The National Board for Technology Incubation has recorded a major milestone in Nigeria’s innovation ecosystem, helping local innovators attract £1.5 million in foreign investment within just one year.
The Director-General and Chief Executive Officer of NBTI, Dr. Kazeem Kolawole Raji, disclosed this on Tuesday in Abuja during a world press conference held to mark his first anniversary in office. He said the achievement reflects a renewed focus on positioning Nigerian innovation on the global stage and converting ideas into viable, investment-ready ventures.
According to Raji, Nigerian innovators gained unprecedented international exposure at the NextGen Innovation Challenge grand finale held in London in October 2025. He revealed that the initiative attracted over 3,000 applications from across the country, with 105 innovators selected to showcase their solutions before global investors and stakeholders.
“The outcomes were extraordinary,” Raji said. “Interface Africa alone secured £1.5 million for a clean energy solution, while several other innovators advanced through funding pipelines ranging from $50,000 to $250,000.”
Beyond funding, he noted that the NextGen platform delivered massive global visibility for Nigerian talent, earning recognition from Innovate UK, featuring in a BBC documentary, and generating more than 200 million global media and digital engagements.
Raji further disclosed that the success of the initiative has led to its formal adoption by the Commonwealth for rollout across its 56 member countries. He described the move as a major endorsement of Nigeria’s innovation leadership, stressing that NextGen is no longer just a competition but a Commonwealth-backed innovation infrastructure.
“This adoption positions NextGen not as a standalone competition, but as a platform designed to convert ideas into scalable ventures and transform regional collaboration into measurable economic impact,” he said.
The NBTI boss also announced that Innovate UK has agreed to admit 20 outstanding Nigerian innovators into its ecosystem on a fully funded basis for the 2026 edition, opening further opportunities for global partnerships and growth.
Looking ahead, Raji said NBTI will consolidate the gains with the 2026 NextGen Innovation Challenge, which will focus on emerging and high-impact sectors such as artificial intelligence, advanced semiconductors, green energy, climate resilience, and women-led technology solutions.
He expressed confidence that the expanded focus will further strengthen Nigeria’s innovation landscape, attract more foreign investment, and position the country as a hub for technology-driven solutions in Africa and beyond.