Fish Import: Triton Invests $60m In Local Production

In compliance with the
recent Federal Government’s policy on fish importation, which was announced last year by the Minister of Agriculture and Rural Development (FMARD), Dr Akinwunmi Adesina, as a measure to reduce importation of fish into the country, Triton Aqua Africa Limited has disclosed plans to diversify its facility for local production with a $60 million investment in aquaculture.
The company’s Project Director, Mr Yashpal Jain, who stated this during a press conference in Abuja recently stated that the investment will be channelled towards the expansion of its production capacity of 50,000 tonnes of fish within the projected five years investment period, as well as the diversion of their cold room facilities for local aqua-production in line with the reviewed quota guidelines.
The objective of the investment according to Jain is geared towards driving national fish independence as well as turn Nigerian into an exporting country.
As one of the biggest fish importing companies, the review served as an encouragement to the company to diversify into local production as had been part of its original intention upon establishment in the country.
Buoyed with the opportunity of the reviewed quota, Triton has partnered with various state governments in Nigeria with its first production of 2000 metric tonnes of locally produced fingerlings set to be harvested in February from its Lagos ponds.
Triton which has other business ventures including aquaculture and seafood processing, poultry farming and processing as well as distribution of frozen meat, poultry and sea food, is set to embark on production of species such as tilapia which is not yet being produced in the country.
The Triton boss further explained that to facilitate the diversification, the company will set up intensive farming technology in cages in Dams as well as farm ponds in Nigeria backed by state of the art hatchery and feed mills.