The Minister of Innovation, Science and Technology, Uche Geoffrey Nnaji yesterday said that the government plans is to generate $20billion annually from the Nigeria space economy by leveraging on the newly launched space security platform and comprehensive regulatory reforms.
The minister disclosed this at the launch of National Space Research and Development Agency Stakeholders Workshop 2025 and the sensitisation and engagement of stakeholders on commencement of space regulations, spectrum management and licensing in Abuja.
The minister also unveiled the government’s strategic plans to capitalize on space technologies for national revenue generation, particularly in key sectors like oil monitoring and maritime surveillance.
He said: “With space-based surveillance, Nigeria can detect vessels entering Nigerian waters—even those that switch off their transponders to evade detection will be tracked, it will also ensure compliance and collect the appropriate fees.
“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. Our task is clear, to establish a transparent, well-regulated ecosystem where public and private actors from startups to established institutions can thrive.”
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.
He added that Nigeria must remain a forward-thinking nation and must ensure that space activities within the nation’s jurisdiction are properly regulated, commercially optimized, and aligned with international best practices. Nigeria can generate about $20billion 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, marks a pivotal shift in Nigeria’s approach to space as a tool for development. Nation