Nigeria aims to generate N200 billion annually from space, see how

DDM News

The Federal Government has announced that Nigeria could earn more than N200 billion annually from space regulation.

Diaspora digital media (DDM) gathered that this new revenue will be generated through licensing and regulation of the country’s expanding space sector.

The initiative is part of the government’s comprehensive framework aimed at monetising Nigeria’s role in the global space economy.

Uche Geoffrey Nnaji, Minister of Innovation, Science, and Technology, disclosed this in Abuja on Tuesday.

Nnaji spoke at a stakeholders’ engagement and sensitisation workshop on space regulation, spectrum management, and licensing.

The event was organised by the National Space Research and Development Agency (NASRDA).

During the workshop, a new NASRDA logo was unveiled by Esuabana Asanye, the Permanent Secretary of the ministry.

Nnaji explained that the new framework would increase national revenue and improve service delivery in the space sector.

He added that it would also boost national security and ensure greater accountability from space-based operators.

The minister pointed out that companies like Starlink and DStv have been underpaying for their services in Nigeria.

“We are working to ensure these companies contribute more to the national economy,” Nnaji said.

He mentioned that many satellite service providers had been paying far below the market value for their operations.

The government’s new regulatory approach would fix this imbalance by requiring fair payments for the services offered.

The projected annual revenue of over N200 billion is expected to grow by 18 to 20 percent annually.

This framework will unlock revenues from existing operators and open new opportunities in space-based commercial activities.

The minister stressed that these efforts are in line with the national space policy, which is being actively pursued.

Nnaji emphasized that the focus is on ensuring that the country benefits fully from the growing space economy.

The new framework will also streamline the way Nigeria manages its space resources and technological advancements.

In addition to generating revenue, space-based monitoring technologies will help curb illegal bunkering and maritime violations.

“We can track vessels evading bunker fees by using satellite monitoring,” said Nnaji.

He further explained that the government could recover billions lost to illegal activities with the help of satellite systems.

The minister also highlighted the need for transparency and fair service delivery from satellite operators in Nigeria.

The National Space Council, led by President Bola Ahmed Tinubu and Vice President Kashim Shettima, supports the initiative.

This new focus aims to integrate space technology into broader national strategies for revenue generation.

Nnaji also pointed out that satellite bandwidth has been under-utilised by some providers, affecting Nigerian consumers.

By addressing these inefficiencies, Nigeria plans to improve the quality of space-based services available to the public.

The proposed changes reflect a wider effort to ensure that Nigeria becomes a key player in the global space economy.

NASRDA, established in 1999, has been instrumental in Nigeria’s space ambitions, launching several successful satellites.

Despite these advancements, the monetisation of space technologies has been underexplored until now.

The new framework could transform Nigeria into a major hub for space regulation and economic growth in Africa.

With global interest in space technology growing, Nigeria is poised to take advantage of emerging commercial opportunities.

The workshop in Abuja signifies the government’s commitment to using space technology for economic development.

If successful, Nigeria could see its space sector contribute significantly to its non-oil revenues in the coming years.

This strategic shift could also create new job opportunities and drive innovation in Nigeria’s tech industry.

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