By Blessing Elo Oghene
The National Board for Technology Incubation (NBTI) has unveiled an investment and development-finance pipeline exceeding $600 million for solar energy and other development initiatives following the participation of 298 Nigerian innovators at the NextGen Innovation Challenge 2026 in London.
The proposed financing comprises a $500 million solar-energy programme for universities and polytechnics and a $100 million financing arrangement for the Tinubu Light Initiative.
However, the funds have not been confirmed as received or fully mobilised.
Speaking at a world press conference on Wednesday, the Director-General of NBTI, Dr Kazeem Kolawole Raji, said the event, held on October 9 in partnership with UKALD, provided an international platform for showcasing Nigerian innovations and connecting innovators with investors and commercial partners.
Raji disclosed that the number of participating innovators increased from 105 in 2025 to 298 in 2026, representing all 36 states and the Federal Capital Territory.
He said the innovations showcased at the event covered several sectors, including agriculture, healthcare, artificial intelligence, renewable energy and advanced manufacturing.
“Our innovators have demonstrated that Nigeria has ideas worthy of international attention. Our responsibility is to help create the conditions in which those ideas can grow, compete and deliver lasting value to our people,” he said.
According to the NBTI, discussions with Gigawatt Global focused on developing solar farms in universities and polytechnics through power purchase agreements.
The board also disclosed that a memorandum of understanding with Financial Innovation for Impact, UK, also known as Cambridge Investors, covered a proposed $100 million 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 also targets ₦30 billion in blended financing for its first phase.
Other outcomes of the innovation challenge included an announced $100,000 investment commitment by Dubai-based investor Erin Grover for three women innovators.
In addition, 16 selected innovators were offered international acceleration opportunities valued at $160,000.
The Learning and Development Bureau UK also offered leadership and management scholarships worth more than £80,000 collectively to the 16 innovators.
The organisation further pledged to assist eligible participants with applications for the United Kingdom’s Global Talent Visa.
Raji said the priority was to translate the opportunities generated through the innovation challenge into viable businesses, employment opportunities and measurable economic benefits.
He called on investors and development partners to support Nigerian innovators through funding, mentorship and improved access to markets.
“Our focus must now move decisively from visibility to implementation, from promising concepts to commercially viable solutions, and from announcements to independently verifiable outcomes,” he said.
