The federal government has announced it is targeting to generate over $20bn annual revenue from Nigeria’s evolving space economy, leveraging on a newly launched space security platform and comprehensive regulatory reforms.
Speaking at the launch event in Abuja on Tuesday, Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji, unveiled the government’s strategic plans to capitalise on space technologies for national revenue generation, particularly in key sectors like oil monitoring and maritime surveillance.
“With space-based surveillance, we can detect vessels entering Nigerian waters—even those that switch off their transponders to evade detection. We’ll be able to track them, ensure compliance and collect the appropriate fees. This initiative alone could yield over $20 billion annually,” Nnaji said.
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The minister stated that Nigeria’s space economy is no longer a futuristic dream but a present-day economic lever.
“Space is no longer the domain of dreamers alone—it is now the frontier of serious business, innovation, and national security,” he said.
“Our task is clear: to establish a transparent, well-regulated ecosystem where public and private actors—from startups to established institutions—can thrive,” he added.
The new space security platform is tied to the enforcement of Nigeria’s 2015 Regulations on the Licensing and Supervision of Space Activities.
Section 4(1), mandates that no one “Shall carry out activities to which the Regulations apply except under the authority of a license granted by the National Space Council.”
These regulations aim to hold local and foreign operators—such as Starlink and DSTV—accountable under Nigerian law.
“Currently, some pay appropriate fees, while others contribute minimally, shortchanging Nigerians. This new regulatory framework will address that imbalance,” Nnaji stated.
Director General of the National Space Research and Development Agency (NASRDA), Dr. Matthew Adepoju, echoed the minister’s sentiments, highlighting the economic, security, and youth empowerment potential of the sector.
“Nigeria must remain a forward-thinking nation. We must ensure that space activities within our jurisdiction are properly regulated, commercially optimized, and aligned with international best practices,” Adepoju said.
According to NASRDA, Nigeria can generate about N200bn annually from space-related activities, with potential growth rates of 18–20 per cent per year.
The workshop, which gathered key stakeholders from government, academia, and the private sector, marked a pivotal shift in Nigeria’s approach to space as a tool for development.
It also underscores the urgency to reform existing legal frameworks.
Legal expert Dr. Olisa Agbakoba, who also spoke at the event, criticised Nigeria’s outdated space laws.
“Our current laws are outdated. The NASRDA Act is not a true space law. We need a clear economic strategy for space, legal reform, and an updated National Space Policy,” he said.
Agbakoba proposed creating a Centre for Space Law and emphasised that space should contribute at least 2% to Nigeria’s GDP.
“Let’s learn from countries like the UAE. Why not aim for Nigerian astronauts—male and female?” he asked.
The Permanent Secretary of the ministry, Mrs. Esuabana Asanye, while unveiling the new NASRDA logo, positioned the current phase as a new era in Nigeria’s space journey: “We are now turning the page from the first 25 years, and ushering in a new era—one that will redefine Nigeria’s presence in space.”
Meanwhile, Dr. Umar Bindir stressed the importance of connecting research to industry, saying, “Nigeria’s failure isn’t a lack of knowledge or resources, but a disconnect between research, policy and industry.”
