In a major step towards improving Nigeria's food security and reducing its dependence on imported fish, the Federal Government, in collaboration with the Food and Agriculture Organization (FAO), has launched a ₦200 million support scheme to expand local fish farming across the country.
Unveiled under the FISH4ACP project at the Eriwe fish farming cluster in Odogbolu, Ogun State, the initiative—"Scaling Fish Farming through Finance"—aims to address one of the biggest hurdles for local aquaculture: limited access to finance.
According to the Director of Fisheries and Aquaculture at the Federal Ministry of Marine and Blue Economy, the scheme targets feed-related expenses, which have significantly risen and burdened small-scale farmers. He stressed that Nigeria's vast water resources could support large-scale fish production if fish farmers are empowered with the right tools and financial support.
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The FAO's representative for Nigeria and West Africa underscored the urgency of halting the country's yearly importation of over two million metric tonnes of fish, citing that the FISH4ACP project—primarily funded by the European Union—is structured to remove financial bottlenecks and enable fish farmers to scale up operations.
Under the pilot phase, 40 fish farmers will receive between ₦2.5 million and ₦5 million each, summing up to ₦200 million in total disbursement. The intervention is expected to help the selected farmers grow their businesses, increase domestic fish supply, and contribute to closing the demand gap.
The EU Programme Manager for Agriculture remarked that the FISH4ACP project is being implemented in 12 countries, with Nigeria receiving the highest allocation due to its critical role in advancing aquaculture across West Africa.
Beyond production, the initiative is projected to generate employment, stimulate value chain opportunities in aquaculture, and support Nigeria's broader national food security strategy.
