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                      Nigeria to Launch Space Regulation Era with N20 Billion Take-Off Fund

                      Ojelade Oluwamayowa by Ojelade Oluwamayowa
                      7 months ago
                      in Business
                      President Tinubu Justifies Removal of FCT from Treasury Single Account

                      #image_title

                      The National Space Research and Development Agency (NASRDA) is poised to commence the long anticipated implementation of its regulatory and licensing functions in Nigeria’s space sector, following the approval of a N20 billion take off fund by President Bola Tinubu.

                      The Director-General of NASRDA, Dr. Matthew Adepoju, confirmed this development in an exclusive interview with the News Agency of Nigeria (NAN) in Abuja on Thursday. He highlighted that the agency had been unable to fulfill its regulatory mandate since its establishment in 1999 due to financial and structural limitations.

                      A Major Step Toward Space Governance

                      Dr. Adepoju explained that upon assuming office, he submitted a detailed memorandum to President Tinubu, emphasizing the urgent need to enforce NASRDA’s regulatory functions as stipulated under Sections 6 and 9 of the NASRDA Act. These sections empower the agency to oversee and manage space activities within Nigeria, ensuring compliance with national and international space laws.

                      “When I raised that memo stating that our space can no longer be unregulated, Mr. President graciously approved the take-off fund of N20 billion a few months ago. This is to enable us to commence space regulation and spectrum management in Nigeria,” Dr. Adepoju stated.

                      Implications for Nigeria’s Space Sector

                      The absence of proper regulation in Nigeria’s space industry has led to security vulnerabilities and economic risks. The country has made significant strides in space science and technology, including satellite development and deployment. However, the lack of a robust regulatory framework has hindered optimal utilization of these advancements.

                      Dr. Adepoju underscored the critical role that regulation would play in fostering innovation, ensuring security, and attracting foreign investments. He noted that NASRDA’s oversight would also help mitigate risks associated with unauthorized satellite launches, signal interference, and other space-related activities that could compromise national security.

                      Future Prospects and Strategic Goals

                      With the approval of the take-off fund, NASRDA plans to roll out a comprehensive space regulation framework that aligns with global best practices. The agency will introduce licensing protocols, monitoring mechanisms, and collaborative initiatives with international space agencies to ensure Nigeria’s space activities remain compliant with international treaties and agreements.

                      Additionally, NASRDA intends to strengthen local capacity by fostering partnerships with research institutions and private sector stakeholders. This move is expected to drive technological advancements, create employment opportunities, and position Nigeria as a key player in the global space industry.

                      A New Dawn for Space Governance

                      The approval of the N20 billion take-off fund marks a significant milestone in Nigeria’s journey towards structured space governance. As NASRDA embarks on this crucial regulatory mission, the agency is set to redefine Nigeria’s role in space exploration and development, ensuring a secure and economically viable space sector for the nation’s future.

                      Ojelade Oluwamayowa
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                      • Ojelade Oluwamayowa
                        https://spectraafrica.com/author/ojelade/
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