Commodity Development Initiative: Fishery

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Overview

Fish accounts for around 40 percent of the country's protein intake, with estimated consumption of 13.3 kg/person/per year. Total fish production per year is around 1.07 million metric tons (313,231 metric tons from aquaculture and 759,828 metric tons from fisheries) while demand is 3.36 Million thereby leaving a gap of 2.5 million metric tons. The Central Bank of Nigeria (CBN) realizing the drain on foreign reserves in the fishing industry responded by collaborating with relevant stakeholders and governments of coastal states in Nigeria with hopes for a spike in import substitution, employment generation and the sale of local fish species in supermarkets on all sides of the River Niger.

Objective of the Initiative

It is expected that these objectives will be met:

• Boosting fish production by 600,000 metric tonnes in three years,
• Improving local production of fish,
• Reducing import bills.

Besides the economic considerations, the health implication of importing frozen aquatic products that may be compromised and may have adverse effects on the health of consumers in Nigeria is also emphasized.