Investments and employment opportunities in the aquaculture sector in Nigeria

Nigeria is a large fish consuming nation with a total consumption at more than 1.2 million tonnes, with fish imports making up about two thirds (700,000 t) of the fish supply. Although the contribution of fisheries to the Gross Domestic Product is only 3-4%, it occupies a very significant position in the primary sector providing employment for over a million people (FDF Statistics) and contributing about 50% of the animal protein intake of the population, particularly the resource poor. The estimated national demand for fish is estimated as high as 1.3 million metric tons with a wholesale value of more than $US 1 billion. Of this, the Federal Department of fisheries (FDF) estimated 511,000 tones are provided domestically or only about one third of demand, with an estimated per capita fish consumption ranging from 7.5-12 kg. With the current policy thrust towards fisheries development, there is excitement among stakeholders in private sector fish farming as shown by the expansion and renovation of existing farms and investments in few fish farms and hatcheries. This has brought the industry to a retail production value of N180 million. This development is not however without some challenges. Fish producers have rushed ahead with the production without support of a developed values chain. This gap is providing an entry point for interventions to greatly facilitate expansion of services in the value chain for this exciting industry. This paper therefore seeks to provide guidance on how to strategically focus aquaculture activities to capitalise on opportunities for increased employment and incomes