The Abuja Chamber of Commerce and Industry (ACCI) and the National Space Research and Development Agency (NASDRA) have partnered to advance Africa’s space economy, thereby creating opportunities for economic growth.

Emeka Obegolu, president of the ACCI, said this while addressing journalists on the second edition of the Africa Space Economy Conference and Exhibition (ASEC) in Abuja on Friday.

Mr Obegolu, represented by the director-general of the ACCI, Agabaidu Jideani, said the exhibition was tagged “Space Economy and Emerging Markets in Africa.”

He said Nigeria was beginning to witness a fundamental shift where space was rapidly becoming a powerful driver of economic opportunity.

“Although we face challenges like 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 a strategic partnership with NASRDA, conceptualised the ASEC.

“Our goal is 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 said the inaugural edition of the ASEC in 2023 was a resounding success, attracting over 350 participants and facilitating meaningful partnerships and business deals.

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 said the conference would delve into how space-based technologies could drive economic diversification, strengthen critical infrastructure, and support sustainable development across the continent.

“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.

He said it would further propel space innovation and enterprise, not just in Nigeria, but across the African continent and beyond.

“We encourage all members of the business community to engage by visiting the exhibition booths, participating in panel discussions, networking with stakeholders, and exploring the immense potential within Africa’s emerging space economy,” he said.

Mathew Adepoju, director-general of NASDRA, said the space sector presented immense opportunities for African businesses to innovate, invest, and generate significant returns.

“This is the Fourth Industrial Revolution, and Africa must not be left behind.

“It is time for us to take our rightful place at the forefront of global innovation, science and technology, with space technology being the pinnacle of human endeavour,” he said.

Osi Imomoh, chairman of the organising committee, ASEC 2025, said the exhibition would bring together government leaders, space agencies, international partners and other relevant stakeholders.

(NAN)