FG targets one million MSMEs with renewable energy scheme

The Federal Government has launched a nationwide renewable energy programme targeted at one million Micro, Small and Medium Enterprises (MSMEs), in a fresh push to lower energy costs, stimulate industrial growth, strengthen local manufacturing and create more than 50,000 jobs.

The initiative, known as the Tinubu Light Initiative, was unveiled on Thursday by the National Board for Technology Incubation (NBTI) during the National Showcase of the NextGen Innovation Challenge 2026 in Abuja.

The programme comes as businesses continue to grapple with rising electricity tariffs, unreliable public power supply and escalating diesel and petrol costs, forcing many manufacturers and small enterprises to depend heavily on self-generated electricity.

Director-General and Chief Executive Officer of NBTI, Dr Kazeem Raji, said the initiative would deploy renewable energy technologies, innovative financing models and strategic partnerships to provide affordable electricity solutions for one million MSMEs across the country.

According to him, reducing energy costs would enable businesses to expand production, improve productivity, create jobs and enhance the competitiveness of locally manufactured products.

Raji said the initiative would also deepen local value addition by encouraging the assembly and production of renewable energy equipment in Nigeria while supporting the country’s clean energy transition.

He noted that the programme would promote financial inclusion through digital financing platforms, reduce carbon emissions and create greater economic opportunities for women- and youth-owned enterprises.

Describing the initiative as a broader economic transformation strategy rather than simply an electrification programme, Raji said it combines industrial development, employment generation, poverty reduction and climate action into a single intervention.

He added that the programme aligns with President Bola Tinubu’s Renewed Hope Agenda, which seeks to position innovation, technology and entrepreneurship as key drivers of sustainable economic growth.

Raji also highlighted the growing impact of the NextGen Innovation Challenge, disclosing that the 2026 edition attracted thousands of applications from innovators in renewable energy, artificial intelligence, biotechnology, agriculture, healthcare, manufacturing, education, financial technology, climate technology and industrial engineering.

He said the competition has evolved into a national innovation platform connecting inventors with investors while accelerating the commercialisation of indigenous technologies.

According to him, one participant from the inaugural 2025 edition secured a £1.5 million investment commitment, while several agricultural innovations developed through the programme are already improving productivity and reducing post-harvest losses in Kaduna, Bauchi and other states.

Raji further announced that the Commonwealth Secretariat has endorsed the NextGen Innovation Challenge, paving the way for its expansion into a Commonwealth-wide innovation programme involving all 56 member countries.