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Aquaculture adds almost 5% to Nigeria’s GDP

Aquaculture adds almost 5% to Nigeria’s GDP
Photo by Bakhrom Tursunov- Ask Nigeria

The fisheries and aquaculture subsector is significant to Nigerian economy.

Nigeria is a maritime nation, with 9 of its 36 federal states having a coastline in the Atlantic Ocean. These coastal states are Ogun state, Lagos state, Ondo state, Edo state, Delta state, Bayelsa state, Rivers state, Akwa Ibom state, and Cross Rivers state; these states are located in the western and southern parts of the country. According to research, the fisheries and aquaculture subsector of agriculture in Nigeria, contributes about 3% – 5% to the agriculture share of the Gross Domestic Product (GDP).

Also, its annual domestic fish supply is about 400,000 MT. The country owns significant fisheries with a coastline of 853km and over 14 million hectares of inland waters. The Fisheries and aquaculture subsector contributes meaningfully to the Nigerian economy. This subsector of the Nigerian agriculture, through its presence in local communities, aids the development of rural areas. This is possible through its large provision of income, high-quality protein, and socioeconomic development of fishing communities in Nigeria.

The federal government renders support to the subsector.

The Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar, stated, at the Internal Coordination Meeting of Implementation of Fisheries Governance Project Phase 2 (FisheriesGov2), that over 10 million Nigerians are actively engaged in primary and secondary fisheries operations in the subsector of the economy. This improvement, like he said, would aid the creation of wealth for Nigerians. At the meeting, the minister assigned stakeholders to scrutinize every item on the agenda and provide sustainable and practical governance schemes for implementation to improve fish production in Africa.

In addition, the government would support the ministry, to boost local production, so as to reduce imports, reason being that it encourages backward integration through commercial aquaculture production. The subsector of the fisheries and aquaculture would further help the Nigerian economy, through the creation of more job opportunities, income generation, alleviation of poverty, provision of raw materials for the animal feed industry and foreign exchange earnings. It would also help to protect coastline and aquatic environments, species and habitats. Equally, it would be useful for marine life-related scientific research development.

The subsector would help reduce fish importation.

The total annual demand for fish in Nigeria is 3.6 Million Tons. With collaboration from all public sources (Artisanal, Aquaculture, and Industrial sectors), Nigeria is able to produce 1.1 million tons, with a deficiency of 2.5 million tons. As a result, the ministry works in collaboration with the private sector to supplement the demand by import reduction, through backward integration. In a bid to boost local production and reduce imports, the government encourages backward integration through commercial aquaculture production (pond and cage culture) for local consumption and export, and it has and still yields positive results.

The federal government has also put in place measures to enhance the works of the fisheries subsector. These measures include, the establishment of Vessel Monitoring System (VMS) in Lagos and Abuja for the sake of monitoring and controlling illegal, unreported and unregulated fishing along Nigeria Continental Shel. Fish storage and marketing project to increase shelf keeping quality and limit post harvest losses of fish and fishery products. Fish farm clusters to increase fish production and engage the abounding youths and women. Lake enhancement project to increase fish production and make a sustainable livelihood for the fisherfolks. The aforementioned programs are established for the creation of job opportunities, creation of wealth, poverty reduction, prevention of youth restiveness and food nutrition security.

The subsector would contribute to the advancement of the continent.

The acting director of The African Union – Interafrican Bureau for Animal Resources (AU-IBAR), Dr. Nick Nwankpa, stated that the importance of institutional collaboration for the sustainable exploitation and management of fisheries, aquaculture and other blue economy resources gained recognition by the project. When coordinated well enough, the fisheries governance would take cognizance of functions of the various African Union Commission (AUC) departments. It would contribute immensely to the integrated development of the sector and the socio-economic advancement of the continent.


Related Links

Worldfish: Website

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Ask Nigeria
1 day ago

Aquaculture adds almost 5% to Nigeria’s GDPThe fisheries and aquaculture subsector is significant to Nigerian economy.Express your point of view.

Tjbae
Member
23 seconds ago

Fishing is a very good business I think government should help,encourage and empower people to it

Khalifa001
Member
7 hours ago

I think the government should help people more in this aspect because most people consume this things daily

Tonerol10
Member
10 hours ago

it is a very good business. Government should encourage fishing

Abusi
Member
11 hours ago

This is a good development. Investment in the aquaculture has helped to improve the economy. It has also helped to subside the influx of importation of fish. This shows we are also production country and we should do enough to continue to manage our aquaculture resources well.

SarahDiv
Member
11 hours ago

If government could invest in aquaculture more revenue will be made rather than depend on crude oil at all time. This will also reduce the level joblessness being experience in our country.

Dimeji0711
Member
12 hours ago

This is an improvement to our economy. We are indeed blessed with a lot of resources. More attention and investment should be pay to this so as to increase productivity and continuous developing.

Okunloye123
Member
13 hours ago

Nigeria is indeed blessed with a lot of resources, but we don’t utilize them.

Fishery is indeed prolific just that no much-helping hand in the sector, and also we should reduce our importation.

Regulating it would enhance its productivity.

Ultra0711
Member
13 hours ago

There are some certain sector and industry in Nigeria that can contribute more and help develop our economy but the the government choose to ignore it. Sector like Aquaculture, Agriculture and coca industry should never been ignored in Nigeria rather we should invest more in it cause it will yield well for us

Iyanu12345ogg
Member
15 hours ago

The Government should give adequate support to the ministry because it is highly beneficial to the country’s economy, it creates employment opportunities and ready to create more if funded by the government. Also a body to guide and regulate the activities of these fishermen for more organised and better performances.

Adesanyaj72
Member
15 hours ago

This fishing business has really helped lift a lot of low-income families out of poverty; this government has to do more for this ministry

Kazeem1
Member
15 hours ago

The fisheries and aquaculture subsector will be of additional assistance to the Nigerian economy, particularly in terms of generating other employment possibilities for the populace.

Godsewill Ifeanyi
Member
15 hours ago

A body should be in charge of regulating the activities of these fishermen so that they will be more organised and perform better

Bola12
Member
15 hours ago

The government should lend its support to the ministry in order to increase domestic production and cut down on imports.

Yomii
Member
16 hours ago

The government should be analysing each and every item and coming up with governance strategies that are both sustainable and feasible for application in order to increase fish output in Africa.

Chibuzor
Member
16 hours ago

The aqua sector can contribute more if the fishermen invests more time and energy in it. It will go a long way for us

DimOla
Member
16 hours ago

It will really generate huge revenue for the country and create more employment opportunity if well funded by the government.

Tolaniiii
Member
18 hours ago

More improvement in this aqua sector would bring more wealth to us. The government should set a budget for it

Last edited 18 hours ago by Tolaniiii
Taiwoo
Member
18 hours ago

Government needs to do more investment in this aqua culture because it has huge potentials to propel our economy forward

theApr
Member
19 hours ago

All is left now is maximizing this with Investment, empowerment and the likes. Diversification is needed.

Nwachukwu Kingsley
Member
20 hours ago

Fishermen needs more empowerment and sensitization so they’ll be more productive in this sector and be a boost to our economy

jdpumping
Member
20 hours ago

Government needs more funds to support the maritime sectors …Nigeria consumption of fish is large and enough needs to be put in.plave in order for.more revenue to be gotten from this area

Remi1
Member
22 hours ago

Fish farming has really helped a lot in providing both monetary and consumption benefits. It has helped a lot

Hassan Isa
Member
22 hours ago

We need to support our fishermen because this is a sector that is highly beneficial to our economy

Haykaylyon26
Member
1 day ago

Fisheries and aquaculture improve our economy, this is a improvement to the economy. there should be more improvement to it so it will improve it more not to neglect it later on. Every sectors should be improve so they will contribute to the economy of the country