Human rights activist, Olisa Agbakoba (SAN), yesterday, sought legal reform and a policy framework for a robust and competitive commercial space sector in Nigeria.
  
He revealed that the global space economy is estimated to be worth over $400 billion, adding that the United States, reckoned with the largest and most advanced space industry worldwide, is the biggest beneficiary of the sector.
 
In his presentation yesterday at the ongoing Africa Space Economy Conference And Exhibition 2023, with the theme: ‘Exploring Space Economy For Africa’s Economic Growth’ in Abuja, the maritime lawyer advised that the country to strengthen its legal and policy framework and encourage public-private partnerships, by ensuring regulatory licensing of space systems and services are transparent and consistent with national goals.  
   
Represented by Seun Ayomide Akinade, the senior lawyer added that the government should also work to reduce regulatory burden and create the flexibility necessary to accommodate innovation and technological demands, by identifying key suppliers and manufacturers, as well as incentivising them to invest in Nigeria.
   
He urged it to facilitate new market opportunities for commercial space capabilities and services, adding that space technology would power the next industrial revolution, hence the need for a thriving entrepreneurial environment.
   
Agbakoba, therefore, said Nigeria must seek critical partners in the development of its space economy.  These, along with appropriate funding and strategic planning, he noted, could assist the country and Africa as a whole harness the vast potential of their space sector for the benefit of the people and the global community.
  
He explained that the African story is not as gloomy as thought, but admitted that the continent was lagging behind other regions, though with signs of growth. 
   
The Nigerian Bar Association (NBA) ex-president reminded the audience that India and Japan have developed their space industries, with the former recently conducting its first robotic Lunar and Mars mission.