FG Seeks Investors to Boost Nigeria’s Catfish Production, Close Supply Gap
FG Seeks Investors to Boost Nigeria’s Catfish Production, Close Supply Gap
FG Seeks Investors to Boost Nigeria’s Catfish Production, Close Supply Gap
The Federal Government has called on investors and financial institutions to invest in Nigeria’s catfish industry, describing the country’s fish production deficit as a major opportunity to boost economic growth, strengthen food security and create jobs.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, made the call in Abuja during a high-level roundtable on scaling sustainable catfish value chain transformation, organised under the Fisheries and Aquaculture for Africa, the Caribbean and the Pacific (FISH4ACP) programme.
Oyetola disclosed that Nigeria’s annual fish consumption requirement stands at approximately 3.6 million metric tonnes, while domestic production from all sources is about 1.4 million metric tonnes, leaving a supply gap of 2.2 million metric tonnes.
He said the gap presents significant opportunities for local fish farmers, aquaculture operators and prospective investors to expand production and meet the country’s growing demand for fish.
The Minister also pledged stronger engagement with development finance institutions to facilitate access to affordable financing, improve sector data, support research and strengthen quality assurance and technical capacity.
He assured investors of the Federal Government’s commitment to creating an enabling environment for the industry through improved coordination with state governments, regulatory agencies and private sector operators.
Oyetola noted that expanding the catfish value chain would help increase domestic fish production, reduce dependence on imports, create employment opportunities and contribute to Nigeria’s economic development.
FG Seeks Investors to Boost Nigeria’s Catfish Production, Close Supply Gap
