Nigeria Seeks World Bank Funding To Boost Fish Farming And End Import Dependency.
The Nigerian government has announced ambitious plans to transform the nation’s aquaculture sector, aiming to eliminate reliance on fish imports through increased local production and targeted support for fish farmers. Adegboyega Oyetola, the Minister of Marine and Blue Economy, outlined this vision during a high-level consultative meeting with fisheries cooperative groups in Abuja on Wednesday, 16 July 2025.
Oyetola declared that Nigeria must forge a path towards self-sufficiency in fish production, a move he described as critical for food security, job creation, and economic growth. “We will scale up domestic fish production, reduce dependency on imports, and reposition the sector for sustainable growth,” he stated. The minister highlighted the government’s commitment to supporting the fisheries and aquaculture sector through robust policy reforms, technical assistance, and financial inclusion initiatives.
To address the challenges facing fish farmers, the Federal Ministry of Marine and Blue Economy is engaging both local and international stakeholders. Oyetola revealed that discussions are underway with the World Bank to secure funding to bolster the sector. Additionally, the ministry is collaborating with the Nigerian Agricultural Insurance Corporation (NAIC) to provide affordable and accessible insurance coverage for fish farmers nationwide. “This financial support will empower farmers to overcome risks and scale their operations,” Oyetola noted.
The minister also announced plans to replicate the successful aquaculture model at Oyan Dam across other regions, in partnership with the Federal Ministry of Water Resources. This initiative is part of a broader strategy of inter-ministerial cooperation aimed at driving sustainable growth in the sector. “Integrated planning is at the heart of our approach,” Oyetola said, adding that the meeting marked the start of a “sustained and transformative dialogue” with stakeholders.
The consultative meeting brought together leaders from key fisheries and aquaculture associations, including the Fisheries Cooperative Federation of Nigeria (FCFN), Tilapia Aquaculture Developers Association of Nigeria (TADAN), Catfish Farmers Association of Nigeria (CAFAN), Women in Fish Farming and Aquaculture, and the Practising Farmers Association of Nigeria. These groups raised concerns about issues such as overfishing, limited access to financing, and post-harvest losses, which the minister pledged to tackle head-on.
A significant focus of the government’s plan is empowering women and youth in the fisheries sector. Oyetola announced that start-up grants and other empowerment initiatives are already in the pipeline, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises economic diversification and youth engagement. “Empowering young people in aquaculture is not only vital for food production but also a strategic way to address unemployment,” he emphasised.
Mashi Sani, President of the Fisheries Cooperative Federation of Nigeria, proposed a Sustainable Livelihoods and Fish Food Security Initiative (SLESI), which he estimated would require a three-year budget of N75 billion. The initiative aims to create one million sustainable jobs, reduce post-harvest losses by 50%, and boost national fish production by 35%. Sani stressed the sector’s critical role in food security, income generation, and nutrition, particularly in rural communities.
The Permanent Secretary of the Ministry, Olufemi Oloruntola, underscored the government’s readiness to form strong partnerships with cooperative societies to ensure inclusive growth. He noted that the meeting fulfilled commitments made during the ministry’s second-quarter stakeholders’ engagement in Lagos earlier in July.
With Nigeria currently meeting only 30% of its fish demand through local production and spending approximately $1.2 billion annually on fish imports, the government’s push for self-sufficiency is timely. Oyetola’s initiatives signal a bold step towards transforming aquaculture into a cornerstone of Nigeria’s economy, fostering sustainable development, and reducing the nation’s reliance on foreign fish supplies.
