The Abuja Chamber of Commerce and Industry (ACCI) has urged the Nigerian government to prioritise investment in the country’s nascent space economy, citing its potential to unlock trillions of naira in revenue, attract foreign investment, and improve governance outcomes across critical sectors.
Speaking at a press briefing ahead of the Africa Space Economy Conference and Exhibition, scheduled to hold from June 17–19, 2025, in Abuja, ACCI leadership highlighted the need for stronger public-private collaboration in leveraging space-based technologies, particularly in geospatial data, satellite communications, and UAV (drone) applications.
According to the Chamber, the global space economy was valued at $546 billion in 2022, with projections indicating a 41% increase over the next five years. Nigeria, it noted, can tap into this growth trajectory by commercialising research from its national space agency and enabling local businesses to participate in the value chain.
“The value chain is wide, ranging from satellite imagery to drone manufacturing, data analytics, and secure communications,” said Al-Mujtaba Abubakar, President of ACCI. “We urge both federal and state governments to explore space technology as a viable tool for boosting internally generated revenue and solving long-standing infrastructure and security challenges.”
The ACCI is currently working in partnership with the National Space Research and Development Agency (NASRDA) to launch commercial initiatives that bring space technologies into practical use. This includes applying satellite data for land administration, agricultural planning, pipeline monitoring, and environmental management.
Dr. Halilu Shaba, Director General of NASRDA, described the collaboration as a “game-changer,” adding that frameworks are already being developed to support private sector participation. He noted that multiple packages are ready for commercial rollout and called on investors to explore new revenue models driven by satellite data and real-time surveillance systems.
One of the key objectives of the upcoming Africa Space Economy Conference is to demystify space innovation and present it as an accessible and profitable sector for African entrepreneurs and investors. The event will feature technical masterclasses, investment forums, and networking opportunities for businesses across agriculture, oil and gas, logistics, telecoms, and security.
Beyond economic benefits, the ACCI noted that space technologies could help reduce government leakages, curb infrastructure sabotage, and improve service delivery through accurate, real-time data.
“Nigeria cannot afford to remain on the sidelines of the global space economy. The opportunities for job creation, revenue expansion, and strategic advantage are immense. We must act now,” the ACCI president said.
With the total economic potential of Nigeria’s space-linked sectors estimated at ₦418.9 trillion, stakeholders say strategic investments and enabling policies could position the country as a regional leader in space commerce and innovation.
