The National President of Fisheries Cooperative Federation of Nigeria Limited, Muhammad Laminu, claims that outdated regulations cause the Nigeria Fishing Industry to lose more than $70 million annually. He emphasized that many of the current policies were developed decades ago and are therefore ill-equipped to handle the complexity of marine crime or the realities of contemporary fishing methods. According to experts, these antiquated rules do not have the enforcement tools necessary to effectively prevent illicit, unreported, and unregulated (IUU) fishing or safeguard Nigeria’s territorial waters from exploitation.
These antiquated laws have created loopholes that not only impair governance but also enable illicit activity that jeopardizes the nation’s Economy and marine resources. Laminu underlined that the Federal Department of Fisheries’ capacity to govern the industry is hampered by a lack of funds, corruption, and enforcement. He called on the government to implement extensive reforms, modernize fishing regulations, and boost financing to preserve the country’s fishery and stop the invasion of foreign trawlers. Laminu also disclosed capacity-building programs in order to inform members about sustainable fishing methods and the importance of regulatory compliance.
Growing calls for reform as the industry struggles.
Calls for critical reform in the industry are growing louder over the years. Numerous voices have underlined the exigent pace to reform the fishing regulations, illicit activity, and poor management that have put the sector in jeopardy. Many pointed out that the industry is, in fact, struggling to survive and possibly on the verge of collapsing as it seems little, or no attention has been paid to the sub-sector over the years. Stakeholders are currently advocating for improved monitoring systems, harsher sanctions for illicit activity, and revised Legislation that includes sustainable fishing methods.
Industry observers and experts have frequently emphasized Nigeria’s fishing industry’s unrealized potential to generate billions of Naira and make a substantial economic contribution to the country. Despite this potential, the industry is being plagued by issues such as, lax law enforcement, illicit, unreported, and unregulated fishing, and other maritime crimes, and is instead a shadow of what it could be. These issues not only endanger marine ecosystems, but also jeopardize Economic Expansion and the means of subsistence for millions of people.
Economic and environmental cost of govt inaction.
Several other stakeholders lament the appalling state of the fisheries and aquaculture industry, arguing that Nigeria should be a leader considering its vast coastline and wealth of marine resources. Instead, outdated rules and a lack of government attention have created an environment that is characterized by inefficiency and exploitation. For instance, foreign fishing vessels frequently encroach on Nigerian waterways. These illegal operations deplete fish stocks and also rob the country of substantial Revenue that could be reinvested in infrastructure, employment, and community development.
This has led to a drastically decrease in fish populations, endangering the livelihoods of millions of Nigerians who rely on the fishing sector and its sustainability. The potential for the fishing industry to diversify Nigeria’s economy has been a recurring point of discussion among industry players, especially in the face of declining oil revenues. Despite the government’s occasional pledges to address these issues, progress has been slow, and stakeholders believe that political will is sorely lacking.
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To address the overall challenges, calls for change have centered on updating fishing regulations, boosting funding for surveillance and monitoring systems, and toughening sanctions for illicit fishing. Stakeholders have also emphasized the significance of community engagement, global collaborations, and increased political will in order to address the structural issues impeding the sector’s expansion and contribution to the economy. Nigeria’s fishing industry is at a crossroads, with stakeholders urging the government to take decisive action before the situation worsens.