Mapping Nigeria’s $700 Billion Mineral Wealth Through Space-Based Technology

At the second edition of the Africa Space Economy Confab and Exhibition (ASEC), held under the theme “Space Economy and Emerging Markets in Africa,” Selina Hayes, CEO of Hayes Group International, spotlighted the potential of space-based technology in revolutionizing Nigeria’s mining sector. According to Hayes, Nigeria’s mining industry is estimated to be worth around $700 billion, but this value remains mostly untapped due to limited exploration efforts.

Unlocking Nigeria’s Mineral Wealth through Satellite Innovation

Hayes, who has years of experience investing in Africa and frontier markets, particularly in critical minerals, argued that traditional exploration methods are no longer sufficient. She emphasized that satellite imaging, geospatial mapping, and remote sensing can enable Nigeria to carry out comprehensive, cost-effective, and highly accurate surveys of its mineral-rich landscapes. “The entire country can be mapped using space-based technology to see a lot more,” she stated, underlining the role such innovation could play in increasing visibility and transparency in the extraction and management of rare and critical minerals. Hayes noted that Nigeria is especially known for its mineral sands, which contain rare earth elements (REEs). These elements are vital to the production of modern technologies, including electric vehicles, smartphones, solar panels, and military systems. However, locating and quantifying these resources requires advanced tools, which she believes satellite technology is well-suited to provide. She added that the National Space Research and Development Agency (NASRDA) is positioned to support this transformation, potentially serving as a key driver in the economic development of Nigeria’s mining industry.

Building Capacity through Collaboration and Political Will

The conference also featured input from stakeholders across the continent. Charles Mwangi of the Kenya Space Agency urged African governments to show greater political will in supporting and adopting space technologies. He stressed that with stronger commitment, space-based tools could help diversify African economies, particularly by improving resource management in sectors such as mining, agriculture, and environmental conservation. In support of this vision, NASRDA’s Director General, Dr. Mathew Adepoju, revealed that the agency is already making efforts to bring private sector players into the fold. According to him, increased private sector participation will enhance innovation, drive investments, and boost the overall efficiency of Nigeria’s space program. Former Adamawa State Secretary to the Government, Dr. Umaru Bindir, added that collaboration between government institutions, academic researchers, and industry players is essential if Nigeria hopes to develop a robust space economy that supports national development.

In a nutshell, we can see that the ASEC conference reinforced a vital message: “Nigeria can harness space-based technology to unlock and manage its $700 billion mineral assets.” With strategic investment, political support, and cross-sector collaboration, space technology could become the key to transforming Nigeria’s mining sector into a pillar of sustainable economic growth.