Nigeria is seeking more than $1 billion in investment to expand its space industry as African leaders push for greater technological sovereignty, stronger control of space resources and reduced dependence on foreign satellite capabilities.
Kingsley Tochukwu Udeh, minister of Innovation, Science and Technology of the Federal Republic of Nigeria, who represented Bola Ahmed Tinubu, the president of Nigeria, disclosed the investment potential to BusinessDay, at the International Space Summit in Paris, where he said Nigeria was seeking global investors and strategic partners to expand its space capabilities.
Udeh said Nigeria’s space industry could absorb more than $1 billion in investment, stressing that the funding would not have to come from government alone. “Space industry in Nigeria can absorb over a billion US dollars. It does not mean that this investment would have to be made by government alone,” the minister asserted.
He said the government was using the Paris summit to engage private-sector investors, governments and technology companies interested in Africa’s space market, with potential partners already showing interest from India, China, France and the United States. The minister said Nigeria wanted to move beyond depending on foreign technologies and instead build capabilities that could generate commercial returns while improving security, livelihoods and other parts of the economy that increasingly depend on space services.
“We shouldn’t be doing catch-up. We should be part of those leading in this very important aspect of development,” he said. The investment push comes as the Federal Executive Council has approved a programme for six new satellites, comprising two communications satellites and four Earth-observation satellites, according to the minister.
The government has also approved the Centre for Space Transport and Propulsion (CSTP), which Udeh said would support an end-to-end programme covering research, development and the launch of Nigerian-built rockets.