By Godswill Michael
The Federal Government has secured a $200 million commitment from the World Bank Group to boost fisheries and aquaculture production in Nigeria and reduce the country’s dependence on imported fish.
The funding, which will be made available to state governments as concessional loans, is expected to expand domestic fish production, attract private investment into the aquaculture sector and address the country’s fish supply deficit.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this through the Senior Special Assistant to the President on Marine and Blue Economy, Professor Busayo Fakinlede, who represented him at an executive training on the Aquaculture Investment Guide organised by the ministry in collaboration with the World Bank Group in Abuja.
Speaking at the event, Oyetola said achieving fish sufficiency required stronger participation from state governments, noting that the Federal Government could not achieve the target without deliberate efforts at the sub-national level.
In a statement issued on Sunday, the minister said, “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.”
Nigeria requires approximately 3.6 million tonnes of fish annually but produces about 1.4 million tonnes, leaving a supply deficit of more than 2.2 million tonnes.
The shortfall is largely met through imports, which cost the country close to $1bn annually in foreign exchange.
To bridge the gap, the ministry is pursuing a state-driven aquaculture development framework under which states are expected to identify priority value chains, assess investment opportunities, develop bankable projects and commit to measurable contributions to national fish production.
The ministry said the $200m World Bank-backed financing would support states in implementing their priorities, expanding production capacity and attracting private investment into the fisheries and aquaculture sectors.
The executive training brought together policymakers and technical officials, including commissioners from Rivers, Bayelsa, Delta and Cross River states, as well as permanent secretaries and directors of fisheries and aquaculture from across the country.
The programme was designed to equip state officials with the knowledge required to translate investment opportunities into viable aquaculture projects, with emphasis on business models, risk management, environmental and social safeguards, and public-private partnerships.
Oyetola commended the World Bank Group for its support for Nigeria’s marine and blue economy development, particularly in analytical studies, cluster-based development, capacity building and the preparation of the Aquaculture Investment Guide.
He also said he would oversee a post-training stakeholders’ roundtable to strengthen engagement with state governments and other stakeholders and ensure the initiative translated into actual investments.
Fakinlede, who attributed the ministry’s progress to Oyetola’s leadership, said the government inaugurated a Technical Committee on Accelerating Fish Production in August 2026 and digitised fish import licensing.
He added that national fish production had increased from 1.1 million tonnes to 1.4 million tonnes.
According to him, Nigeria had also attained shrimp-export certification through compliance with Turtle Excluder Device requirements, while the ministry had developed 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,” Fakinlede added.