NBTI ACHIEVES FINANCIAL AUTONOMY VIA 4% SHARE OF NATIONAL DEVELOPMENT LEVY
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By: Fasasi Hammad
The National Board for Technology Incubation (NBTI), a federal agency under the Ministry of Innovation, Science and Technology, has attained financial independence with the statutory allocation of four percent of the National Development Levy, as provided under the Tax Reform Acts, 2025.
Announcing the milestone during a press briefing in Abuja on Tuesday, marking his one-year tenure, NBTI Director-General, Dr. Kolawole Raji, said the financial autonomy will significantly enhance the agency’s capacity to incubate, accelerate, and commercialize indigenous technologies, while supporting start-ups, MSMEs, and innovators nationwide.
“This is a historic moment for NBTI. For the first time in the agency’s history, we now operate on a predictable, sustainable, and independent revenue stream. It reduces our dependence on annual budgetary cycles and enables strategic long-term planning,” Raji said.
He emphasized that the agency’s mandate is to bridge the gap between research and the marketplace, foster innovation, create jobs, and drive economic diversification.
Highlighting NBTI’s expanding global reach, Raji noted that the agency has forged partnerships with governments, academic institutions, industry stakeholders, and international bodies across the UK, Canada, USA, Germany, Singapore, China, Qatar, and Azerbaijan. These collaborations provide Nigerian innovators with access to funding, mentorship, intellectual property protection, and global markets.
Dr. Raji also revealed that the NBTI NextGen Innovation Challenge has been formally adopted by the Commonwealth of Nations for rollout across all 56 member countries. The initiative, which allows Nigerian innovators to showcase their solutions internationally, will debut its first phase in Barbados and Antigua in 2026.
“The adoption of the program by the Commonwealth reflects its growing global recognition and opens pathways for cross-border collaboration, inclusive innovation, and shared knowledge,” he said.
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Raji highlighted that the 2025 edition of the program showcased over 105 Nigerian innovators on the global stage, securing $1.5 million in funding for a clean energy project, while additional innovators accessed investments ranging from $50,000 to $250,000 aligned with Technology Readiness Levels (TRLs).
He further disclosed that the program facilitated strategic engagement with the Qatar–Nigeria Business Council, unlocking Middle East markets and investment opportunities for Nigerian innovators.
“This financial independence, coupled with our expanding international collaborations, positions NBTI to lead Nigeria’s technological innovation on the global stage,” Raji concluded.
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