TrendScopeInsights

TrendScope Insights delivers the latest trending reports across industries. Get in-depth analysis on global market developments. We provide reliable data and fact-based research. Stay updated on trends in technology, business, and lifestyle. Always stay ahead with our latest insights.

Tinubu Approves ₦20 Billion For NASRDA To Launch Space Regulation, Licensing

Scope
Tinubu Approves ₦20 billion for NASRDA To Launch Space Regulation, Licensing

The National Space Research and Development Agency (NASRDA) is poised to begin the implementation of its space regulation and licensing mandate, following the approval of a ₦20 billion take-off fund by President Bola Tinubu.

NASRDA’s Director-General, Dr. Matthew Adepoju, disclosed this development in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday.

Adepoju explained that the agency’s regulatory function, as outlined in the NASDRA Act of 2010, had remained unfulfilled since the agency’s inception in 1999.

This announcement comes ahead of the NASDRA stakeholders’ workshop on space regulation, which is set to take place on April 8.

Read also:
  • What Is Gino Dacampo Net Worth 2024 How He Built His Culinary Empire
  • Upon assuming office, Adepoju revealed that he submitted a memo to President Tinubu, advocating for the enforcement of NASRDA’s regulatory functions in line with the provisions of Sections 6 and 9 of the agency’s founding laws. This led to the president’s approval of the ₦20 billion take-off fund.

    When I raised that memo stating that our space can no longer be unregulated, Mr. President graciously approved the take-off fund of ₦20 billion a few months ago,” Adepoju said. “This is to enable us to commence space regulation and spectrum management in Nigeria. Although there are security concerns associated with the sector, if we do not take control, it will continue to be misused.”

    Despite the approval, Adepoju clarified that the agency has yet to access the funds, as the release of funds is contingent upon availability.

    However, he assured that the agency had set up a platform to commence its regulatory and licensing functions.

    He elaborated on the three key segments of the space sector: upstream, midstream, and downstream.

    The upstream involves deep space activities, the midstream covers the space objects such as satellites in orbit, and the downstream pertains to ground stations and the use of space products and services by people,” he explained.

    Read also:
  • What Is Gabriel Rosado Net Worth 2024 Career Highlights And Financial Overview
  • In all these segments, Adepoju emphasized the necessity of regulation to prevent Nigerians from being short-changed.

    He noted that licensing and guidelines for the sector were essential, alongside the monitoring of Nigeria’s spectrum, which the agency has been authorized to manage since 2010.

    The licensing platform is now open to both public and private sector operators, with a focus on satellite image providers, GIS operators, and satellite-based telecommunications and broadcasting services.

    Adepoju stressed that strict oversight was crucial, particularly to prevent non-state actors from exploiting geographical data for illicit purposes.

    The Director-General also highlighted that this initiative would bolster national security, promote economic diversification, and foster the development of local content.

    Additionally, it is expected to generate revenue from sectors such as oil and gas, shipping, and telecommunications, all of which rely on space products for their operations.

    Call Senator Natasha And Settle Or Everything You Built Will Go Up In Smoke – Dele Momodu Warns Akpabio
    ‘This Is The Level Of His Vindictiveness’ – Senator Abbo Makes Fresh Allegations Against Akpabio
    Super Eagles’ Terem Moffi Celebrates Return To Football

    PRESIDENT TINUBU APPROVES N683 BILLION AS 2024 INTERVENTION FUNDS - TERTIARY EDUCATION TRUST FUND
    PRESIDENT TINUBU APPROVES N683 BILLION AS 2024 INTERVENTION FUNDS - TERTIARY EDUCATION TRUST FUND
    Tinubu makes 20 new appointments (FULL LIST) - Daily Post Nigeria
    Tinubu makes 20 new appointments (FULL LIST) - Daily Post Nigeria
    Tinubu approves Executive Management for River Basin Development Authorities - P.M. News
    Tinubu approves Executive Management for River Basin Development Authorities - P.M. News

    YOU MIGHT ALSO LIKE