How Nigeria spends $1.2bn to import fish annually – Emefiele

Share To Earn

Fish farmers in Nigeria
Fish farmers in Nigeria

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele says about 1.2 billion dollars worth of fish is imported into the country annually.

Emefiele disclosed this in Abuja on Thursday while briefing some state Governors and the media on the feat recorded so far in agriculture for economic growth.

He explained that current fish production stood at 0.8 million tons while the demand was 2.7 million tons, giving a deficit of 1.9 million tons.

He said the apex bank’s current initiative was to engage the coastal state governors to develop the blue economy to address the deficit of 1.9metric 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 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.

READ ALSO  Nigeria's central bank licenses three new banks

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 a revised proposal to their respective sponsoring banks,” he said.

The News Agency of Nigeria (NAN) reports that Governors of Ekiti, Adamawa, Lagos, Ogun, Benue, Zamfara, Kebbi, Jigawa, Sokoto, Bauchi, Gombe, Katsina, Anambra, Imo, Edo, and Borno states attended the meeting.

Source: NAN

Leave your vote

2 points
Upvote Downvote

Share To Earn
Updated: September 26, 2019 — 4:34 pm

10 Comments

  1. This is very good business one can set up ,Nigerian men and women are really working hard to make sure ends meet for their survival.

  2. That money is too much, but there is fish here in our country. Nigerian government should stop importing fish

  3. But this is too much why not the government look for other means of fish production instead of spending such amount on import fish.

  4. This is rely a great oppotunity coming for nigerians, this will increase job creasion and along side boast our economic

  5. A major impediment to the purposed fish production proposed would be policy put in place without implementation

  6. That’s what the government find interested to do because there is enough gain in doing that

  7. Good to hear because the money we have been using to import fish annaully is to much so I hope this will help.

  8. But this is too much now, why don’t the government device other means of fish production instead of spending such amount

  9. Wow!!!this is very good, because most of the citizens eats fish most.

  10. What is the government doing to curtail this as we can also export fish to other countries.

Comments are closed.

PLS NOTE: You will earn ₦2 for each approved comment and you will loose ₦100 for each of your comment that violate our comment policy. To avoid violating any part of the comment policy, kindly read it by clicking HERE.

.