Stakeholders in Nigeria’s fisheries and aquaculture industry have agreed on a series of strategic interventions aimed at attracting investment, reducing production costs and strengthening the sector’s value chain.

The commitments were reached at a national partnership dialogue in Abuja themed Building Partnerships to Unlock Investment Opportunities in the Fisheries and Aquaculture Value Chain. Key proposals include developing an investment readiness framework for fish farmers, introducing specialised aquaculture financing, researching alternative fish feed ingredients and expanding investment in the blue economy.

The discussions focused on structural challenges affecting the industry, including high feed costs, limited access to finance, weak enforcement of quality standards, inadequate sector data and poor coordination among value-chain participants.

The dialogue was convened by the Fisheries and Aquaculture Multi Stakeholder Platform, with support from the Food and Agriculture Organization of the United Nations (FAO) through its FISH4ACP programme and facilitation by Sahel Consulting Agriculture and Nutrition Ltd.

Five priority areas identified

Participants identified five priority areas for intervention: feed and inputs; seed, health and biosecurity; processing, markets and trade; finance and investment; and data, standards and knowledge management.

According to the meeting’s communiqué, the One Health and Development Initiative (OHDI) has started developing a finance and investment readiness framework in collaboration with relevant stakeholders. Other participating organisations are expected to advance commitments within their respective areas.

Under feed and input development, Usmanu Danfodiyo University and the Agricultural Research Council of Nigeria will support efforts to promote clupeid production. The Federal University of Agriculture, Zuru, and the University of Abuja will focus on Black Soldier Fly production.

Flourishing Center Fish and Agro Farm and MYRA Farms were also identified to promote aquatic plant production as part of efforts to diversify feed ingredients and lower production costs.

Usmanu Danfodiyo University and the University of Abuja will additionally conduct a baseline survey of producer capacity and assess the production potential of Black Soldier Fly and Azolla to guide investment decisions.

Improved fish health, standards and market access

The Federal Ministry of Livestock Development is expected to provide aquatic veterinary services and collaborate with the Federal Ministry of Marine and Blue Economy to establish standard biosecurity protocols.

To improve product quality and competitiveness, NAFDAC, the Standards Organisation of Nigeria, the Nigerian Export Promotion Council, the Nigerian Investment Promotion Commission, NICERT and the Federal Department of Fisheries were identified to support the harmonisation of industry standards.

Farmers’ groups and AWFishnet will work to improve post-harvest management, while the Federal Department of Fisheries and Aquaculture and the National Information Technology Development Agency will support stronger sector data systems.

These interventions are intended to address gaps in quality assurance, post-harvest handling and information that affect the development of the fisheries and aquaculture value chain.

Specialised financing proposed for aquaculture businesses

Access to affordable finance emerged as a central priority, with stakeholders highlighting the need to improve farmers’ investment readiness and attract more private capital into aquaculture businesses.

OHDI committed to developing a finance and investment readiness framework with relevant stakeholders, including the Federal Ministry of Marine and Blue Economy. The framework is intended to help fish farmers meet investment requirements and access available funding opportunities.

Sterling Bank Plc pledged to develop and introduce a specialised financing product tailored to aquaculture businesses.

Blue Economy Research and Investment Limited, with support from NIRSAL, was also identified to facilitate the establishment of an Aquaculture Development Fund.

The World Aquaculture Society pledged to support collaboration among OHDI, Sterling Bank and Blue Economy Research and Development to strengthen research, development and investment opportunities in the blue economy.

Stakeholders set implementation timelines

The communiqué called on relevant government institutions to upgrade feed millers’ facilities, harmonise existing standards, establish a national broodstock bank and strengthen sector data management within 90 days.

The Federal Department of Fisheries and Aquaculture was also requested to disseminate the finance and investment readiness framework to farmers within six months.

The commitments provide a framework for coordinated action across financing, production inputs, animal health, processing, market development and sector data, with the broader objective of making Nigeria’s fisheries and aquaculture industry more attractive to investors.