Industrial Fishing Only Supplies 10% of Nigeria's Annual Capacity

News in brief:

-Nigeria’s industrial fishing sector meets just 10 per cent of demand despite higher capacity potential.

-Policy bottlenecks, insecurity, and declining investment continue to hinder growth in the sector.

Nigeria’s industrial fishing sub-sector is operating significantly below its capacity, meeting only about 10 per cent of national fish demand despite having the potential to supply up to 35 per cent.

Available data shows that the sector contributes between one per cent and four per cent to Nigeria’s total domestic fish production, underscoring its limited role in the broader fisheries value chain.

Artisanal and Aquaculture Dominate Production

Although Nigeria produces over one million metric tonnes of fish annually, the bulk of this output comes from artisanal fishers and aquaculture operators.

Large-scale industrial fishing operations account for only a small fraction of total production, reflecting structural inefficiencies within the sector.

Stakeholders attribute the sector’s underperformance to a combination of policy constraints, insecurity, and operational challenges.

Key issues include the classification of fishing trawlers under the Cabotage regime, frequent attacks on fishing vessels, and regulatory bottlenecks that have discouraged investment.

These factors have collectively weakened productivity and reduced the industry's competitiveness.

Sharp Decline in Fleet and Operators

Industry data indicates a significant drop in operational capacity over the past two decades.

While about 40 companies operated more than 250 industrial fishing vessels roughly 23 years ago, fewer than 100 vessels are currently active.

According to the Nigerian Trawler Owners Association (NITOA), only 12 fishing companies remain operational despite investments exceeding $5.2 billion in infrastructure and equipment.

The association noted that although its members have invested heavily in jetty facilities, vessels, and related infrastructure, harsh operating conditions have forced many firms out of business.

It added that only about 130 vessels are currently functional, far below the sector’s historical capacity.

Untapped Potential for Jobs and Exports

NITOA emphasised that the sector has the potential to boost non-oil foreign exchange earnings, create jobs, and reduce Nigeria’s dependence on fish imports.

It stated that improving production capacity could significantly raise local supply and strengthen the country’s fisheries value chain.

Stakeholders warned that without urgent intervention to address policy inconsistencies, improve maritime security, and create a more enabling business environment, the sector may continue to decline.

They cautioned that sustained underperformance could widen Nigeria’s fish supply gap and increase reliance on imports.

Nigeria’s industrial fishing sector remains a largely untapped economic asset constrained by policy, security, and operational challenges. Addressing these issues could unlock significant gains in food security, employment, and non-oil revenue generation.