Nigeria Moves to Reduce Fish Imports, Improve Domestic Supply

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Nigeria is seeking to close an annual fish supply gap of more than 2.2 million tonnes through a $200 million World Bank financing commitment aimed at expanding aquaculture production and attracting investment across the states.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, announced the commitment at a high-level executive training on the Aquaculture Investment Guide in Abuja, organised by the Federal Ministry of Marine and Blue Economy in collaboration with the World Bank Group.

Represented by the Senior Special Assistant to the President on Marine and Blue Economy, Professor Busayo Fakinlede, Oyetola said the financing would be extended to state governments as concessional loans to support fisheries development, expand production capacity and turn identified investment opportunities into viable projects.

He said the initiative would place state governments at the centre of efforts to reduce fish imports, improve domestic supply and strengthen the contribution of aquaculture to food security and rural livelihoods.

The scale of the challenge is reflected in Nigeria’s annual fish requirement of approximately 3.6 million tonnes, against domestic production of about 1.4 million tonnes. The resulting shortfall is largely met through imports, costing the country close to $1 billion in foreign exchange annually.

To address the gap, Oyetola said the ministry was developing a state-led aquaculture framework that would require each state to identify priority fisheries value chains, assess investment opportunities and prepare bankable projects with measurable production targets.

According to him, the World Bank financing is expected to help states translate these plans into operational investments, while strengthening coordination between federal and state governments, private investors and development partners.

The executive training brought together commissioners from Rivers, Bayelsa, Delta and Cross River states, alongside permanent secretaries and directors responsible for fisheries and aquaculture across the country.

Oyetola said the programme was designed to strengthen the capacity of state officials to develop commercially viable aquaculture projects, with sessions covering business models, investment risks, environmental and social safeguards, and public-private partnerships.

He maintained that achieving national fish sufficiency would depend on states taking greater responsibility for expanding production, adding that the government’s long-term ambition was to reduce imports and eventually position Nigeria as a net exporter of fish.

The minister also acknowledged the World Bank Group’s support for Nigeria’s marine and blue economy development, particularly in analytical research, cluster-based development, capacity building and the preparation of the Aquaculture Investment Guide.

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