- Nigerian fisheries underutilized despite global export potential.
- Government support crucial for economic growth and job creation.
- Technology vital for sustainable development in the blue economy.
Maritime stakeholders in Nigeria are lamenting the untapped potential of the country’s fisheries industry, citing missed opportunities for economic growth and job creation. Despite being one of the world’s top fisheries exporters, Nigeria’s sector remains underfunded and underregulated, hindering its full potential.
Advancing Nigeria’s Blue Economy through Fisheries Development
Stakeholders at the recent annual conference of the Alumni Association of Federal College of Fisheries and Marine Technology underscored the pivotal role of Nigeria’s blue economy in national development. They highlighted the fisheries sector as a cornerstone for economic growth, emphasizing its potential to reduce import dependency and boost GDP through increased exports. Calls were made for the government to prioritize the sector with comprehensive policies, adequate funding mechanisms like grants and loans, and stringent yet supportive regulations. Furthermore, technology was identified as a transformative tool to achieve sustainability in fisheries management and marine resource utilization, thereby enhancing socio-economic benefits.
In conclusion, Nigeria stands at a critical juncture where decisive governmental action and strategic private sector engagement can unlock the vast potential of its fisheries sector. By prioritizing sustainable practices, leveraging technology, and ensuring equitable distribution of benefits, the nation can harness its blue economy to drive inclusive growth and environmental stewardship.
