The Federal Government says it is crafting innovative financing models and deepening partnerships with development agencies, notably the Food and Agriculture Organization (FAO) and key financial institutions, to bolster domestic fish production and meet Nigeria’s three million metric-tonne annual demand.
At the launch of the “Scaling Fish Farming through Finance” initiative under the FISH4ACP project at the 156-hectare Eriwe Fish Cluster in Ijebu-Ode, Ogun State, Mr. Wellington Omoragbon, Director of Fisheries and Aquaculture at the Ministry of Marine and Blue Economy, highlighted critical barriers to growth: limited access to credit, poor infrastructure, climate shocks and weak governance. “Addressing these gaps through public–private partnerships and modern technology will be pivotal to building a resilient aquaculture sector,” he said.
Under the pilot phase—funded by the European Union, GIZ, and government bodies—40 fish farmers each received grants of ₦2.5 million, totaling ₦200 million, to expand production, improve feed and inputs, and upgrade facilities. Omoragbon added that parallel efforts include skills training in sustainable practices, construction and rehabilitation of landing sites, establishment of cold-storage units to cut post-harvest losses, and organized relief for disaster-hit communities.
FAO Country Director for Nigeria and West Africa, Dominique Kouacou, noted Nigeria currently produces only about 1.2 million tonnes of fish annually against a need of 3.2 million tonnes, creating a two-million-tonne shortfall. “Unlocking input finance is essential to bridge this gap, curb imports, and advance our ‘Zero Hunger’ goal,” he said, calling on more financial institutions to join the programme.
Hugh Briggs, EU Agriculture Programme Manager for Nigeria and ECOWAS, revealed that the €5 million FISH4ACP grant—part of a 12-country roll-out—positions Nigeria as the top beneficiary. He urged recipients to leverage the funds to generate employment along the aquaculture value chain and significantly boost local fish output.
