- The National Board for Technology Incubation has announced a proposed $500m solar programme for universities and polytechnics and a separate $100m financing opportunity linked to the Tinubu Light Initiative.
- The proposed initiative targets one million micro and small businesses, with plans to train 10,000 field marketers, create 50,000 direct youth jobs and mobilise ₦30bn in blended financing for its first phase.
The National Board for Technology Incubation (NBTI) has unveiled a proposed investment and development-finance pipeline exceeding $600m, including solar energy initiatives aimed at expanding electricity access and supporting businesses across Nigeria.
NBTI Director-General Dr Kazeem Raji announced the proposals on Wednesday, October 21, in Abuja while presenting the outcomes of the 2026 NextGen Innovation Challenge. He clarified that the funding remains at the proposal stage and that the announced figures do not represent money already secured or disbursed.
The pipeline includes a proposed $500m solar energy programme for universities and polytechnics, which NBTI plans to develop with Gigawatt Global, and a separate $100m financing opportunity linked to the Tinubu Light Initiative under a memorandum of understanding with Financial Innovation for Impact UK, also known as Cambridge Investors.
Raji said the proposals still require due diligence, financing arrangements, contractual commitments, regulatory approvals and implementation plans before the organisations can deploy the funds.
Tinubu Light Initiative Targets One Million Businesses
The proposed Tinubu Light Initiative aims to provide solar energy solutions to one million micro and small businesses across Nigeria. The programme targets 10,000 field marketers and 50,000 direct youth employment opportunities.
Its first phase aims to mobilise ₦30bn in blended financing and projects annual economic benefits of approximately ₦12bn, subject to its assumptions and implementation outcomes.
The initiative seeks to reduce the operating costs that small businesses incur when they rely on petrol and diesel generators or struggle with unreliable electricity supply.
Potential beneficiaries include barbers, hairdressers, pharmacies, food vendors, neighbourhood retailers, printing businesses and digital-service providers.
“Our vision is to make clean-energy access an enabler of enterprise development, not merely an infrastructure intervention,” Raji said.
The programme also envisages opportunities to promote business formalisation and financial inclusion among informal enterprises, where suitable arrangements can support those objectives. However, NBTI acknowledged that delivery will depend on sustainable financing, transparent beneficiary selection, reliable equipment, maintenance arrangements and measurable results.
Proposed Solar Investment Targets Educational Institutions
The separate $500m proposal with Gigawatt Global would support solar energy development for universities and polytechnics. The announcement forms part of NBTI’s broader effort to connect technology development with investment and commercial opportunities.
Nigeria’s electricity access challenges have strengthened the role of distributed renewable energy, including off-grid solar systems and mini-grids, in supporting households, educational institutions and small businesses.
Raji said the proposed investments aim to connect innovation with practical solutions to economic and infrastructure challenges. However, NBTI has not confirmed that the proposed funding has been fully secured or provided a detailed deployment schedule for the solar programme.
Innovation Challenge Connects Nigerian Businesses With Investors
The proposed investments emerged from the NextGen Innovation Challenge 2026, which NBTI organised with UKALD at the Platinum Suite, ExCeL London, on October 9.
The challenge attracted 298 Nigerian innovators from all 36 states and the Federal Capital Territory, up from 105 participants in 2025. Their projects covered artificial intelligence, robotics, agriculture, healthcare, education, renewable energy, telecommunications, digital technology and advanced manufacturing.
NBTI also announced a $100,000 investment commitment from Dubai-based investor Erin Grover to support three women innovators. Raji said the next step would involve establishing documented investment arrangements and measuring the outcomes for the beneficiaries.
International Acceleration and Training Opportunities
Sixteen selected innovators received international acceleration opportunities covering training in Finland, Estonia, Poland and Abu Dhabi. Dr Mazin Gadir announced the opportunities, which carry a stated value of approximately $10,000 per participant, or $160,000 collectively.
The Learning and Development Bureau UK also offered the 16 innovators scholarships for a Pre-MBA Level 7 Award in Strategic Leadership and Management. The scholarships carry a stated combined value exceeding £80,000. The organisation also pledged assistance with applications for the UK Global Talent Visa, subject to eligibility and immigration requirements.
Raji said the training would help innovators strengthen their business models, manage finances, build teams, protect intellectual property and attract investment.
He added that NBTI would continue engaging government agencies, universities, research institutions, investors and development partners to support technology commercialisation, entrepreneurship and industrial development.
The board said it would assess the initiative’s impact through measurable outcomes, including capital mobilised, sustainable businesses established, jobs created and products brought to market.