General News
NBTI Unveils $600m Investment Pipeline, Targets Solar Power for One Million Businesses
The National Board for Technology Incubation (NBTI) has unveiled a proposed investment pipeline exceeding $600 million to support renewable energy, technology commercialisation and business growth in Nigeria, including a solar initiative targeting one million micro and small enterprises.
The Director-General and Chief Executive Officer of NBTI, Dr Kazeem Kolawole Raji, disclosed this on Wednesday in Abuja while presenting the outcomes of the NextGen Innovation Challenge 2026, held in London, United Kingdom.
The initiative, organised by NBTI in partnership with UKALD, brought together Nigerian innovators, international investors, diplomats, business leaders and development partners for its grand finale on October 9 at the Platinum Suite, ExCeL London.
Raji said the challenge attracted 298 innovators from all 36 states and the Federal Capital Territory, up from 105 participants in 2025, reflecting growing interest in Nigeria’s technology and innovation ecosystem.
He said the programme was designed to expose indigenous technologies to international markets, attract investment and create pathways for commercialising homegrown solutions.
“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.
The innovations showcased covered artificial intelligence, robotics, agriculture, healthcare, education, renewable energy, telecommunications, digital technology, enterprise software, 3D printing and advanced manufacturing.
$600m Pipeline Targets Solar Energy, Small Businesses
Raji identified two major proposals underpinning the investment pipeline: a $500 million solar-energy programme being discussed with Gigawatt Global and a $100 million financing opportunity linked to the Tinubu Light Initiative.
The proposed solar investment would support the development of solar farms across Nigerian universities and polytechnics under power purchase agreements.
The second proposal is linked to a memorandum of understanding between NBTI and Financial Innovation for Impact, UK, also known as Cambridge Investors.
However, Raji clarified that the figures represent proposed investment and financing opportunities, not funds already received or disbursed.
He said their actualisation would depend on due diligence, financing arrangements, contractual commitments, regulatory approvals and implementation requirements.
“Their realisation will depend on the applicable due diligence, financing arrangements, contractual commitments, approvals and implementation requirements,” he said.
Tinubu Light Initiative Targets One Million Businesses
Under the proposed Tinubu Light Initiative, NBTI plans to provide solar-energy solutions to one million micro and small businesses across Nigeria.
The programme targets the training and deployment of 10,000 field marketers, the creation of 50,000 direct youth employment opportunities and ₦30 billion in blended financing for its first phase.
It also projects approximately ₦12 billion in annual economic benefits, subject to the assumptions underpinning the programme and its eventual implementation.
Raji said the initiative was designed to address the high cost of energy and unreliable electricity supply affecting small businesses, many of which depend on petrol and diesel generators to remain operational.
Potential beneficiaries include tailors, barbers, hairdressers, pharmacies, restaurants, food vendors, printing businesses, retailers, point-of-sale operators, women-owned enterprises and youth-led businesses.
According to him, access to suitable solar-energy solutions could reduce operating expenses, extend business hours and improve productivity.
The initiative also envisages supporting business formalisation and financial inclusion, including helping informal enterprises establish credit histories where appropriate arrangements can be developed.
Raji said successful implementation would require transparent beneficiary selection, reliable equipment, sustainable financing, maintenance arrangements and effective monitoring.
Investor Commits $100,000 to Women Innovators
The NBTI chief executive also announced a $100,000 investment commitment by Dubai-based investor Erin Grover to support three women innovators.
He said the commitment could help strengthen women-led enterprises through improved access to finance, mentorship, professional networks and business-development support.
Raji, however, stressed the importance of translating the announcement into documented investment arrangements and measurable business outcomes.
16 Innovators Secure International Acceleration Opportunities
Meanwhile, 16 selected innovators from the NextGen Innovation Challenge secured international acceleration opportunities in Finland, Estonia, Poland and Abu Dhabi.
The opportunities, announced by Dr Mazin Gadir, were valued at approximately $10,000 per innovator, representing a stated aggregate value of $160,000.
The selected projects include 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.
The projects span agriculture, healthcare, artificial intelligence, education, clean energy, digital technology and enterprise solutions.
Raji said the opportunities could help participants refine their business models, improve investor readiness, establish international connections and explore new markets.
The Learning and Development Bureau UK, represented by Professor Langley and Dr Obe, also offered the 16 innovators scholarships for a Pre-MBA Level 7 Award in Strategic Leadership and Management.
Each scholarship was valued at more than £5,000, bringing the stated combined value to over £80,000.
The bureau also pledged assistance with applications for the United Kingdom’s Global Talent Visa, subject to individual eligibility and applicable immigration requirements.
NBTI Seeks Stronger Investor Participation
Raji called on Nigerian and international investors, financial institutions, corporate organisations, universities, research institutions and development partners to deepen their engagement with the country’s innovation ecosystem.
He said innovators required more than public recognition, identifying investment, technical mentorship, manufacturing capacity, market access, distribution networks and intellectual-property support as critical to building sustainable businesses.
He urged prospective investors to assess opportunities individually and conduct appropriate due diligence before committing funds.
The NBTI chief executive also called on the media to scrutinise implementation, accountability and measurable results.
“Constructive public scrutiny is essential. It helps institutions improve, partnerships mature and public confidence grow,” he said.
Raji said the board would prioritise the commercialisation of indigenous technologies, the advancement of investment opportunities and the tracking of employment and business outcomes.
He added that the success of the initiatives should ultimately be measured by the number of sustainable businesses created, capital mobilised, jobs generated and products brought to market.
“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 reaffirmed NBTI’s commitment to working with the Federal Government, private-sector organisations and development partners to strengthen technology incubation, entrepreneurship and enterprise development across Nigeria.