Invest in the Cosmos: Nigeria’s Billion-Dollar Space Market Beckons

“Africa has a critical role in this transformation, and by embracing space technologies, we can enhance weather forecasting, resource management, healthcare delivery, and digital connectivity, delivering real benefits to communities across the continent.

“To achieve this, collaboration is essential because no single nation can unlock the full potential of the space economy alone. 

“We must strengthen public-private partnerships, international alliances, and regional cooperation to share knowledge, develop infrastructure, and build collective capacity,” Nnaji said.

According to the minister, Africa must invest in talent, foster innovation, and adopt bold policies. 

Chief Emeka Obegol, the President of ACCI, said that the Nigerian space ecosystem could contribute about one billion dollars to the Gross Domestic Product (GDP) by the late 2020s.

Obegolu stated that the private sector would be seen contributing 700 to 800 million dollars of that contribution.

“By 2035, projections show that the broader business ecosystem in Nigeria could benefit from an annual value of up to 15 to 25 billion dollars, cutting across critical sectors.

“These are not distant dreams, they are within reach if we continue to mobilise strategic public-private partnerships, attract domestic and foreign direct investment, and create a business-friendly environment that nurtures innovation,” he said.

The president added that space-based technologies were already improving agricultural productivity, enhancing national security and disaster response, expanding broadband penetration, and capacity building.

He added that the ACCI was championing the mobilisation of investments into space-tech enterprises, supporting Research and Development, innovation, and digital infrastructure development.

Dr Matthew Adepoju, Director-General of NASRDA, said that the space economy was about the commercialisation of space, transforming research findings and innovations into market-ready products and services.

Adepoju said it included the development of satellites, launch vehicles, Earth observation tools, and space-based applications that drove different sectors of the economy.

“There is growing investment in satellite technologies, new space research centres, and stronger collaboration between government institutions and emerging private actors.

“Regional organisations such as the African Union and national agencies are showing increased commitment to space-based solutions that drive socio-economic growth and resilience,” he said.

He added that NASRDA was engaging new business models to support sustainable space sector growth, like their Ground Station-As-A-Service(GSaaS), which allowed satellite operators to access their ground station infrastructure without massive capital investments.

“By offering satellite communication and data downlink services on-demand, GSaaS lowers the barriers to entry for industries ranging from telecommunications to Earth Observations, environmental monitoring, and scientific research.

“This initiative not only strengthens Nigeria’s leadership in space but also contributes to the commercialisation of space, opening up new revenue streams while expanding access to satellite technologies across the continent.

Dr Kyari Mohammed, representative of Dr Ahmed Hamdy, Executive Director of the African Union Scientific Technical Research Commission (AUSTRC), said that Africa needed to collaborate for strategic autonomy and sovereignty, climate resilience, and disaster management.

He said that Africa should collaborate for digital infrastructure connectivity and youth engagement in Science, Technology, Engineering, and Mathematics (STEM).

Mohammed called for the integration of space into national development plans, creating local ecosystems for innovation, supporting youths and women in space science, and strengthening collaboration across the continent.

Some private sector organisations also called for strong collaboration to build a resilient space ecosystem in Africa. ( NAN)