The Federal Government has announced that Nigeria has the potential to generate over N200 billion annually through space regulation and licensing, as it launches a comprehensive framework aimed at capitalizing on the country’s position in the global space economy.Uche Geoffrey Nnaji, the Minister of Innovation, Science and Technology, revealed this information during a stakeholder engagement session in Abuja on Tuesday.
The event focused on the introduction of space regulation, spectrum management, and licensing in Nigeria, organized by the National Space Research and Development Agency (NASRDA).
During the workshop, the permanent secretary of the Federal Ministry of Innovation, Science and Technology, Esuabana Asanye, unveiled a new logo for the agency.
The Minister projected that this annual revenue could grow by 18 to 20 percent, emphasizing that the new regulatory framework will not only enhance revenue collection from current operators such as Starlink and DStv but will also improve service delivery, national security, and accountability in the space sector. Nnaji stated, “We are vigorously pursuing the national space policy to ensure it addresses what is relevant in today’s space economy. Starlink and other operators, including DStv, may come here, but some pay minimal fees that shortchange Nigerians. Our space regulation and licensing efforts aim to tackle this issue.
As highlighted by my capable Director General at NASRDA, we are looking at an annual revenue exceeding N200 billion, with an expected yearly increase of 18 to 20 percent, which is just one aspect of NASRDA’s potential.
He also mentioned that the National Space Council, led by President Bola Ahmed Tinubu and co-chaired by Vice President Kashim Shettima, has endorsed the integration of space technology into national revenue-generating strategies.
This includes monitoring applications for oil pipeline surveillance and maritime oversight.According to Nnaji, space-based monitoring can effectively address illegal bunkering and unregulated vessel activities along Nigeria’s coast, with the potential to generate over $20 billion in revenue. “With satellite monitoring, we can identify ships that turn off their ignition to evade bunker fees.
Once we detect them, we can pinpoint their location and collect those fees, thereby saving billions currently lost on human surveillance and security contracts,” he explained.
The minister also criticized some satellite service providers for underutilizing bandwidth, which negatively impacts Nigerian consumers.
PROF’LEE9JA⛱️ MEDIA
Follow 👣our WhatsApp Channel to get the 🔔 latest of news delivered at ur door 🚪⬇https://whatsapp.com/channel/0029VazTO6AFnSzIbWYJjO1K
Telegram Channel
