NBTI Unveils $600m Proposed Investment, Solar Energy Pipeline

The National Board for Technology Incubation (NBTI) has unveiled a proposed investment and development-finance pipeline exceeding $600 million, with major components targeting solar energy projects and support for Nigerian innovators.

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

The proposed pipeline comprises $500 million for a solar energy programme targeting universities and polytechnics, alongside a proposed $100 million financing opportunity linked to the Tinubu Light Initiative.

Raji clarified that the funds had not been fully secured or disbursed, stressing that the figures represent proposed investment opportunities rather than money already received or deployed.

The $500 million programme is being developed in partnership with renewable energy company Gigawatt Global, with discussions focused on solar power projects for tertiary institutions under power purchase agreements.

The proposed Tinubu Light Initiative, covered by a memorandum of understanding with Financial Innovation for Impact UK, also known as Cambridge Investors, aims to provide solar energy solutions to one million micro and small businesses across Nigeria.

The initiative targets 50,000 direct youth employment opportunities and the training and deployment of 10,000 field marketers. It also aims to mobilise ₦30 billion in blended financing for its first phase.

Potential beneficiaries include tailors, barbers, hairdressers, pharmacies, food vendors, neighbourhood retailers, printing businesses and digital-service providers facing high operating costs because of unreliable electricity supply.

According to NBTI, the programme is intended to reduce dependence on petrol and diesel generators while helping small businesses improve productivity and operating efficiency.

The announcements followed the grand finale of the NextGen Innovation Challenge, held on October 9 in London in partnership with UKALD. The competition attracted 298 Nigerian innovators from all 36 states and the Federal Capital Territory, compared with 105 participants in 2025.

The showcased innovations covered artificial intelligence, agriculture, healthcare, education, renewable energy, telecommunications and advanced manufacturing.

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

In addition, 16 selected innovators received international acceleration opportunities valued at approximately $160,000 collectively, while the Learning and Development Bureau UK offered leadership and management scholarships valued at more than £80,000 in total.

Raji said NBTI’s priority was to convert the opportunities into commercially viable businesses, jobs and measurable economic outcomes.

He stressed that the proposed investments would depend on due diligence, financing arrangements, contractual commitments, regulatory approvals and effective implementation.

The agency called on investors, private-sector organisations and development partners to support Nigerian innovators through funding, mentorship, technical expertise and access to markets.