterprise into employment, and investment opportunities into productive economic activity,” he said.
He urged the private sector and development partners to provide innovators with funding, technical mentorship, manufacturing capacity, distribution networks and intellectual property support.
He also called on the media to sustain coverage of indigenous innovation while scrutinising implementation, accountability and measurable outcomes.
“We must measure our success not only by the number of innovators showcased, but by how many enterprises become sustainable, how much private capital is mobilised, how many jobs are created, how many products reach the market and how effectively these innovations address real problems,” Raji said.