Abuja:Prof. Matthew Adepoju, Director-General of the National Space Research and Development Agency (NASRDA), has called on Nigerian investors to explore the vast opportunities within the space economy.
According to News Agency of Nigeria, Adepoju highlighted the potential of the space sector during an interview, emphasizing the upcoming African Space Economy Innovation and Communication Conference scheduled for November. The event, themed ‘Harnessing Space Economy, Driving Innovation, Connecting Africa’s Future,’ aims to showcase investment opportunities and indigenous technologies that can address Africa’s development challenges.
The conference, set for November 24 to 27, will build on the accomplishments of previous space economy conferences, which have led to bilateral agreements and increased participation from Nigerian companies in the space sector. Previous engagements have contributed to initiatives such as the development of new satellites and plans to establish an Assembly, Integration, and Testing Laboratory (AITL).
Adepoju pointed out that past conferences have exposed Nigerian companies to numerous opportunities in the space sector, resulting in greater interest and involvement from local firms. He described the space economy as one of the fastest-growing sectors globally and urged Nigerian investors, particularly billionaires, to invest in it, noting the potential for significant financial returns.
He identified satellite development as a promising area for both short-term and long-term investments. Developing indigenous satellite-based services could yield substantial economic benefits for Nigeria, as current navigation and data services are sourced externally.
During the conference, engineers from NASRDA, in collaboration with technical partners, will demonstrate a platform aimed at addressing some of Nigeria’s developmental challenges. Additionally, several technologies and innovations developed by Nigerian engineers and scientists will be showcased.
Adepoju encouraged investors to attend the conference, explore the opportunities available in the space economy, and consider partnerships that could generate economic value while contributing to national development.