Politics
MULTIPLE taxation, financial institutions’ bureaucracy, poor enabling environment, among other issues, had been identified as limitations to the growth of space technology programmes in Nigeria.
This is contained in a Communique issued at the end of the technical sessions of the maiden African Space Economy Conference and Exhibition in Abuja.
The 5-day conference was organised by the National Space Research and Development Agency (NASRDA), in collaboration with Abuja Chamber of Commerce and Industry (ACCI).
The conference had its theme as “Exploring Space Economy for Africa’s Economic Growth”.
“Multiple taxation regimes do not encourage investment in the space sector,as manual tax processes greatly challenge tax collection and monitoring.
“There is a need for space policy to be approved by the Federal Executive Council for growth because technology can help us in food security, space education, telemedicine, and property tax among others.
“As a nation, all that is needed is an enabling environment for businesses and start-ups to thrive in the space sector for the benefit of all.
“The restrictions and bureaucracy of financial institutions do not encourage startups and venture capitalists in the space sector,” it said.
The communique also identified that Nigeria needed to intensify space technology applications to address security challenges,encourage more inter-agency collaborations and intensify damage assessment mapping modalities.
The communique recommended for the Federal Government to establish a bank for innovators, start-ups in the space ecosystem.
“NASRDA should help in providing the devices, technology needed to carry out telemedicine, food security, and property tax programmes, among others.
“The Bank of Industry should do more to make funds accessible to innovators who are determined to invest in the space ecosystem.
“There is a need for more awareness about space technology and its importance, while the government at all levels should encourage space education and capacity building for its citizens.
“The necessary authorities should not limit the idea of space in space-related courses, rather it should penetrate every aspect of life and the economic sector,” it said.
The communique further recommended that relevant agencies in data collection should embark on extensive capacity development to actualise competencies in data management, collection, protection, and transmission.
According to it, more information needs to be put out on policies and regulations in the space sector to encourage start-ups and innovators.
“There is a need for speed and practical development through space, hence our education curriculum needs to be revisited and improved to suit an industrial revolution.
“The necessary authorities in the space sector should separate the operation area which is Research and Development from the business and commercial aspects.
“The Federal Government should invest funds into the space research system,” it said.
It also recognised that the scope of the conference was not far reaching, hence ACCI and NASRDA should expand it in the coming editions.(NAN)
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October 19, 2023 @ 14:41 GMT|
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