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| Minister of Innovation, Science and Technology, Uche Geoffrey Nnaji |
The Federal Government of Nigeria has announced plans to generate over N200 billion annually through the regulation and licensing of space activities. This initiative aims to monetize Nigeria's presence in the global space economy by ensuring that companies like Starlink and DStv pay appropriate fees for using Nigerian space resources.
Minister of Innovation, Science and Technology, Uche Geoffrey Nnaji, revealed this during a stakeholders' engagement workshop organized by the National Space Research and Development Agency (NASRDA) in Abuja.
The new regulatory framework is expected to enhance service delivery, national security, and accountability in the space sector, with projected annual growth of 18 to 20 percent.
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The National Space Council, chaired by President Bola Tinubu, has approved the integration of space technology into national revenue generation strategies, particularly for applications like oil pipeline surveillance and maritime monitoring. This technology can help detect ships evading bunker fees, potentially generating over $20 billion in revenue annually.
The move is part of a broader effort to build a competitive and regulated space industry that contributes to Nigeria's economic development and technological leadership.
The NASRDA has been granted N20 billion to implement these regulations, although the funds have not yet been accessed. The agency is set to commence licensing and regulation of space operations, ensuring compliance with national and international space laws.
