The National Space Research and Development Agency (NASRDA) has proposed the creation of N20million annual seed fund to ensure the sustainability and growth of the African Space Economy Conference and Exhibition (ASE).

The ASE, co-owned by NASRDA and Abuja Chamber of Commerce and Industry (ACCI), is a flagship event designed to advance Africa’s space economy.

Under the proposal, N10 million each would be contributed by NASRDA and ACCI towards their efforts at hosting the African Space Economy Conference and Exhibition (ASE).

Mr. Osi Imomoh, Chairman of the ASE Planning Committee, made the proposal when the ACCI President, Dr Emeka Obegolu (SAN) led other members of the chamber on a visit to the Director-General of NASRDA, Dr Matthew Adepoju.

Imomoh, according to a statement from the ACCI, emphasised the significance of the conference as a transformative platform for Africa’s space industry.

He said the vision was to make the ASE a must-attend event for global industry leaders, researchers, and policymakers, pointing out that with adequate funding, “we can deliver a world-class conference that strengthens Africa’s position in the global space economy.”

Adepoju, the NASRDA chief executive said that the collaboration between the two organisations was pivotal to achieving their shared objectives and pledged commitment to ensuring the success of the ASE and positioning Nigeria as a global player in the space economy.

READ ALSO: Space Agency budgets N13m for streetlights across states

Adepoju also pledged to release NASRDA’s ₦10 million contribution to the ASE seed fund once the agency accesses its budget, stressing the need to institutionalise the ASE as a self-sustaining initiative jointly managed by NASRDA and ACCI.

The ACCI President had said the visit was to congratulate Adepoju on his appointment and reinforced the collaboration between ACCI and NASRDA, particularly on their joint efforts at the ASE.

Obegolu described Adepoju’s appointment as well-deserved and commended his contributions as Co-chair of the Planning Committee for the inaugural ASE in 2023.

“The partnership between ACCI and NASRDA is a strong example of how public and private sector collaboration can drive innovation and economic development,” Obegolu said.

He disclosed that the second edition of the ASE has been scheduled for June 17–18, 2025, with the theme “Space Economy and Emerging Trends in Africa” and advocated for an independent framework to institutionalise the event.

Obegolu lauded NASRDA’s initiative in establishing its commercial arm and urged the agency to register it as a member of the ACCI.