The National Board for Technology Incubation (NBTI), a federal agency under Nigeria’s Ministry of Innovation, Science and Technology, has achieved financial autonomy with the allocation of 4% of the National Development Levy. This development is a result of the Tax Reform Acts, 2025, and is expected to boost the agency’s performance in incubating, accelerating, and commercializing indigenous technologies.
According to Dr. Kolawole Raji, Director General of NBTI, this allocation marks a significant milestone in the agency’s history, providing a predictable and sustainable revenue framework. This will reduce dependence on annual budgetary cycles and enable long-term strategic planning. Raji emphasized that NBTI’s core mandate is to bridge the gap between research and the marketplace, supporting start-ups, micro, small, and medium enterprises (MSMEs), and innovators with infrastructure, capacity, and funding access.
To create more opportunities for Nigerian innovators, NBTI has forged partnerships with government, academia, industry, and international communities. These partnerships, which span several countries including the UK, Canada, USA, Germany, Singapore, China, Qatar, and Azerbaijan, have opened pathways for funding, mentorship, intellectual property protection, and global market access.
One of NBTI’s initiatives, the NextGen Innovation Challenge, has gained international recognition. The program, which showcases aspiring Nigerian innovators’ products, has been adopted by the Commonwealth of Nations for rollout across 56 member countries. The challenge has already secured significant funding for Nigerian innovators, including $1.5 million for a clean energy solution. Multiple innovators have also progressed through structured funding pipelines, securing investments ranging from $50,000 to $250,000.
The adoption of the NextGen Innovation Challenge by the Commonwealth marks a significant expansion of the program beyond Africa, reinforcing South-South collaboration and cross-border knowledge exchange. The program’s inaugural Caribbean edition is set to debut in 2026, in Barbados and Antigua, and will feature multiple international funding partners. This development reflects a shift towards inclusive innovation, recognizing talent and solutions emerging from diverse regions.
The financial autonomy and international recognition of NBTI’s initiatives are expected to have a significant impact on Nigeria’s innovation ecosystem, driving job creation, wealth generation, and economic diversification. With its newfound financial independence, NBTI is poised to play a key role in supporting Nigerian innovators and promoting indigenous technologies on the global stage.
