Chief Executive Officer of Hayes Group International, Selina Hayes, has said critical solid minerals in Nigeria worth $700 billion can be mapped with the help of space-based technology.

The influential leader and investor in Africa and frontier markets, with a specialised focus on critical minerals and emerging technologies, disclosed this, yesterday, at the second edition of Africa Space Economy Confab and Exhibition (ASEC).

The theme of the conference is ‘Space Economy and Emerging Markets in Africa’.

“Approximately, I think the value of Nigeria’s mining industry is $700 billion. A lot of the reason that it hasn’t been realised yet is because there has really been a lack of exploration. This is where I believe space-based data can play a role,” Hayes said.

She said the whole country could be mapped with space-based technology “to see a lot more”, adding that the country’s space agency, National Space Research and Development Agency (NASRDA), could play a role in expanding the country’s wealth and realise some of her mining assets.

Hayes, who spoke on space technology in mining and community development, said visibility and transparency into rare earth and critical minerals remained one of the challenges in the continent but could be solved with space-based technology.

According to her, Nigeria is known for mineral sands, and within the mineral sands are rare earths that require new technologies to identify. In a panel discussion on ‘Diversifying Africa Economy Through Space Technology’, Charles Mwangi of Kenya’s Space Agency urged African governments to demonstrate political will to support and encourage space technology.

Director General of NASRDA, Dr Mathew Adepoju, said the agency was making frantic efforts to mainstream the private sector into the space economy.

Former Secretary to the State Government (SSG) of Adamawa, Dr Umaru Bindir, called for a concerted effort from government, industrialists and academics to develop the nation’s space technology for the benefit of Nigerians.