SNOW TV NEWS DESK
Nigeria is facing a significant fish supply crisis, with domestic production falling more than 2.2 million tonnes short of the country’s annual consumption needs, the Federal Government has disclosed.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, revealed the figures while announcing a $200 million World Bank-backed initiative aimed at boosting fisheries and aquaculture production across the country.
According to a statement issued on Sunday by his Special Adviser, Dr. Bolaji Akinola, Nigeria requires approximately 3.6 million tonnes of fish annually but currently produces only about 1.4 million tonnes.
This means local production meets just 39 percent of national demand, leaving the country heavily dependent on imported fish to bridge the gap. The government estimates that these imports cost Nigeria close to $1 billion annually in foreign exchange.
Speaking through the Senior Special Assistant to the President on Marine and Blue Economy, Professor Busayo Fakinlede, during an aquaculture investment training program in Abuja, Oyetola stressed that increasing domestic fish production must become a national priority.
He noted that fish remains an important source of nutrition, food security, and employment, particularly for households and communities that depend on fishing and related businesses.
“Fish is a pillar of food security, household nutrition, and rural livelihoods. No nation can call itself food secure while it imports most of the fish it eats. Our ambition is to produce more, import less, and, in time, become a net exporter,” he said.
To address the shortfall, Oyetola disclosed that the World Bank Group had committed $200 million to support the development of Nigeria’s fisheries and aquaculture industry. The funding is expected to be made available to state governments through concessional loans.
The initiative will focus on expanding fish production capacity, encouraging private-sector investment, and developing sustainable fisheries value chains.
Under the proposed arrangement, state governments will identify promising investment opportunities, develop viable projects, and establish measurable production targets.
Oyetola emphasized that achieving fish sufficiency would require stronger cooperation between federal and state governments, private investors, and international development partners.
The training program, organized by the ministry in collaboration with the World Bank, brought together commissioners, permanent secretaries, and fisheries officials from across the country.
The minister also highlighted recent improvements in the sector, noting that Nigeria’s annual fish production had increased from 1.1 million tonnes to 1.4 million tonnes, representing a growth of approximately 27.3 per cent.
Other initiatives include the digitization of fish import licensing, efforts to strengthen shrimp exports, and plans to develop the Fish City and Fish Terminal investment portfolio.
While the $200 million intervention represents an important step towards addressing the country’s fish deficit, its success will depend largely on effective implementation, sustained investment, and the ability of states to turn proposed projects into actual production.
For Nigeria, closing the supply gap could reduce pressure on foreign exchange, create employment opportunities, improve household nutrition, and strengthen the country’s domestic food production capacity.
“Sir Bartholomew White Ebe is a Lagos-based media personality, Music Artist, Producer, and a Relationship Coach and independent journalist. With over seven years of experience tracking political developments and cultural shifts in Nigeria, he specializes in local current affairs, grassroots politics, and community-driven reporting across Lagos State. As the founder and chief editor of Snow Multimedia Connect {SNOW TV}, he leads the editorial team to deliver verified, high-impact stories to digital audiences.”
Email: snowmediaconnect@gmail.com
