A major N200 million funding initiative has been launched to transform Nigeria’s aquaculture sector and significantly boost local fish production to meet growing demand.
Unveiled at the Eriwe fish farming cluster in Odogbolu, Ogun State, the Scaling Fish Farming through Finance program aims to empower fish farmers by addressing key challenges such as limited access to finance and the rising cost of fish feed.
Mr. Paul Opuama, representing the Federal Ministry of Marine and Blue Economy, highlighted Nigeria’s vast water resources and the urgent need to harness them sustainably.
“Fish farmers face serious financial constraints, especially with feed prices soaring. This initiative provides critical support to scale up production and reduce the country’s dependence on imports,” he said.
Reducing Reliance on Imported Fish
The Food and Agriculture Organization’s representative for Nigeria and West Africa, Mr. Koffy Kouacou, emphasized the goal to curb Nigeria’s importation of over two million metric tonnes of fish annually.
As part of the pilot phase, 40 fish farmers will receive between N2.5 million and N5 million each to expand their businesses and increase output.
“By providing farmers with these resources, we are not only boosting production but also creating new jobs and opportunities across the sector,” Kouacou explained.
Nigeria’s Leading Role in Global Aquaculture Initiative
Mr. Hugh Briggs, Agriculture Programme Manager at the European Union Delegation to Nigeria, noted that Nigeria is the biggest beneficiary of the FISH4ACP project, which spans 12 countries.
“Nigeria’s prominence in this initiative reflects its enormous potential to become a self-sufficient aquaculture hub, reducing reliance on imported fish and strengthening food security,” Briggs said.
