Nigeria, other African countries could earn $2bn annually from Earth Observation date-WEF

Nigeria, other African countries could earn $2bn annually from Earth Observation date-WEF

World Economic Forum has said that Earth Observation [EO] data provides a billion-dollar opportunity for Nigeria and other African economies, such that it could create jobs and build new resilience after COVID-19.

A newly released report titled, Unlocking the Potential of Earth Observation to address Africa critical challenges lay out the multiple economic benefits from EO data.

The report was written in collaboration with Digital Earth Africa, an initiative that is a world first in providing freely accessible data that maps the entire African continent.

This report marks the first known time the potential impact of EO for Africa has been quantified. According to estimates, EO could be worth up to $2 billion a year thanks to a strengthened EO industry.

Improved use of EO data could lead to an extra $500 million in yearly EO sales along with new job opportunities and increased fiscal revenues. Boosted agricultural productivity. Better data could potentially be worth an extra $900 million a year, thanks to water savings and productivity gains for farmers, not to mention reduced pesticide usage.

Better regulation of gold mining activity. Data allows countries to crack down on illegal mining, providing a potential savings of at least $900 million from reduced environmental damage and fiscal evasion.

The report shows the opportunity available in EO data to strengthen economies and reach sustainability goals. EO data can help governments make more informed decisions regarding water, agriculture, food security and urbanisation.

Advancing new collaborations between public and private efforts can incentivise data sharing to develop EO industries on the continent even further.

Dr Adam Lewis, Managing Director of the Digital Earth Program welcomes the findings of the report as the first of its kind to quantify the potential benefits of the program. “Through collaboration with key partners both within Africa and across the globe, we have made significant progress in turning this potential into a reality.