The Central Bank of Nigeria (CBN) has issued a report highlighting the insufficiency of local fish production to meet the country’s domestic consumption demands.
This dilemma persists despite the financial support provided through the Anchor Borrower Programme (ABP) to fish farmers.
According to the CBN’s report, Nigeria currently imports 700,000 metric tons (MT) of fish annually, surpassing the total domestic production by 60,000 MT. The report emphasizes the sector’s immense growth potential and its capacity to significantly contribute to the nation’s Gross Domestic Product (GDP).
“The subsector has recorded the highest average growth rate of 10.3% (1961-2020) compared to the 6% recorded in crop production in the same period,” the report notes.
“With an average contribution of 4.3% to total agriculture GDP between 1960 and 2020 and provision of at least 50% animal protein, fisheries contributes to economic growth by enhancing food security and improving livelihoods of fish farmers and their households.”
Highlighting the positive trends, the report reveals that aquaculture production in Nigeria increased from 25,718 tons in 2000 to an impressive 261,711 tons in 2020, making it the second-highest in Africa.
This 12.3% annual growth rate slightly lags behind the sub-regional average but surpasses regional and global averages.
Catfishes played a pivotal role, contributing two-thirds of Nigeria’s aquaculture production in 2020, and the country accounted for nearly 80% of global aquaculture production of bony tongues.
To address this challenge and revitalize the fisheries and aquaculture industries in Nigeria, the Fisheries Cooperative Federation of Nigeria (FCFN) has presented a comprehensive blueprint. FCFN President Alhaji Mohammed Laminu emphasized the importance of collaborative efforts between the government, private individuals, public-private partnerships, and access to funding for small-scale fish farmers and fishermen.
The blueprint includes a range of interventions, such as the provision of 150,000 bags of fish feeds, 7.5 million packs of fingerlings, 15,000 collapsible tanks, 5,000 bundles of fishing nests, 5,000 outboard engines, 5,000 life jackets, 2,000 smoking kilns, and 1,500 plastic tanks.
As Nigeria grapples with the challenge of balancing domestic fish demand and production, the CBN’s report and FCFN’s blueprint signal a concerted effort to boost local fish production, enhance food security, and strengthen the livelihoods of those engaged in the fishery industry.
