Oyetola says government wants capital, technology and expertise while protecting artisanal fish producers……
The Federal Government is seeking to attract fresh investment into Nigeria’s fisheries and aquaculture industry as it moves to address infrastructure and technology gaps affecting the sector.
Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this after meeting a delegation from Turkish fisheries company, CRD Impex, led by its representative, Cem Tarhan.
Oyetola said the discussions focused on investment opportunities in Nigeria’s fisheries sector, with the Turkish company indicating interest in bringing its experience and investment capacity into the country.
The minister made the disclosure in a post on X on Thursday.
According to Oyetola, CRD Impex has extensive experience in fisheries and aquaculture and is assessing opportunities to participate in Nigeria’s fisheries value chain.
“We welcome investors who can bring capital, technology, expertise and modern value-chain solutions to the sector,” he said.
He, however, stressed that foreign investment must also take into account the interests of local fish producers, particularly artisanal operators whose livelihoods depend on the sector.
“However, investments must complement and empower our artisanal fish producers, not undermine their livelihoods,” the minister said.
Oyetola said the government was working to create conditions capable of attracting credible investors from within and outside Nigeria while ensuring that new investments contribute to a more inclusive and sustainable fisheries industry.
The minister identified several challenges limiting the growth of Nigeria’s fisheries sector, including inadequate infrastructure and limited access to modern fishing technology.
He also pointed to difficulties around fish processing and storage, weak cold-chain systems and insufficient access to markets.
According to him, addressing these shortcomings could unlock opportunities across the fisheries value chain, from production and processing to storage, distribution and marketing.
Oyetola said improved investment and technology could help increase productivity while creating better economic opportunities for local fish producers.
As part of the engagement with the Turkish company, the CRD Impex delegation, accompanied by officials of the Federal Ministry of Marine and Blue Economy, visited fisheries and aquaculture facilities in different parts of the country.
The visits were intended to give the investors a direct understanding of Nigeria’s fisheries operations and the opportunities and challenges across the value chain.
Oyetola said the government would continue discussions with responsible investors and local stakeholders as it seeks to modernise the industry.
He said the broader objective was to turn existing constraints into opportunities while building a fisheries sector that is more productive, commercially viable and sustainable.
