The Federal Government said over 200 billion dollars can be generated annually from space regulation and licensing.
Minister of Innovation, Science and Technology, Chief Uche Nnaji, said this at a one-day sensitisation and stakeholders engagement on the commencement of space regulation, spectrum management and licensing in Nigeria.
The workshop was organised by the National Space Research and Development Agency (NASRDA).
Nnaji said the workshop was a bold step towards building a fair competitive space industry that could contribute directly to Nigeria’s economic development and technological leadership.
“With this space regulation and licensing, companies such as Starlink, including DSTV who pay peanuts for using space products and short-changing Nigerians will be regulated and licenced.
“You can be assured that yearly, following the laid down strategies, we will be looking at realising over 200 billion dollars annually with increment yearly of 18 to 20 per cent,” Nnaji said.
He said that President Bola Tinubu had also approved the mainstreaming of space technology in revenue generation, especially in the oil and gas sector.
“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, and then head out, space technology can detect their entry for necessary payments.
“So we are looking at over 20 billion dollars yearly income through that and that is part of the many reforms that is coming under this regulation,” the minister said.
“The country receives the desired attention. It seems the focus of the Nigerian Army and the Ministry of Defence is not on the northeast.”