NBTI UNVEILS $600M PROPOSED INVESTMENT IN SOLAR ENERGY

The National Board for Technology Incubation (NBTI) has unveiled a proposed $600 million investment and a pipeline of solar energy projects, as Nigeria continues to explore renewable energy solutions to address electricity challenges and reduce energy costs for businesses.

The proposal comes amid the Federal Government’s efforts to expand access to cleaner and more reliable power through the Tinubu Light Initiative, a nationwide programme designed to provide affordable renewable energy to one million micro, small and medium-sized enterprises (MSMEs).

The initiative was unveiled by NBTI in Abuja on August 6, 2026, during the National Showcase of the NextGen Innovation Challenge. NBTI Director-General and Chief Executive Officer, Dr Kazeem Kolawole Raji, said the programme was expected to create more than 50,000 direct jobs while supporting clean energy adoption and local manufacturing. 

The renewable energy push also includes a separate proposal to finance solar power plants at Nigerian public universities. In August, renewable energy company Gigawatt Global announced plans to provide up to $500 million in project financing under the Tinubu Light Initiative, with the funding expected to cover as much as 90 per cent of eligible project costs, subject to bankable power purchase agreements and agreed milestones. 

The projects are intended to improve electricity supply and potentially extend power access to surrounding rural communities.