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.
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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.
