Nigeria’s $1trn Economy Depends On Homegrown Innovation, Market Access – NBTI DG

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By Michael Ajayi

The Director-General, National Board for Technology Incubation (NBTI), Dr Kazeem Raji, says Nigeria’s goal of constructing a 1-trillion-dollar economic system depends on commercialising indigenous analysis and driving native enterprises into international markets.

Raji acknowledged this in an announcement made accessible to newsmen on Friday in Abuja.

He spoke whereas detailing the end result of the 2026 NextGen Innovation Challenge grand finale in London, the place 298 Nigerian innovators from the 36 states and the FCT had been showcased to international buyers.

According to him, sustainable nationwide prosperity can’t be achieved by way of authorities expenditure or pure sources alone, however by way of personal enterprise, expertise export, and mental property creation.

“A one-trillion-dollar economy cannot be built by government alone.

“It must be built by Nigerians who innovate, manufacture, invest, create intellectual property, build enterprises, and compete successfully in global markets,” Raji mentioned.

He mentioned that the variety of taking part native innovators expanded from 105 within the earlier version to 298 in 2026, reflecting a rising push to maneuver indigenous analysis from prototypes to marketable enterprises.

He added that the last word benchmark of the showcase can be measured by the investments secured, companies established, and jobs created for younger Nigerians.

Also, Nigeria’s High Commissioner to the United Kingdom, Amb. Aminu Dalhatu, represented by Amb. Abu Eche, famous that trendy diplomacy should actively join native researchers with international capital.

Dalhatu counseled the partnership between NBTI and UK Africa Leadership and Development (UKALD), proposing the extension of the NextGen platform to different Commonwealth nations to widen market entry for Nigerian startups.

“Diplomacy today must go beyond governments speaking to governments; it must connect businesses to markets, innovators to investors, and Nigerian opportunities to global capital,” he mentioned.

Dr Mukhtar Muhammad, Permanent Secretary, Federal Ministry of Innovation, Science and Technology, pledged expanded Ministry backing, proposing that state governments set up localised screening frameworks to feed into future international showcases.

“If you identify a problem in society and develop a workable solution, you are making a greater impact than someone pursuing multiple academic degrees without commercial output,” Muhammad mentioned.

In his remarks, Hon. Tunde Doherty, the Executive Director of UKALD and Chairman of the All Progressives Congress (APC) within the UK, urged overseas buyers to view Nigeria as an rising expertise hub with ready-to-scale merchandise.

Also, Ms Erin Grover, a world investor, counseled the standard of the showcases, expressing intent to fund female-led startups taking part within the exhibition.(NAN)

Edited by Funmilayo Adeyemi