The Federal Government on Tuesday in Abuja said it could generate over 200 billion dollars 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 News Agency of Nigeria (NAN) reports that 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.

He added that space was no longer an exclusive domain of dreamers but for innovation and national security through satellites for communications, remote sensing, navigation and data systems.

According to him, space is now central to modern economies.

“Our task is to ensure a clear regulated ecosystem where both public and private players can thrive and a space sector that drives innovation, attracts investments and delivers real impact for our people,” he said.

Nnaji said the Federal Government, through the National Space Council, consisting of 15 members was working and pushing the National Space policy to include relevant areas as obtainable in modern space operations.

Director-General of NASRDA, Dr Matthew Adepoju, said the workshop was designed to find ways for the implementation of the 2015 regulations on licensing and supervision of space as enshrined in the agency’s Act of 2010.

Adepoju said that with the recent growth of the space sector that had seen increased number of satellites and more space-based assets, it was important for the sector to be regulated, commercialised to boost the economy.

“These regulations provide a comprehensive framework, ensures compliance with national and international space laws, promotes transparency in licensing processes,enhances security and safety in space operations.

“Space licensing and regulation can serve as a revenue-generating avenue for the Nigerian government,”Adepoju said.

He also said that by implementing a structured licensing system, the agency would ensure proper fees and charges for satellite launches, spectrum management, and data services in the country.

According to him, it will promote the commercialisation of space-related services, and attract local and foreign investments into Nigeria’s space industry.

A Senior Advocate of Nigeria, Mr Olisa Agbakoba, while speaking on Space Regulation and Spectrum Management, said there was need to review the National Space Policy that was produced in 2000.

Agbakoba also said Nigeria needed to domesticate the key international space treaties that were ratified but were yet to be incorporated into the policy.

He recalled that global space economy had been projected to be one trillion dollars by 2030, adding that was paramount that Nigeria was left out of the windfall.

“We can capture a huge chunk of the market, but we need to have the right regulatory, legal and institutional frameworks in place right now.

“There are four or five important treaties that we need to domesticate because you may ratify, but if it is not passed by the National Assembly, it is not law.

“There is the Outer Space Treaty 1967 and we ratified it in 1967, Rescue Agreement, the Liability Convention and the Registration Convention of 1974 and the Moon Agreement,” he said.

The legal practitioner also called for the strengthening of the National Space Council, adding that implementation of the policy could be difficult without a viable council.

Secretary to Adamawa State Government, Dr Umar Bindir, while speaking on the imperative of space regulation in Nigeria, called for harmonised translation of scientific knowledge to practical solutions.

Bindir also said that regulatory frameworks should align with national development agendas thereby promoting innovation.

“We need to analyse all the historical and overlapping groups, particularly ministries, agencies and also the database of universities, polytechnic, college of educations.

“This will enable for filtering of their mandates for space related activities to co-ordinate efforts.

“You need to have a strategy for intense,proper promotion of space technology like having exhibitions every six months,” he said.

The highlight of the event were the unveiling of NASRDA’s new logo by Mrs Esuabana Nko-Asanye, the Permanent Secretary in the ministry.

There was also the delivery of studio equipment for Nigerian Science Technology and Innovation Television domiciled in NASRDA.(NAN)