Minister of Marine and Blue Economy, Adegboyega Oyetola, has urged investors and financial institutions to explore Nigeria’s fish industry, citing a major gap between local production and national demand.
Oyetola said Nigeria requires 3.6 million metric tonnes of fish annually but produces only 1.4 million tonnes. This leaves a supply gap of 2.2 million tonnes, creating opportunities to expand local production.
He made the call at a catfish industry roundtable in Abuja, where he identified fish farming, feed production, processing, storage and transportation as key areas for investment.
The minister identified high feed costs, limited financing and inadequate infrastructure as major challenges. He urged financial institutions to provide loans with repayment terms that reflect the production cycles of fish farmers.
He added that increased investment in aquaculture would reduce fish imports, strengthen food security and create jobs. He also called for stronger partnerships to improve production across the sector.
Sources: Punch – Nigeria’s fish production gap presents huge opportunities – Oyetola
