FG Vows to End Nigeria’s $1.2bn Annual Fish Import Bill, Targets Boost in Local Production

The Federal Government has reiterated its commitment to ending Nigeria’s heavy dependence on fish imports by aggressively increasing local production, Minister of Marine and Blue Economy Adegboyega Oyetola has said.

Speaking at a consultative meeting with fisheries cooperative groups in Abuja, Oyetola revealed that Nigeria currently spends about $1.2 billion annually on fish imports, which accounts for nearly 45 percent of the country’s total fish consumption.

Nigeria’s annual fish demand is estimated at 3.6 million metric tons, but local production meets only one-third of this figure, leaving a huge gap filled by imports.

According to the minister, the government is implementing a strategic roadmap aimed at transforming the aquaculture sector into a driver of food security, job creation, and export competitiveness. He added that the administration is committed to providing policy support, technical assistance, and access to finance, particularly for women and youth in the industry.

The ministry is also working on start-up grants and empowerment initiatives for small-scale fish farmers, while encouraging partnerships to improve cold-chain infrastructure and reduce post-harvest losses.

However, participants at the meeting highlighted persistent challenges facing the industry, including overfishing, environmental degradation, high feed costs, lack of affordable financing, poor cold storage facilities, multiple taxation, and low youth involvement.

Stakeholders at the session included the Fisheries Cooperative Federation of Nigeria, Tilapia Aquaculture Developers Association of Nigeria, Catfish Farmers Association of Nigeria, Women in Fish Farming and Aquaculture, and the Practicing Farmers Association of Nigeria.