The National Board for Technology Incubation (NBTI) has announced a proposed investment and development-finance pipeline exceeding $600m for solar energy and other initiatives, following the participation of 298 Nigerian innovators at an international innovation challenge in London.
The funding prospects comprise a proposed $500m solar-energy programme for universities and polytechnics, alongside a $100m financing arrangement for the Tinubu Light Initiative. The funds have not been confirmed as received or fully mobilised.
The Director-General of NBTI, Dr Kazeem Kolawole Raji, disclosed this at a press conference on Wednesday, describing the October 9 NextGen Innovation Challenge 2026 as an opportunity to connect Nigerian innovators with international investors and commercial partners.
The event, organised in partnership with UKALD, attracted 298 innovators from all 36 states and the Federal Capital Territory, up from 105 participants in 2025.
Their innovations covered agriculture, healthcare, artificial intelligence, renewable energy and advanced manufacturing.
Raji said the agency’s priority was to help innovators turn their ideas into commercially viable businesses capable of creating jobs and delivering economic benefits.
As part of the proposed investments, NBTI said discussions with Gigawatt Global focused on developing solar farms at universities and polytechnics through power purchase agreements.
The agency also reported signing a memorandum of understanding with Financial Innovation for Impact, UK, also known as Cambridge Investors, concerning the proposed $100m financing arrangement for the Tinubu Light Initiative.
The initiative aims to provide solar-energy solutions to one million micro and small businesses, create 50,000 direct jobs for young people and train 10,000 field marketers. It has set a target of ₦30bn in blended financing for its first phase.
Other reported outcomes included an investment commitment of $100,000 from Dubai-based investor Erin Grover for three women innovators.
Sixteen selected innovators were also offered international acceleration opportunities valued at $160,000.
The Learning and Development Bureau UK further offered leadership and management scholarships worth more than £80,000 in total to the 16 innovators and pledged support for their UK Global Talent Visa applications, subject to eligibility.
Raji urged investors and development partners to provide funding, mentorship and access to markets, stressing that the next stage was to translate the opportunities announced into measurable results.
He said the agency would focus on moving from international exposure to implementation, commercially viable solutions and independently verifiable outcomes.
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