By Ijeoma Olorunfemi
Prof. Matthew Adepoju, Director-General, National Space Research and Development Agency (NASRDA), has urged Nigerian investors to tap into the vast opportunities in the space economy.
Adepoju said this in Abuja during an interview with the News Agency of Nigeria (NAN).
He spoke against the background of the upcoming African Space Economy Innovation and Communication Conference which is scheduled to hold in November.
The conference will be held under the theme: “Harnessing Space Economy, Driving Innovation, Connecting Africa’s Future.”
Adepoju said the conference would showcase investment opportunities, indigenous technologies and innovations capable of addressing some of Africa’s development challenges.
He said the conference, slated for Nov. 24 to Nov. 27, would build on the successes of previous space economy conferences.
He said such engagements had resulted in bilateral agreements, partnerships and increased participation of Nigerian companies in the space sector.
According to him, engagements from previous conferences contributed to ongoing initiatives, including the development of new satellites and plans to establish an Assembly, Integration and Testing Laboratory (AITL).
“From those engagements, we have had partners who signed agreements with us and who are working with us behind the scenes to make sure that we attain the height where we are today,” he said.
He told NAN that the previous conferences had also exposed Nigerian companies to opportunities in the space sector, resulting in more local firms showing interest and coming on board.
Adepoju described the space economy as one of the fastest-growing sectors globally and urged Nigerian investors, particularly billionaires, to invest in the sector.
“Do not be afraid of the space sector at all. There is so much money to make in business in this sector,” he said.
On the expected returns on investment, he said the sector offered both short-term opportunities and long-term investments, identifying satellite development as one of the low-hanging fruits.
He said Nigeria could also benefit from developing indigenous satellite-based services, noting that navigation and other data used by airlines and operators in the blue economy were currently sourced from outside the country.
According to him, the development of such services locally could unlock significant economic opportunities for Nigeria.
Adepoju said engineers from the agency, in collaboration with technical partners, during the conference would demonstrate a platform designed to address some of the country’s developmental challenges
Adepoju further said that several other technologies and innovations developed by Nigerian engineers and scientists would be demonstrated and exhibited at the conference.
He urged investors to attend the conference, explore opportunities in the space economy and consider partnerships capable of generating economic value while contributing to national development. (NAN)
Edited by Uche Anunne
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