Federal Government unveils initiative to power one million MSMEs with renewable energy

Unveiled by the National Board for Technology Incubation NBTI during the National Showcase of the NextGen Innovation Challenge 2026 in Abuja, the initiative seeks to reduce production costs, create jobs, and accelerate industrial growth. Dr. Kazeem Raji, Director-General and Chief Executive Officer of NBTI, stated that the program is expected to create over 50,000 direct jobs, promote clean energy adoption, strengthen local manufacturing, and enhance the competitiveness of Nigerian businesses. The initiative addresses high energy costs and reliance on fossil fuel generators, aligning with President Bola Tinubu’s Renewed Hope Agenda.

It also aims to encourage local assembly of renewable energy equipment, reduce carbon emissions, foster financial inclusion through digital platforms, and expand economic opportunities for women and young entrepreneurs. Raji emphasized that the initiative is an industrial policy, an employment strategy, a poverty reduction program, a climate action initiative, and a national productivity agenda. He also highlighted the success of the NextGen Innovation Challenge, which has grown into a national platform connecting innovators with investors and supporting the commercialization of indigenous technologies, with plans for expansion into a Commonwealth