Abuja: The Federal Government announced that it could generate over 200 billion dollars annually from space regulation and licensing, during a one-day sensitisation and stakeholders’ engagement in Abuja on the commencement of space regulation, spectrum management, and licensing in Nigeria. Chief Uche Nnaji, Minister of Innovation, Science, and Technology, emphasized the potential economic impact of this initiative.
According to News Agency of Nigeria, the workshop was organized by the National Space Research and Development Agency (NASRDA). Nnaji highlighted that the initiative aims to create a competitive space industry contributing directly to Nigeria’s economic development. The regulation will ensure companies like Starlink and DSTV are properly licensed, potentially increasing annual revenue by 18 to 20 percent.
Nnaji mentioned that President Bola Tinubu has approved the integration of space technology into revenue generation, particularly in the oil and gas sector. He explained that space technology could detect ships entering Nigerian waters, ensuring they adhere to necessary payments, potentially adding over 20 billion dollars yearly to national income.
The minister stressed that space is now central to modern economies and emphasized the importance of a regulated ecosystem for innovation and national security. The Federal Government, through the National Space Council, is working to advance the National Space Policy to align with modern space operations.
Dr. Matthew Adepoju, Director-General of NASRDA, stated the workshop’s purpose was to explore implementing 2015 regulations on space licensing and supervision. Adepoju noted the increased number of satellites and space-based assets necessitate regulation and commercialization to boost the economy.
He detailed that the regulations provide a framework for compliance with space laws, promote licensing transparency, and enhance space operation security. Adepoju believes implementing a structured licensing system will attract investments and promote space-related services commercialization.
Mr. Olisa Agbakoba, a Senior Advocate of Nigeria, discussed the need to review the National Space Policy and domesticate key international space treaties. He emphasized the importance of Nigeria capturing a share of the projected trillion-dollar global space economy by 2030.
Dr. Umar Bindir, Secretary to Adamawa State Government, advocated for the alignment of regulatory frameworks with national development agendas to promote innovation. He called for collaboration among ministries, agencies, and educational institutions to coordinate efforts in space-related activities.
The event concluded with the unveiling of NASRDA’s new logo by Mrs. Esuabana Nko-Asanye, the Permanent Secretary in the ministry.
