NBTI Seeks Global Investment to Turn 298 Nigerian Innovations into Businesses

By Fatima Saka

The National Board for Technology Incubation (NBTI) has called on international investors and Nigerians in the diaspora to invest in home-grown innovations, as 298 Nigerian entrepreneurs showcased their products and technologies at an international event in London.

The innovations, drawn from Nigeria’s 36 states and the Federal Capital Territory (FCT), were presented at the 2026 NextGen Innovation Challenge international grand finale, which brought together entrepreneurs, investors, government officials and diplomats to explore opportunities for commercialising indigenous technologies.

The Director-General of NBTI, Dr. Kazeem Kolawole Raji, said attracting investment into local innovations was critical to Nigeria’s ambition of building a $1 trillion economy, stressing that the government could not achieve the target without significant contributions from the private sector and technology-driven enterprises.

According to him, Nigeria must move beyond generating ideas to building businesses, manufacturing products, creating intellectual property and developing enterprises capable of competing in international markets.

“A one-trillion-dollar economy cannot be built by government alone. It must be built by Nigerians who innovate, Nigerians who manufacture, Nigerians who invest, Nigerians who create intellectual property, Nigerians who build enterprises, and Nigerians who compete successfully in the global markets,” he said.

Raji explained that the NextGen Innovation Challenge was designed to bridge the gap between innovation and the marketplace by connecting entrepreneurs with investors, business partners and other stakeholders who could help transform their ideas into commercially viable products.

He disclosed that participation in the initiative had increased from 105 innovations in the previous year to 298 in 2026, describing the growth as evidence of the expanding pool of entrepreneurial talent across the country.

The NBTI chief urged the innovators to build on the international exposure provided by the showcase by focusing on product development, commercialisation and business expansion.

“Today is a celebration, but tomorrow is the real test,” he said, challenging participants to ensure their innovations translated into sustainable businesses and measurable economic outcomes.

Speaking on behalf of Nigeria’s High Commissioner to the United Kingdom, Ambassador Aminu Dalhatu, Ambassador Abu Obey Eche said London’s status as a leading global financial and technology hub provided an important platform for Nigerian entrepreneurs seeking international investment.

He noted that the event offered an opportunity to strengthen economic ties, attract capital and connect Nigerian innovators with institutions and businesses capable of supporting their growth.

“Diplomacy today must go beyond governments speaking to governments. It must also connect businesses to markets, innovators to investors, researchers to institutions, and Nigerian opportunities to global capital,” Eche said.

He assured participants that the Nigerian High Commission in the UK would continue to facilitate opportunities for local entrepreneurs to access international markets and investment networks.

Eche also encouraged Nigerians living abroad to contribute their expertise, professional networks and financial resources to the development of home-grown businesses, noting that diaspora participation could help accelerate the growth of indigenous enterprises.

An investor at the event, Ms. Erin Grover, expressed optimism about the quality of innovations presented, particularly those developed by women entrepreneurs.

She said she was interested in supporting promising businesses emerging from the showcase and encouraged participants to remain persistent in pursuing their entrepreneurial ambitions.

“I think there are some inspiring women here especially who I’ve been able to speak with today, and I definitely hope to invest in at least one of them coming out of this event,” Grover said.

Also speaking, the Chairman of the All Progressives Congress (APC) in the UK and Executive Director of UKALD, Hon. Tunde Doherty, described the showcase as an opportunity for investors to identify businesses with the potential to succeed in competitive markets.

He said the innovations on display went beyond theoretical ideas, urging investors to recognise the commercial opportunities presented by Nigerian entrepreneurs and support the development of their products into viable businesses.

Doherty called for greater confidence in Nigeria’s innovation ecosystem, noting that access to funding and strategic partnerships would be crucial to helping entrepreneurs expand their operations and reach international customers.

The Permanent Secretary of the Federal Ministry of Innovation, Science and Technology, Dr. Mukhtar Muhammad, reaffirmed the Federal Government’s commitment to supporting the programme, emphasising that innovation should be measured by its ability to address real-world challenges.

He said entrepreneurs who identified pressing societal problems and developed practical solutions could make significant contributions to national development.

“If there is a problem in the society and you identify that problem and you try to solve it, you are making more impact to the society than someone who is doing several degrees in university,” Muhammad said.

He stressed the importance of encouraging problem-solving, creativity and the development of technologies that could improve lives, create employment and strengthen the economy.

The initiative received support from the Federal Ministry of Innovation, Science and Technology, the Ministry of Foreign Affairs, the Nigerian High Commission in the UK, the British High Commission and UKALD.

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The NBTI said its next priority was to convert the international showcase into concrete investment agreements, viable businesses, employment opportunities and access to global markets for Nigerian innovators.

The board maintained that sustained collaboration among government institutions, investors, entrepreneurs and diaspora communities would be essential to unlocking the commercial potential of Nigeria’s indigenous technologies and strengthening the country’s innovation-driven economy.