The Federal Government, in collaboration with the Food and Agriculture Organisation has unveiled a support initiative to boost aquaculture in Nigeria with the sum of 200million Naira.
The Director of Fisheries and Aquaculture at the Federal Ministry of Marine and Blue Economy, Mr. wellington Omoragbon, spoke at the inauguration of the scaling fish farming through finance initiative held at the Eriwe fish farming cluster in Odogbolu, Ogun State.
He said the initiative is aimed at advancing the sustainability of Nigeria’s fisheries resources to increase fish production, ensure environmental sustainability, and also improve market access. He explained further that access to finance, particularly the skyrocketing cost of feeds is a major challenge fish farmer’s face in the country.
Mr. Koffy Kouacou, the representative of FOA in Nigeria and West Africa explained that the project is focused on enhancing access to finance fish farmers to improve local fish production. He also called for immediate action to end the country’s importation of 2million metric tonnes of fishes annually.
40 farmers to benefit under pilot scheme
Under the pilot phase of the project, 40 farmers will receive between N5million and N2.5million each totalling about N200million to upscale their fish farming business and boost production.
This initiative is expected to help meet country’s annual fish demand, create additional business opportunities in aquaculture and ultimately help end fish importation in the country.
Broader Vision & Impact
Aligned with FAO’s mission to combat hunger, the initiative underscores Nigeria’s potential to harness its water resources for sustainable aquaculture. By enabling farmers to access finance and feed inputs, the programme seeks to strengthen food systems, create employment, and build a resilient value chain.
Project Impact and Scalability Options:
With sustained financing, better feed management, and technical support, the initiative aims to:
- Gradually eliminate annual fish import gaps of Approximately 2 million mt.
- organically expand aquaculture across other clusters in Ogun and nationwide.
The government is exploring new public–private financing models, boosting infrastructure such as cold storage, landing sites, and enhanced training and governance frameworks.
