The Honourable Minister of Innovation, Science and Technology, Dr. Kingsley Udeh, has described the space economy as the bedrock of global economic activities, stressing its strategic importance in driving innovation, investment and sustainable economic growth across Africa.
The Minister made this assertion during a ministerial press briefing on the forthcoming Africa Space Economy, Innovation and Communication Conference (ASEICC 2026), held at the Ministry’s Headquarters in Abuja.
Dr. Udeh noted that despite the challenges confronting Africa’s space sector, the continent has recorded remarkable progress, calling on African space institutions to take advantage of the 25 billion US dollar space industry of Africa to accelerate growth and unlock Africa’s space economy immense potential.
He explained that ASEICC 2026 would provide a strategic platform and veritable opportunity for start-iOS and private companies within Africa to showcase, products as well as network and attract investors into their initiatives thereby expanding Africa’s economic base.
Commending the National Space Research and Development Agency (NASRDA) for hosting the conference and its leadership role in advancing space science and technology across the continent, the Minister expressed optimism that the conference will yield positive results that will drive Africa’s Space Economy’s future.
Speaking on the the Federal Government’s satellite development programme, Dr. Udeh disclosed that the government, under the leadership of President Bola Ahmed Tinubu, has commenced the procurement process for the proposed launch of four new satellites.
He added that the satellites will be of immense benefit to Nigeria and Africa adding that the impact of the four satellites on the Space economy will be huge and as it will spur key players in the space industry within Africa to look beyond awarding contracts for manufacturing satellites to actually designing building and manufacturing and launch of satellites on African soil.
Dr Udeh stressed that the ASEICC will provide the opportunity for principal actors within Africa’s space sector to do peer review, encourage, inspire and building conversations around Africa’s space economy which is rapidly growing at approximately 8%.
Earlier, the Director General and Chief Executive of National Space Research and Development Agency, Prof. Matthew Adepoju, expressed appreciation to the Minister for his continued support towards energizing the commercialization of the Agency’s research and development to harness the immense potentials in the Nigeria’s space sector.
He noted that the growth and development of Africa’s space economy depend on three fundamental pillars; economy, innovation and communication. Adding that poor communication of inventions and scientific breakthroughs remains a major obstacle to attracting investors to Africa’s space sector.
According to him, ASEICC puts premium on how to breakdown science inventions for investors with “deep pockets” to understand and take advantage of the investment opportunities in Africa’s Space Economy sector.
Prof. Adepoju further emphasised that the African space economy holds immense potential to accelerate the continent’s development, drive economic growth and strengthen Africa’s position in the global economy.
Below are pictures from the briefing:
Reporter: Kaneng Dagyeng
Editor: Joy Atama-Opaluwa
Photo credit: Ibrahim Zakari
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