Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Oyo Govt Approves Over N35bn for Agriculture, Others

    July 16, 2026

    Tantalizers Assures Shareholders of Sustainable Growth

    July 16, 2026

    Naira Rises as Foreign Reserves Approach $52 Billion

    July 16, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Oyo Govt Approves Over N35bn for Agriculture, Others
    • Tantalizers Assures Shareholders of Sustainable Growth
    • Naira Rises as Foreign Reserves Approach $52 Billion
    • BUA, Insurance, Tech Stocks Drag NGX Indices Lower
    • NCC Reviews MVNO Business Rules to Deepen Competition, Expand Telecom Access
    • XRP Trades Soft as Ripple Urges Senate to Support Clarity Act
    • Solana Slips after SBI Taps Network for Tokenised Japan Equity Fund
    • Nigerian Stock Market Loses N32bn as Investors Exit Positions
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Thursday, July 16
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » Tech » Nigeria Can make $20m from Launching One Satellite – NASRDA

    Nigeria Can make $20m from Launching One Satellite – NASRDA

    Marketforces AfricaBy Marketforces AfricaOctober 3, 2023Updated:October 3, 2023 Tech No Comments3 Mins Read
    Nigeria Can make $20m from Launching One Satellite – NASRDA
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Nigeria Can make $20m from Launching One Satellite – NASRDA

    The National Space Research and Development Agency (NASRDA) says Nigeria can generate 20 million Dollars from the launch of one satellite, if it develops its Assembly, Integration and Testing Lab (AITL).

    Dr Halilu Shaba, the Director-General of NASRDA, in an interview with the News Agency of Nigeria on Monday in Abuja, said the agency was confident that the 25-year Space Policy Roadmap could be achieved.

    Part of the content of the roadmap which included launching satellites into orbit from Nigerian soil, Shaba said was crucial to the development of Space Science and Technology.

    He said that achieving such a facility was a humongous project that required huge resources which their annual budgetary allocation could barely handle.

    He explained that NASRDA was engaging in advocacies to local investors and other countries to see how partnerships could float the project because the government might not have the sole capacity.

    “We are thinking out of the box because it can bring money and we are letting people know that this can bring money.

    “The government can partner with the public on that because for you to launch any satellite, the initial deposit you give for the launch of the satellite minus the kilometres you cover is 20 million Dollars to launch one satellite.

    “We are also at the equator and getting windows for launch are higher and then the distance to the orbit is shorter.

    “If we can be a launching destination, it means that if we are launching 20 satellites from Nigeria every year, that gives you about 400 million Dollars,’’ Shaba said. According to him, let’s start and then identify the other issues, and Nigeria will be a launching destination for other African countries and the world.

    The NASRDA boss further said they were talking to other countries due to their interest. He added that they were making offers to some other countries that would want Nigeria to develop the AITL and grant them access over a period.

    He said, “they can come, we develop this together, we share the profit, they can launch and as well have a launch pad. Whatever option we are looking at, it has to be to the benefit of Nigeria’’.

    Shaba disclosed that the agency was developing on its Rocketry and Propulsion experience, although its profits were coming in trickles.

    He said that the agency was exploring to engage every platform to educate Nigerians about Space Science and Technology.

    Avenues being explored included expanding the scope of their social media engagements targeted at the youths and the banks for the development of visibility tools, he stated.

    “” We are also looking at expanding broadband reach to rural areas which we got the approval from the Federal Executive Council in November 2022.

    “We are already ahead with that, some of the equipment is here already and we are testing the broadband to see its speed,’’ Shaba said.

    According to him, when you talk of digital economy, you cannot remove satellite and we want our youths to identify with all these areas because we are open to anyone. #Nigeria Can make $20m from Launching One Satellite – NASRDA

    Naira Devaluation Deepens Economic Crisis in Nigeria

    Investors Nigeria Satelite Satellite Tech
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Keep Reading

    NCC Reviews MVNO Business Rules to Deepen Competition, Expand Telecom Access

    Jack-Rich, Eric Trump Advocate Closer U.S.-Nigeria Ties

    Court Orders Final Forfeiture of 48 Properties Linked to Ex-Attorney General Malami

    Nigeria’s Headline Inflation Declines to 15.91% in June

    Nigeria Hits 104% of OPEC Quota as Oil Production Rises

    Nigeria’s Frontier Market Story: Reassuring Global Investors Beyond Index Inclusion

    Add A Comment

    Comments are closed.

    Editors Picks

    Oyo Govt Approves Over N35bn for Agriculture, Others

    July 16, 2026

    Tantalizers Assures Shareholders of Sustainable Growth

    July 16, 2026

    Naira Rises as Foreign Reserves Approach $52 Billion

    July 16, 2026

    BUA, Insurance, Tech Stocks Drag NGX Indices Lower

    July 16, 2026

    NCC Reviews MVNO Business Rules to Deepen Competition, Expand Telecom Access

    July 16, 2026
    Latest Posts

    NCC Reviews MVNO Business Rules to Deepen Competition, Expand Telecom Access

    July 16, 2026

    Jack-Rich, Eric Trump Advocate Closer U.S.-Nigeria Ties

    July 16, 2026

    Court Orders Final Forfeiture of 48 Properties Linked to Ex-Attorney General Malami

    July 16, 2026

    Nigeria’s Headline Inflation Declines to 15.91% in June

    July 15, 2026

    Nigeria Hits 104% of OPEC Quota as Oil Production Rises

    July 13, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.