…as Tinubu light initiative targets one million Nigerian small businesses
The National Board for Technology Incubation (NBTI) says it has advanced investment and development-finance opportunities worth more than $600 million following the 2026 NextGen Innovation Challenge in London.
The board’s Director-General and Chief Executive, Dr Kazeem Kolawole Raji, disclosed this at a news conference while presenting the outcomes of the competition held this month at the ExCeL London, United Kingdom.
The event, organised by NBTI in partnership with UKALD under the theme From Nigerian Ingenuity to Global Impact, showcased 298 Nigerian innovators from all 36 states and the Federal Capital Territory.
Raji said participation increased significantly from 105 innovators last year providing Nigerian entrepreneurs with international exposure and opportunities to engage investors, business leaders and potential commercial partners.
The innovations covered artificial intelligence, robotics, agriculture, healthcare, education, renewable energy, telecommunications, digital technology 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.
Raji said the investment opportunities comprised a proposed $500 million solar-energy programme with Gigawatt Global and a $100 million financing opportunity linked to the Tinubu Light Initiative.
The proposed solar programme aims to develop solar farms across Nigerian universities and polytechnics through power purchase agreements.
The board also signed a memorandum of understanding with Financial Innovation for Impact UK, also known as Cambridge Investors, to support the financing and implementation framework for the Tinubu Light Initiative.
However, Raji stressed that the combined figure represented proposed investment and financing opportunities, not funds already received or disbursed.
“Their realisation will depend on the applicable due diligence, financing arrangements, contractual commitments, approvals and implementation requirements,” he said.
He added that NBTI’s priority was to turn the opportunities into viable projects with measurable economic and social benefits.
The board also unveiled the Tinubu Light Initiative, a proposed solar-energy programme targeting one million micro and small businesses across Nigeria’s 36 states and the FCT.
The initiative aims to train and deploy 10,000 field marketers, create 50,000 direct youth employment opportunities and mobilise ₦30 billion in blended financing for its first phase.
It also projects about ₦12 billion in annual economic benefits, subject to implementation and the assumptions underlying the estimates.
The programme is designed to help small businesses reduce energy costs and dependence on petrol and diesel generators.
Potential beneficiaries include tailors, hairdressers, pharmacies, food vendors, retailers, printing businesses and point-of-sale operators, as well as women-owned and youth-led enterprises.
Raji said the initiative could improve productivity, extend business operating hours and support financial inclusion.
He noted, however, that its success would depend on reliable equipment, transparent beneficiary selection, sustainable financing and effective maintenance arrangements.
Women innovators receive investment commitment
The challenge also featured an announced $100,000 investment commitment from Dubai-based investor Erin Grover to support three women innovators.
According to Raji, the commitment presents an opportunity to strengthen women-led businesses through access to finance and enterprise-development support.
He said the next priority was to establish documented investment arrangements and ensure that the commitment produced measurable results.
16 innovators offered international opportunities
Sixteen selected innovators also received announced opportunities to participate in accelerator programmes in Finland, Estonia, Poland and Abu Dhabi.
Dr Mazin Gadir announced the opportunities, valued at approximately $10,000 per innovator, giving a stated total 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 cover agriculture, healthcare, artificial intelligence, education, clean energy and digital technology.
The Learning and Development Bureau UK 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 to support applications for the UK Global Talent Visa, subject to eligibility and immigration requirements.
NBTI prioritises commercialisation
Raji said the board would focus on helping innovators transform prototypes into commercially viable products and sustainable businesses.
He identified investment mobilisation, job creation, technology commercialisation, clean-energy delivery and accountability as priorities for the next phase of the programme.
“Our task is only beginning,” he said. “We must turn exposure into market access, partnerships into implementation, innovation into enterprise, enterprise into employment, and investment opportunities into productive economic activity.”
He called on Nigerian and international investors, financial institutions, universities and established businesses to support innovators through financing, mentorship, manufacturing capacity and market access.
Raji also urged the media to scrutinise implementation and demand measurable outcomes from the announced initiatives.
He said NBTI would measure progress not only by the number of innovators showcased, but also by the businesses established, jobs created, private capital mobilised and products successfully introduced to the market.
