The National Board for Technology Incubation has unveiled an investment 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 while presenting outcomes of the 2026 NextGen Innovation Challenge at a press conference in Abuja on Wednesday. The pipeline comprises a proposed $500m solar energy programme for universities and polytechnics, to be developed 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. Dr Raji stressed that these figures represent proposed investment and financing opportunities and should not be interpreted as funds already received, disbursed or fully deployed in Nigeria. Realisation of the funds depends on due diligence, financing arrangements, contractual commitments, regulatory approvals and implementation requirements.
The proposed Tinubu Light Initiative is designed to address energy challenges facing small businesses, including high operating costs from unreliable electricity and reliance on petrol and diesel generators. Potential beneficiaries include tailors, barbers, hairdressers, pharmacies, food vendors, neighbourhood retailers, printing businesses and digital-service providers. The initiative targets training and deploying 10,000 field marketers and creating 50,000 direct youth employment opportunities. It also aims to secure ₦30bn in blended financing for its first phase and estimates annual economic benefits of about ₦12bn, subject to underlying assumptions and implementation outcomes. 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 NextGen Innovation Challenge 2026, organised by NBTI in partnership with UKALD, 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. Dr Raji said the initiative was designed to connect Nigerian innovators with international investors, business leaders and development partners to accelerate commercialisation of indigenous technologies.
Beyond the proposed clean-energy investments, international acceleration opportunities were announced for 16 selected innovators, valued at approximately $10,000 per innovator and totalling $160,000. These programmes include training in Finland, Estonia, Poland and Abu Dhabi. 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, valued at more than £5,000 each and representing a combined value exceeding £80,000. Dubai-based investor Erin Grover committed $100,000 to support three women innovators. Dr Raji said the board would continue engaging ministries, universities, research institutions, investors and development partners to strengthen Nigeria's innovation ecosystem.
Dr Raji stressed that success should be measured by the number of businesses that become sustainable, capital actually mobilised, jobs created and products successfully introduced to the market, rather than merely by innovators showcased. He urged the private sector and development partners to provide innovators with funding, technical mentorship, manufacturing capacity, distribution networks and intellectual property support. For savers and borrowers, the initiative could expand access to clean-energy financing and create new business opportunities, though actual benefits depend on successful implementation and capital mobilisation.