The National Board for Technology Incubation (NBTI) has outlined an investment and development-finance pipeline exceeding $600m, alongside a solar energy programme targeting one million micro and small businesses across Nigeria.

NBTI Director-General Dr Kazeem Raji disclosed the plans on Wednesday at a world press conference in Abuja, where he presented the outcomes of the 2026 NextGen Innovation Challenge.

The pipeline comprises a $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.

Raji clarified that the funds had not been fully secured or disbursed, noting 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 investment plans 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 aims to connect Nigerian innovators with international investors, business leaders and development partners to accelerate the commercialisation of indigenous technologies.

The challenge attracted 298 Nigerian innovators from all 36 states and the Federal Capital Territory, up from 105 participants in 2025. Entries 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 help innovators develop commercially viable products, establish sustainable businesses and create jobs.

The Tinubu Light Initiative is designed to provide solar energy solutions to one million micro and small businesses. Its targets include training and deploying 10,000 field marketers and creating 50,000 direct youth employment opportunities.

The programme also targets ₦30bn in blended financing for its first phase and estimates annual economic benefits of approximately ₦12bn, subject to its underlying assumptions and implementation outcomes.

Raji said the initiative was conceived to address high operating costs faced by small businesses because of unreliable electricity and dependence on petrol and diesel generators.

Potential beneficiaries include tailors, barbers, hairdressers, pharmacies, food vendors, neighbourhood retailers, printing businesses and digital-service providers. The initiative also envisages opportunities to promote business formalisation and financial inclusion among informal enterprises, where appropriate arrangements can be established.

Raji said successful implementation would require 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 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.

The bank’s Nigeria Electrification Project supported the deployment of mini-grids and solar home systems to address electricity access gaps.

Beyond the energy initiatives, Raji announced a $100,000 investment commitment from Dubai-based investor Erin Grover to support three women innovators. He said the next priority was to establish 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. The opportunities cover training in Finland, Estonia, Poland and Abu Dhabi, with a stated value of approximately $10,000 per innovator and an aggregate value of $160,000.

The selected projects were 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 cover agriculture, healthcare, artificial intelligence, education, clean energy, digital technology and enterprise solutions. The acceleration programmes are expected to help participants strengthen their business models, improve investor readiness, build international networks and explore new markets.

The Learning and Development Bureau UK also offered the 16 innovators scholarships for a Pre-MBA Level 7 Award in Strategic Leadership and Management. Valued at more than £5,000 each, the scholarships have 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 turning technological innovations 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.

He said the challenge’s outcomes 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. Its incubation programme connects technology developers with entrepreneurs, capital and technical expertise to help turn innovations into viable businesses.

Raji said the board would continue engaging ministries, universities, research institutions, investors and development partners to strengthen Nigeria’s innovation ecosystem.

He said the initiative’s impact should be measured by the number of sustainable businesses established, 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.

Raji urged private-sector organisations 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.

Source: PUNCH