Nigeria loses $2bn to overseas satellites: Onuh

Nigeria loses $2bn to overseas satellites: Onuh

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Nigeria: Dr. Spencer Onuh, Director and Chief Executive of Centre for Satellite Technology Development, CSTD feels that the nation loses about $2 billion to capital flight annually due to importation of foreign satellite.

It is being felt that such a trend, if not checked, would negatively impact not just the country's space agency, but also the economy at large.

Onuh noted that its quite undesirable why the nation chooses to import overseas satellite services even when they can acquire data from the National Space Research and Development Agency (NASRDA) through Nigeria Sat 1.

He underscored the merit of making more investments in country's domestics satellite programme, thus, " For every naira you spend on any satellite, it brings a lot of Naira in terms of employment. This is so because this agency employed over 2,000 staff and by the time the Assembly, Integration and Testing, AIT centre is ready and functional, we will be thinking about 150,000 staff including engineers and support staff in only the AIT."

Source: Vanguard