President of the Abuja Chamber of Commerce and Industry, Chief Emeka Obegolu, SAN, has affirmed that Nigeria and other African countries are prepared to unlock the economic opportunities within the space sector.
Speaking on the upcoming second edition of the Africa Space Economy Conference and Exhibition, Obegolu urged the Federal Government and other African governments to intensify efforts to harness the growing prospects of the space economy for sustainable development and economic growth.
Obegolu, represented by the Director-General of the Abuja Chamber of Commerce and Industry (ACCI), Agabaidu Jideani, noted that space has long been viewed mainly through the lens of scientific exploration and geopolitical rivalry.
However, he said a global shift is underway, with space now emerging as a major engine of economic growth — and Africa is ready to seize the moment.
He acknowledged that while Europe, North America, and Asia have made significant strides in developing their space economies, Africa, despite its challenges, is on the verge of tapping into its vast potential.
“Although we face challenges, such as limited awareness, infrastructure deficits, and evolving policy frameworks, these hurdles present fertile ground for innovation, collaboration, and investment. It was with this foresight that ACCI, through our Policy Advocacy Centre, in partnership with NARSDA, conceptualized the Africa Space Economy Conference and Exhibition.
“Our goal is clear: to create a dynamic and inclusive platform where government, industry, academics, and investors can come together to shape the future of Africa’s space economy,” he said.
The Director-General highlighted that the first edition of the Africa Space Economy Conference (ASEC) in 2023 was highly successful, attracting more than 350 participants and paving the way for valuable partnerships and business engagements.
According to him, the second edition, which is expected to be held in Abuja between June 17 and June 19, will build on that strong foundation.
He stated that the conference would explore how space-based technologies can contribute to economic diversification, enhance critical infrastructure, and promote sustainable development throughout Africa.
“For business leaders, entrepreneurs, and innovators, ASEC will offer a collaborative environment for scientists, technologists, and private sector actors to explore practical applications of space-based services across diverse industries.
“It is a platform for innovation and investment, where start-ups can showcase their creativity and engage with potential partners, and where investors can identify high-impact, high-return opportunities within this rapidly growing sector.
“With our rich human capital, strategic location, and expanding innovation ecosystem, Nigeria is uniquely positioned to become a regional hub for space-driven economic activities,” he said.
The DG said the ASEC would foster robust public-private partnerships and advocate for enabling policies to de-risk and accelerate growth in Africa’s space sector.
The Director-General of the National Space Research and Development Agency, Dr. Matthew Adepoju, emphasized that the space industry holds tremendous potential for African businesses to drive innovation, attract investment, and reap significant economic benefits.
