FG targets fish sovereignty, secures $200m World Bank-backed investment

• Mobilises states to transform Nigeria’s aquaculture sector

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By Steve Agbota

The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has said the Federal Government has intensified efforts to reposition Nigeria as a fish-sufficient nation, securing a $200 million commitment from the World Bank Group to support a renewed national drive to expand fisheries and aquaculture production nationwide.

The funding, available to state governments as concessional loans, is expected to strengthen their capacity to develop and expand fisheries and aquaculture activities, unlock investment opportunities, boost domestic fish production and, ultimately, bridge Nigeria’s widening fish supply deficit.

Oyetola’s renewed push also places greater emphasis on collaboration between federal and state governments, investors and development partners to reduce the country’s dependence on imported fish and strengthen national food security.

The minister’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.

The training, held in Abuja, brought together key policymakers and technical officials, including commissioners from Rivers, Bayelsa, Delta and Cross River states, permanent secretaries, and directors of fisheries and aquaculture from across the federation.

It was designed to equip state-level decision-makers with the expertise to translate investment opportunities into bankable aquaculture projects, with emphasis on viable business models, risk management, environmental and social safeguards, and public-private partnerships.

Speaking through his representative, Oyetola said Nigeria’s ambition to achieve fish sufficiency could become a reality only through deliberate sub-national participation, stressing that states must assume 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.

He said Nigeria requires approximately 3.6 million tonnes of fish annually but currently produces about 1.4 million tonnes, leaving a deficit exceeding 2.2 million tonnes, adding that the shortfall is largely bridged through imports, which cost the country close to $1 billion annually in foreign exchange.

“To reverse the trend, the Ministry is pursuing a state-driven aquaculture development framework under which each state will identify priority value chains, assess investment readiness, develop bankable project pipelines and commit to measurable contributions towards national fish production.

“The $200 million World Bank support is expected to provide critical financing for states to implement these priorities, expand production capacity and accelerate the country’s journey towards fish sufficiency.

“A Federal-State interface is also expected to provide a coordinated platform for an inclusive national fish security strategy, ensuring that the Federal Government’s ambition is translated into measurable production commitments and investment outcomes at the sub-national level,” he explained.

The minister commended the World Bank Group for its strategic partnership and sustained support for Nigeria’s marine and blue economy development, particularly its contributions to analytical studies, cluster-based development, capacity building and the Aquaculture Investment Guide.

He also reaffirmed his commitment to translating the training into tangible investments, disclosing that he would oversee a post-training stakeholders’ roundtable to deepen engagement with state governments and other critical actors, strengthen implementation arrangements and sustain the momentum generated by the initiative.

Fakinlede attributed the ministry’s progress to Oyetola’s leadership, citing 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 also highlighted Nigeria’s attainment of US shrimp-export certification through compliance with Turtle Excluder Device requirements, as well as the development of the Fish City and Fish Terminal investment portfolio to attract private capital.

“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 added.

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