Nigeria’s Fish Supply Deficit Creates N23 Trillion Investment Opportunity
Story: Written By okafor Jsoeph August 18,2025
Nigeria’s huge fish supply gap has created an investment opportunity valued at over N23 trillion, according to industry experts.
Despite being Africa’s most populous nation with a growing demand for seafood, Nigeria produces only a fraction of what it consumes. Data from the Federal Ministry of Agriculture and Food Security shows that the country requires more than 3.6 million metric tonnes of fish annually but produces less than 1.2 million metric tonnes, leaving a deficit of over 2.4 million metric tonnes.
To bridge this gap, Nigeria spends billions of naira on fish imports each year, with experts warning that the trend poses risks to food security and foreign exchange reserves.
Analysts believe the shortfall offers a huge business opportunity for both local and foreign investors in aquaculture, industrial fishing, processing, and cold-chain logistics. If fully harnessed, the market could generate over N23 trillion in revenue while creating jobs and boosting Nigeria’s agricultural GDP.
Stakeholders in the fisheries sector have consistently called for increased investments in hatcheries, feed production, and modern fish farms to reduce reliance on imports. They argue that Nigeria’s vast water resources, including rivers, lakes, dams, and its 853 km Atlantic coastline, provide natural advantages for large-scale fish production.
The Federal Government has pledged to support the industry with policies that encourage private sector participation, financing for smallholder fish farmers, and the expansion of local aquaculture clusters.
Experts say that if the supply deficit is reduced, Nigeria could not only achieve self-sufficiency in fish production but also become a net exporter of seafood within the next decade.
