Minister of Marine and Blue Economy Adegboyega Oyetola has urged investors and financial institutions to expand investment across Nigeria’s catfish production
The Federal Government has called on investors, commercial banks and development finance institutions to increase investment in Nigeria’s catfish industry, citing a domestic fish supply deficit of approximately 2.2 million metric tonnes as a major opportunity for agricultural expansion, job creation and import substitution.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, made the appeal on Wednesday, 11 November 2026, at a high-level roundtable on scaling sustainable catfish value chain transformation in Abuja, organised under the Fisheries and Aquaculture for Africa, the Caribbean and the Pacific (FISH4ACP) programme.
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Oyetola said Nigeria requires approximately 3.6 million metric tonnes of fish annually, while domestic production from aquaculture and capture fisheries stands at about 1.4 million metric tonnes. The difference leaves the country reliant on imports to meet domestic demand.
He described the production gap as both an economic opportunity and a food security challenge, arguing that increased local production could reduce import dependence, strengthen domestic supply and create sustainable livelihoods.
Nigeria is Africa’s second-largest aquaculture producer and a leading producer of farmed African catfish. However, the minister stressed that expanding the industry would require investment beyond fish farming itself.
Investment Opportunities Extend Beyond Fish Farming
Oyetola identified commercial opportunities across the catfish value chain, including hatcheries, feed manufacturing, equipment production, transportation, processing, cold-chain services and fish trading.
He said these interconnected activities could generate wider economic benefits by supporting businesses and employment beyond primary agricultural production.
The minister also identified access to quality fingerlings, affordable feed, appropriate financing, effective fish health management and reliable markets as essential requirements for expanding domestic production.
High feed and energy costs, inconsistent supplies of quality fingerlings, inadequate fish health management and weak biosecurity remain among the constraints limiting the industry's growth.
He described these challenges as potential investment opportunities, particularly for businesses willing to establish modern hatcheries, produce affordable feed, develop processing facilities and improve cold-storage and logistics infrastructure.
Government Urges Banks to Provide Suitable Financing
The minister called on commercial banks and development finance institutions to develop financing arrangements that reflect the operational realities of fish farming.
He argued that conventional lending structures can make it difficult for viable aquaculture businesses to access credit because loan disbursement and repayment schedules do not always align with production cycles and cash flows.
Oyetola said financing should account for the time required to raise fish, reach marketable sizes and generate revenue, rather than impose repayment conditions that place unnecessary pressure on operators.
He also pledged stronger engagement with development finance institutions to improve access to affordable credit, sector data, research, quality assurance and technical support.
The minister advocated aquaculture clusters and cooperative arrangements to reduce operating costs, encourage shared infrastructure and improve farmers' access to production services.
FISH4ACP Supports Improvements Across Catfish Value Chain
Oyetola acknowledged the contributions of FISH4ACP, which supports the development of more productive, inclusive and sustainable fisheries and aquaculture value chains across 12 countries in Africa, the Caribbean and the Pacific.
The programme is implemented by the Food and Agriculture Organisation (FAO), with funding from the European Union and the German Federal Ministry for Economic Cooperation and Development.
In Nigeria, its interventions focus on improving the catfish value chain through better farming practices, hatchery management, broodstock improvement, business development and digital farm management.
The programme has also explored alternative feed ingredients, including black soldier fly larvae, as a potential way to reduce dependence on conventional feed inputs and improve production efficiency.
Oyetola said these interventions demonstrated the importance of coordinated support across production, processing and distribution rather than focusing exclusively on increasing the number of fish farms.
He also called for greater participation by women, young people and small and medium-sized enterprises, while emphasising the need to balance industry expansion with environmental sustainability.
Implications for Agricultural Investment and Infrastructure
The government's appeal highlights the investment requirements of a sector whose growth depends on more than access to farmland and fish ponds. Reliable electricity, water supply, processing facilities, storage infrastructure and transportation networks will all influence the commercial viability of expanded aquaculture production.
For investors, the opportunities extend to infrastructure and supporting services that can reduce production costs and limit post-harvest losses. Cold-chain facilities, feed-processing plants and modern hatcheries could become important components of a more integrated domestic fish industry.
The sector's expansion could also create demand for industrial and commercial property suitable for processing, warehousing, distribution and logistics.
However, closing the 2.2 million-tonne supply gap will depend on whether the government and private sector can address persistent financing and infrastructure constraints while improving productivity across the value chain.
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