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HomeTop NewsNigeria Spends $1.2 Bln To Import Fish Annually, Says CBN

Nigeria Spends $1.2 Bln To Import Fish Annually, Says CBN

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Nigeria spent about $1.2 billion annually to import fish consumed in the country in spite of the abundance of fish within its territorial seas.

According to the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, current local fish production stood at 0.8 million tons while the demand was 2.7 million tons, leaving a deficit of 1.9 million tons.
He said the regulatory bank’s current initiative was to enagage the coastal state governors to develop the blue economy to address the deficit of 1.9 metric tons as well as eradicate the huge import bill for fish.
According to him, this is a very huge economic opportunity for the states to create an enabling environment for investors.
In a similar development, the CBN governor said that major innovation to deepen the poultry business was the recent partnership between the bank and tertiary institutions to pilot the “The University–Based Poultry Production Programme” in twelve 12 Universities across the six geo-political zones.
He added that the objective was not only building future agripreneurs but making the universities able to improve their internally generated revenue.
“For the pilot phase, five Nigerian Universities, namely; Ahmadu Bello University (ABU), Zaria, Federal University of Agriculture Abeokuta (FUNAAB), Rivers State University, Port Harcourt, University of Nigeria, Nsukka and University of Ilorin were enrolled.
“These Universities have submitted revised proposal to their respective sponsoring banks,” he said.

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