The President of the Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, SAN, has announced that Nigeria and other African countries are positioning themselves to harness the vast economic opportunities in the space sector.
Speaking ahead of the Africa Space Economy Conference and Exhibition, Obegolu emphasized the continent's readiness to become a significant player in the global space economy, which has seen tremendous growth in recent years.
"Africa is ready to take its rightful place in the space economy. With our young, tech-savvy population and growing innovation hubs, we have the human capital needed to drive this sector forward," the ACCI President stated.
The space economy encompasses various sectors including satellite communications, earth observation, space tourism, and asteroid mining. For Nigeria, participation in this growing industry could translate to improved telecommunications, better weather forecasting, enhanced security monitoring, and new job opportunities.
The upcoming Africa Space Economy Conference and Exhibition is expected to bring together stakeholders from across the continent and beyond to discuss collaboration opportunities, investment prospects, and policy frameworks needed to support Africa's space ambitions.
Industry experts note that Nigeria, which established the National Space Research and Development Agency (NASRDA) in 1999, has already made significant strides in space technology with several satellites in orbit.
The conference comes at a time when global space economy valuation has surpassed $400 billion, with projections suggesting it could reach $1 trillion by 2040, according to industry reports.
Further details about the conference date, venue, and registration process are expected to be announced in the coming weeks.
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