NBTI Unveils Proposed Solar Scheme for One Million Small Businesses

The National Board for Technology Incubation has unveiled a proposed solar-energy programme aimed at one million micro and small businesses across Nigeria. The plan is part of an investment pipeline exceeding $600 million. It includes a proposed $500 million solar programme for universities and polytechnics, alongside a $100 million financing opportunity linked to the Tinubu Light Initiative. NBTI says the initiative could help businesses such as tailors, barbers, pharmacies, food vendors, retailers and digital-service providers reduce spending on petrol and diesel generators. The first phase is expected to attract ₦30 billion in blended financing, subject to funding and implementation arrangements. The board also said the programme could support 50,000 direct youth jobs, train 10,000 field marketers and improve access to formal financial services for informal businesses.

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