In a strategic move to reduce Nigeria’s reliance on fish imports and close the nation’s 2-million-metric-tonne annual fish supply deficit, the Federal Government, in partnership with the Food and Agriculture Organization (FAO) and key development partners, has rolled out a ₦200 million aquaculture financing scheme under the FISH4ACP project.

The pilot phase of the initiative was launched at the Eriwe Fish Farming Cluster in Ijebu-Ode, Ogun State — one of Nigeria’s largest and most organized fish clusters, spanning 156 hectares. At least 40 fish farmers will benefit from grants ranging from ₦2.5 million to ₦5 million, aiming to scale up fish production, enhance food security, and create jobs, especially for youth and women in the aquaculture value chain.

Speaking at the event, Mr. Wellington Omoragbon, Director of Fisheries and Aquaculture at the Federal Ministry of Marine and Blue Economy, represented by Mr. Paul Opuama, highlighted key challenges facing the fisheries sector. These include limited access to credit, poor infrastructure, climate-related disruptions, and weak governance systems. He emphasized that the new financing model and partnerships with institutions like the FAO and the European Union are vital steps toward empowering fish farmers and revamping the nation’s blue economy.

“Despite our abundant aquatic resources, Nigeria produces only about 1.2 million metric tons of fish annually against a national demand of 3.2 million metric tons,” said Koffy Dominique Kouacou, FAO Country Director for Nigeria and West Africa. “This partnership is geared toward improving fish farmers’ access to finance and technology, and ultimately achieving self-sufficiency in fish production.”

The FISH4ACP project, funded by the European Union (EU) and implemented in 12 countries globally, seeks to build sustainable fisheries and aquaculture industries in Africa, the Caribbean, and the Pacific. According to Hugh Briggs, Agriculture Programme Manager at the EU Delegation to Nigeria and ECOWAS, Nigeria is receiving the largest portion of the €5 million grant allocated to the initiative.

Key highlights of the government’s broader aquaculture support strategy include:

• Establishment of cold storage infrastructure to reduce post-harvest losses
• Training and capacity-building programs for fish farmers on best practices
• Construction and rehabilitation of landing sites and jetties
• Coordinated disaster relief efforts for fisherfolk affected by environmental shocks

The initiative is designed not only to increase local fish production, but also to improve nutrition, reduce unemployment, and contribute to Nigeria’s overall agricultural transformation goals.

Why This Matters

Nigeria currently spends over $1.2 billion annually on fish imports. Supporting homegrown aquaculture initiatives like this one is key to strengthening the national food system, improving rural livelihoods, and aligning with the Sustainable Development Goals (SDGs), particularly SDG 2 (Zero Hunger) and SDG 14 (Life Below Water).