The Federal Government, in partnership with the Food and Agriculture Organization (FAO), has launched a ₦200 million aquaculture support initiative aimed at boosting local fish production and reducing Nigeria’s reliance on fish imports.
The initiative, titled “Scaling Fish Farming through Finance”, a component of the FISH4ACP project was formally inaugurated at the Eriwe fish farming cluster in Odogbolu, Ogun State. The project is expected to significantly enhance Nigeria’s aquaculture capacity and help meet the country’s rising demand for fish.
Speaking at the launch, Mr. Wellington Omoragbon, Director of Fisheries and Aquaculture at the Federal Ministry of Marine and Blue Economy, emphasized the importance of the initiative in promoting sustainable fisheries.
Represented by Mr. Paul Opuama, Director II in the ministry, Omoragbon noted that despite Nigeria’s abundant water resources, fish production continues to fall short of demand.
“One of the biggest challenges facing fish farmers in Nigeria is access to finance, particularly due to the soaring cost of feed,” he said. “Through this partnership, we can help our farmers scale their operations and close the fish production deficit.”
Omoragbon also commended FAO and other development partners for their ongoing support in strengthening Nigeria’s aquaculture sector.
FAO’s Representative in Nigeria and to ECOWAS, Mr. Koffy Kouacou, highlighted the urgency of reducing the country’s annual fish importation, which currently stands at over two million metric tonnes. He explained that the initiative is designed to improve access to financing for fish farmers, with the aim of increasing local production and reducing imports.
“This project, supported by the European Union and other partners, will enable 40 fish farmers to receive between ₦2.5 million and ₦5 million each during the pilot phase,” Kouacou stated. “Our goal is to empower these farmers to expand their operations, create more aquaculture-related business opportunities, and produce more fish locally.”
The launch event brought together stakeholders from government, development agencies, and financial institutions. Kouacou emphasized the collaborative nature of the project, noting the involvement of both the Ogun State Government and financial partners.
Also speaking at the event, Mr. Hugh Briggs, Programme Manager for Agriculture at the European Union Delegation to Nigeria, revealed that the FISH4ACP project is currently being implemented in 12 countries worldwide, with Nigeria receiving the largest portion of the grant funding.
He described the initiative as a strategic step toward achieving food security, empowering small-scale fish farmers, and ensuring the long-term sustainability of Nigeria’s aquaculture sector.
The Scaling Fish Farming through Finance initiative is expected to serve as a model for future interventions in the agriculture sector, demonstrating the value of coordinated support, sustainable finance, and public-private collaboration in closing Nigeria’s fish production gap.
