By Faith Anisiobi, The Sight News
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has secured a US$200 million World Bank commitment to expand fisheries and aquaculture production across Nigeria as part of efforts to achieve national fish sufficiency and reduce dependence on imports.
The funding, which will be provided to state governments as concessional loans, is expected to strengthen investment in fisheries and aquaculture, increase domestic production, create jobs and address Nigeria’s widening fish supply deficit.
Oyetola’s position was conveyed by the Senior Special Assistant to the President on Marine and Blue Economy, Professor Busayo Fakinlede, who represented him at a high-level Executive Training on Aquaculture Investment Guide organised by the Federal Ministry of Marine and Blue Economy in collaboration with the World Bank Group in Abuja.
The training brought together policymakers and technical officials, including commissioners from Rivers, Bayelsa, Delta and Cross River States, as well as permanent secretaries and directors of fisheries and aquaculture from across the country.
It was designed to equip state-level decision-makers with the expertise to translate investment opportunities into bankable aquaculture projects, focusing on viable business models, risk management, environmental and social safeguards, and public-private partnerships.
Speaking through his representative, Oyetola stressed that achieving fish sufficiency required deliberate collaboration between federal and state governments, urging states to take greater responsibility for expanding domestic production.
“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. That ambition can be achieved only when every state plays its part,” he said.
Nigeria requires approximately 3.6 million tonnes of fish annually but produces about 1.4 million tonnes, leaving a supply gap of more than 2.2 million tonnes. The shortfall is largely bridged through imports, which cost the country close to US$1 billion annually in foreign exchange.
To address the deficit, the ministry is implementing a state-driven aquaculture development framework that requires each state to identify priority value chains, assess investment readiness, develop bankable projects and establish measurable production targets.
The US$200 million World Bank support is expected to provide financing for states to implement these priorities, expand production capacity and accelerate Nigeria’s drive towards fish sufficiency.
The initiative will also establish a Federal-State engagement platform to coordinate a national fish security strategy and ensure that production targets translate into tangible investments and outcomes across the states.
Oyetola commended the World Bank Group for its partnership and sustained support for Nigeria’s marine and blue economy development, particularly in analytical studies, cluster-based development, capacity building and the Aquaculture Investment Guide.
He also disclosed plans to lead a post-training stakeholders’ roundtable to strengthen engagement with state governments and other critical stakeholders, establish implementation arrangements and sustain the momentum generated by the initiative.
Earlier, Fakinlede attributed the ministry’s progress to Oyetola’s leadership, highlighting the inauguration of the Technical Committee on Accelerating Fish Production in August 2026, the digitisation of fish import licensing and the increase in national fish production from 1.1 million to 1.4 million tonnes.
He further disclosed that Nigeria had secured shrimp-export certification through compliance with Turtle Excluder Device requirements, while the ministry had developed the Fish City and Fish Terminal investment portfolio to attract private-sector capital.
Fakinlede expressed confidence that sustained collaboration among governments, investors and development partners would help address the country’s fish supply deficit, create employment opportunities and improve household incomes.
“Through strategic collaboration, contributive support and shared commitment, we will close the fish deficit, create jobs, raise household incomes and secure Nigeria’s place as a fish-sufficient nation,” he said.
