Nigeria Eyes $200 Billion Windfall from Regulated Space Industry

Nigeria may soon tap into a multi-billion-dollar opportunity by regulating and licensing its space industry, with projections pointing to over $200 billion in annual revenue. The Federal Government made this bold announcement during a recent workshop held in Abuja.

Speaking at the event, Minister of Innovation, Science and Technology, Chief Uche Nnaji, revealed that companies like Starlink and DSTV—currently benefiting from Nigeria’s space infrastructure with minimal compensation—would soon be subjected to proper regulation. “You can be assured that yearly, following the laid down strategies, we will be looking at realising over 200 billion dollars annually with an increment yearly of 18 to 20 per cent,” Nnaji said.

The one-day stakeholder engagement workshop, hosted by the National Space Research and Development Agency (NASRDA), focused on space regulation, spectrum management, and licensing. It marks a crucial step toward establishing a competitive and economically viable space sector in Nigeria

Oil Sector Set for $20 Billion Boost

The minister also noted that space technology will play a key role in securing revenue from the oil and gas industry. According to Nnaji, President Bola Tinubu has approved the integration of space tools into revenue collection—particularly from marine traffic entering Nigerian waters.

“This will ensure that any ship coming into this country, even when they switch off their ignition and glide in without paying bunker fees and other payments… space technology can detect their entry for necessary payments,” he explained. This strategy, he added, could generate an additional $20 billion annually.

Nnaji highlighted that space is no longer the realm of dreamers. Instead, Nigeria aims to build a well-regulated ecosystem that empowers both public and private sectors. “Our task is to ensure a clear, regulated ecosystem… that drives innovation, attracts investments, and delivers real impact for our people,” he said.

NASRDA Pushes Licensing Framework

Dr Matthew Adepoju, NASRDA’s Director-General, stated that the workshop aimed to implement the agency’s 2015 licensing regulations, grounded in its 2010 Act. “These regulations provide a comprehensive framework, ensure compliance with national and international space laws, promote transparency in licensing processes, and enhance security and safety in space operations,” Adepoju said.

He added that proper licensing of space activities could become a major revenue stream. By regulating satellite launches, spectrum use, and data services, Nigeria hopes to attract both domestic and international investors.

Olisa Agbakoba, a Senior Nigerian advocate, called for an update of Nigeria’s outdated National Space Policy, first drafted in 2000. He urged the domestication of key treaties like the 1967 Outer Space Treaty and the 1974 Liability Convention—both ratified by Nigeria but yet to be enacted by law. According to Agbakoba, the global space market will reach $1 trillion by 2030, and Nigeria must prepare to claim its share.

Dr Umar Bindir, Secretary to the Adamawa State Government, pushed for tighter coordination among institutions, saying this would strengthen national innovation efforts. “We need to analyse all the historical and overlapping groups, particularly ministries, agencies… to coordinate efforts,” he noted. He also recommended biannual exhibitions to promote awareness and inspire public interest in space innovation.

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