The National Board for Technology Incubation, NBTI, a Federal Government agency under the Ministry of Innovation, Science and Technology, has secured financial autonomy with the allocation of four percent of the National Development Levy to the agency, under the Tax Reform Acts, 2025.
Director General of NBTI, Dr Kolawole Raji, disclosed this in Abuja on Tuesday at a press briefing held to mark his one year in office.
He assured that financial independence would boost the performance of the agency, which is charged with the mandate of incubating, accelerating, and commercialising indigenous technologies, among other responsibilities.
Raji noted that the development would reduce dependence on budgetary cycles, and encourage long term planning.
“Without question, the most historic achievement of this first year is the statutory allocation of four percent (4%) of the National Development Levy to NBTI, secured under the Tax Reform Acts 2025. This is a watershed moment.
“For the first time in NBTI’s history, the agency is backed by a predictable, sustainable, and independent revenue framework, reducing dependence on annual budgetary cycles and enabling long-term strategic planning.
“This single policy outcome permanently redefines NBTI’s institutional strength and relevance,” Raji said.
Stressing that “NBTI exists to ensure that Nigerian ideas solve Nigerian problems – and compete globally,” Raji noted that the agency’s core mandate includes bridging the historic gap between research and the marketplace, supporting start-ups, MSMEs, and innovators with infrastructure, capacity, and funding access, and driving job creation, wealth generation, and economic diversification.
In the same vein, he added that the agency, in a bid to create more opportunities for Nigerian innovators, has forged partnerships across government, academia, industry, and the international community.
“These partnerships — spanning the United Kingdom, Canada, USA, Germany, Singapore, China, Qatar, Azerbaijan, and multilateral platforms — have opened pathways for funding, mentorship, intellectual property protection, and global market access. Innovation is no longer confined to ideas; it is deliberately prepared for scale and impact,” Raji stated.
He disclosed that the Commonwealth of Nations has adopted the NBTI NextGen Innovation Challenge for rollout across 56 member countries.
The NBTI NextGen Innovation Challenge is a program in which aspiring Nigerian innovators showcase their products, and the best innovations are selected as winners.
Speaking on the adoption of the program by the Commonwealth, Raji said, “In a landmark development reflecting the growing global credibility of the programme, the Commonwealth of Nations has formally adopted the NextGen Innovation Challenge for rollout across all 56 member countries, with multiple international funding partners preparing to come on board.
“Building on the demonstrated success of the initiative, the Commonwealth Nations Innovation Challenge will officially debut in Barbados and Antigua in 2026, marking the first implementation phase of what is set to become one of the most expansive multinational innovation programmes within the Commonwealth ecosystem.
This inaugural Caribbean edition represents a strategic expansion beyond Africa, reinforcing South–South collaboration, cross-border knowledge exchange, and shared innovation frameworks among developing and developed Commonwealth economies.
“It also reflects a deliberate shift toward inclusive innovation—one that recognises talent and solutions emerging from diverse regions rather than a single innovation centre.”
Highlighting some of the results from the 2025 edition of the NBTI NextGen Innovation Challenge, Raji disclosed that over 105 Nigerian innovators were showcased on the global stage, through which a $1.5 million funding was secured for a clean energy solution. In addition, he added that multiple innovators progressed through structured funding pipelines, securing investments ranging from $50,000 to $250,000 aligned with Technology Readiness Levels, TRLs.
Raji added that the 2025 edition of the program led to strategic engagement with the Qatar–Nigeria Business Council, thereby opening the Middle East market and investment channels to Nigerian innovators.
Tax reforms: NBTI secures financial autonomy with 4% National Development Levy allocation
