The Federal Government announced plans to generate over $200 billion annually through space regulation and licensing, with projected yearly growth of 18–20%.
Minister of Innovation, Science and Technology, Uche Nnaji, revealed this during a stakeholder engagement on space regulation in Abuja, organized by NASRDA.
He said the initiative aims to create a competitive space industry and to ensure that companies like Starlink and DSTV are properly licensed.
Nnaji also disclosed that President Bola Tinubu has approved the use of space technology for revenue generation, especially in the oil and gas sector.
projecting an additional $20 billion annually by tracking unauthorized ship entries.
He emphasized that space is now crucial for innovation, national security, and economic growth requiring proper regulation and commercialization.
Dr Matthew Adepoju, Director-General of NASRDA, said the workshop focused on implementing the 2015 regulations under its 2010 Act.
Adepoju said the growth of the space sector makes it important to regulate and commercialize the sector to boost the economy.
