Fish Farming, A Lucrative Business-FG

The Federal Government says Nigeria is saving the sum of N300 million annually from the substitution of imported fish feeds with an estimate of 25 percent of the 45,000 metric tonnes imported into the country.

The Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina who made the disclosure at a ministerial platform recently in Abuja revealed to The Tide source that the country spends at least N117.7 billion annually on the importation of fish feeds.

He said that government was partnering with four major investors in feeds production which he said has been identified to increase capacity to meet local demand.

He said the investors included grand cereals in Jos, Durante in Oyo State, Wonder Feeds in Kaduna State and Multifeeds an Israeli Company all of which he said had declared interest in massive feeds production.

The minister also stated that government has completed the training of 120 potential investors in the new all male Tilapia production technology to improve total yield, adding that the present government was diversifying production fish from artisation to aquaculture and exploring commercial opportunities.

He said the government has planned adequate production of fingerlings and juvenile fish to bridge the supply gap in the national demand to produce 1.25 billion of fish “Seed” per year, 400,000 metric tones of fish feeds and the development of brood-stock bank.

He noted with delight that a high volume of local fish feed producers in the 36 states and Abuja in collaboration with Nigeria Institute of Oceanography and Marine Research (NIOMR) has been achieved.

A researcher and Botanist with the institute while speaking revealed that the inability of Nigerians to produce enough fish for consumption has led to massive fish importation.

“Nigeria spends about N50 billion on fish importation annually to meet its yearly fish demand and of 1.5 million tones but we can only boast of producing 500,000 tonne4s of fish which is only one third of the fish needed in the country annually”, she said.

She frowned at the rate of importation of fish from foreign countries when they could be reated in Nigeria, a situation she described as adverse on the country’s foreign reserve.