NBTI Unveils Proposed $600m Investment Pipeline, Targets Solar Power for One Million Businesses

Nigeria’s National Board for Technology Incubation (NBTI) has announced a proposed investment and development-finance pipeline exceeding $600m, including a solar energy programme aimed at supporting one million micro and small businesses across the country.

The Director-General of NBTI, Dr Kazeem Raji, disclosed this in Abuja while presenting the outcomes of the 2026 NextGen Innovation Challenge.

Proposed Funding and Solar Programme

According to Raji, the pipeline includes a proposed $500m solar energy programme for universities and polytechnics in partnership with Gigawatt Global, as well as a $100m financing opportunity linked to the Tinubu Light Initiative through an agreement with Financial Innovation for Impact, UK, also known as Cambridge Investors.

He clarified that the funds have not been fully secured or disbursed. Their delivery will depend on due diligence, financing arrangements, contractual commitments, regulatory approvals and implementation requirements.

The Tinubu Light Initiative aims to expand access to solar energy for one million micro and small businesses. Its proposed targets include training and deploying 10,000 field marketers, creating 50,000 direct youth jobs and mobilising ₦30bn in blended financing for its first phase.

Supporting Nigerian Innovators

The investment opportunities followed the NextGen Innovation Challenge finale held in London on October 9, 2026. The competition attracted 298 Nigerian innovators from all 36 states and the Federal Capital Territory, up from 105 participants in 2025.

The showcased projects covered artificial intelligence, agriculture, healthcare, education, robotics, renewable energy and advanced manufacturing.

Raji also announced a $100,000 investment commitment from Dubai-based investor Erin Grover to support three women innovators.

Additionally, 16 selected innovators received international acceleration opportunities valued at approximately $10,000 each, alongside scholarships for strategic leadership and management training.

Implementation and Accountability

The proposed solar initiative is expected to help small businesses, including tailors, barbers, pharmacies, food vendors and retailers, reduce their dependence on petrol and diesel generators and manage electricity costs.

However, Raji stressed that success would depend on reliable financing, transparent beneficiary selection, equipment maintenance and measurable results.

He said the agency would continue working with investors, universities, research institutions and development partners to turn Nigerian innovations into viable businesses, attract investment and create jobs.

Punch Newspapers