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Nigerian Companies Eyeing $260 Billion Drone, Robotics, and AI Market

POSTED ON May 20, 2024 •   Uncategorized      BY Samuel O . Adeniyi
Robots and Artificial Intelligence | Photo Credit: The Guardian

Nigerian companies are seeking active participation in the rapidly growing global market for drones, robotics, and artificial intelligence (AI), projected to reach $260 billion in the next six years.

Currently estimated at $35.28 billion, this transformative technology has the potential to revolutionize various sectors, including agriculture, mining, healthcare, logistics, security, and entertainment.

Experts believe that the drone, robotics, and AI value chain can create numerous job opportunities in both small and large-scale businesses.

However, to fully harness this potential, they advocate for the formulation of a national plan or framework to guide and deepen Nigerian participation in the market.

Fortune Idu, convener of the Drone Technology Conference & Exhibition, emphasized the need for a comprehensive institutional framework to regulate drone operations in Nigeria.

He stressed the importance of involving all relevant government security and regulatory agencies in defining their roles within this rapidly evolving landscape.

While the Nigerian Civil Aviation Authority (NCAA) has established regulations for drone operations, Idu pointed out that many drone operators operate outside the aviation sector, necessitating a holistic approach to harmonize the business scope.

He emphasized the need for a robust regulatory framework to keep pace with the dynamic nature of the industry.

Dr. Emmanuel Meribole, Permanent Secretary of the Ministry of Aviation & Aerospace Development, affirmed the government's commitment to positioning Nigeria as a leader in the African drone market.

He highlighted ongoing regulatory efforts, including amendments to ICAO annexes and new procedures, that lay the groundwork for an international regulatory framework for drone operations.

Meribole assured that relevant authorities are working diligently to ensure that safety and security remain paramount in the regulation of drones. The NCAA has been tasked with providing robust oversight, including certification, registration, operations, and surveillance of drones.

He called on research centers to develop solutions for drone applications and production capabilities, aiming to establish Nigeria as a leading player in the industry rather than a mere consumer.

Collaboration between government, industry, and research institutions is seen as crucial to maximizing the benefits of drone technology while mitigating potential risks.

This proactive approach from Nigerian companies and the government reflects a growing recognition of the immense potential of drones, robotics, and AI to drive economic growth and innovation in the country.

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