Unlocking Nigeria's Industrial Potentials Through Aerospace Technology as an Economic Catalyst: A Review

Aerospace technology is globally recognized and appreciated as one of the top high-value, high-multiplier sectors that rapidly drives industrialization, job creation, technology transfer and foreign exchange earnings. This paper analytically assesses the potentials of aerospace technology as a prospective economic catalyst for Nigeria. Using data from CBN, NBS, IATA, NASRDA, and 42 peer-reviewed studies, we quantify current contributions and project future potential. Findings show Nigeria’s aviation sector contributed ₦397B ≈ $490M or 0.6% to GDP in 2023, while satellite and drone services added an additional ₦3.8B annually. Aerospace jobs interestingly pay 4 times the national average wage and create about 2.8 indirect jobs per any direct job. However, $500M annual forex outflow for aircraft MRO and 90% import dependence on aircraft parts adversely inhibits all of these impacts. Scenario modeling shows that with investment in MRO hubs, drone manufacturing, and satellite data commercialization, aerospace can convincingly contribute well above 2.5% to GDP and without hesitation generate about 50,000 skilled jobs by 2035. The paper concludes that treating aerospace from a different perspective as an industrial catalyst, not just transport infrastructure, is critical and might be the game changer for Nigeria’s economic diversification beyond oil.