By FRED LONGJOHN OBEH

Nigeria’s $866m Seafood Import Bill Exposes Cost of Neglected Fisheries

Seafood Imports Rise Despite Vast Marine Resources

NIGERIA spent $866 million importing frozen fish and seafood in 2025, exposing the gap between the country’s extensive fisheries resources and its domestic production capacity.

Figures from the United Nations Commodity Trade Statistics Database, cited by the Director-General of the International Maritime Institute of Nigeria, Rear Admiral Thaddeus Udofia (retd.), show that the import bill rose from $606 million in 2023 to $688.5 million in 2024 and $866 million in 2025.

According to Udofia, the figures represent a compound annual growth rate of 19.54 per cent. He described the trend as a paradox because Nigeria possesses substantial marine and inland fisheries resources but continues to rely heavily on imported seafood.

Meanwhile, stakeholders estimate that Nigeria imports about two million metric tonnes of fish annually to meet domestic demand. They have therefore urged federal and state governments to revive industrial fishing, strengthen local production and reduce dependence on foreign suppliers.

High Costs & Weak Infrastructure Hold Back Growth

Despite its natural advantages, Nigeria’s fishing industry faces several obstacles. Stakeholders identified illegal, unreported and unregulated fishing, marine pollution, overfishing, ageing vessels and inadequate indigenous fishing capacity as major threats.

Furthermore, high fuel prices, expensive operating costs and limited access to affordable financing continue to discourage investment. Inadequate cold-chain facilities, insufficient fish terminals, limited processing capacity and unreliable fisheries data also constrain production and distribution.

Maritime insecurity and regulatory bottlenecks add to these challenges. Consequently, industry operators argue that Nigeria needs a coordinated strategy that tackles operational costs, improves infrastructure and creates a more supportive environment for local investors.

Udofia noted that Nigeria has an approximately 853-kilometre Atlantic coastline and an Exclusive Economic Zone extending 200 nautical miles offshore. In addition, the country possesses extensive inland waterways, creeks, estuaries and the Niger Delta Basin.

However, he warned that ecological pressures, underinvestment and unsustainable exploitation continue to limit the sector’s potential. He also raised concerns about destructive fishing practices by industrial trawlers, which can damage marine habitats and reduce catches available to artisanal fishermen and coastal communities.

Trawlers Association Calls for Fleet Modernisation

At the Maritime Correspondents’ Organisation of Nigeria (MARCON) National Conference on Sustainable Fishing in Lagos, the Nigerian Trawlers Owners Association (NITOA) called for urgent investment in modern fishing vessels, affordable financing, cold-chain infrastructure and maritime security.

The association’s president, Benedette Okonkwo, represented by Anthony Agwaazor, said industrial fishing could support food security, create jobs, diversify the economy and expand Nigeria’s blue economy.

She argued that modernising the fishing fleet should form the foundation of the sector’s revival. Accordingly, she urged the government and private investors to rehabilitate ageing vessels and replace obsolete equipment with safer, more fuel-efficient alternatives.

Nevertheless, Okonkwo cautioned that fleet expansion must follow scientific assessments of fish stocks. Without effective monitoring, she warned, increased fishing activity could accelerate overfishing and undermine long-term sustainability.

She also advocated affordable long-term loans, fisheries insurance and investment schemes to help operators acquire vessels, purchase equipment, establish processing facilities and meet working-capital needs.

Stakeholders Seek Broader Blue-Economy Investment

Similarly, MARCON President and maritime analyst Ismail Aniemu urged state governments to invest deliberately in fisheries and harness their marine resources to generate jobs, revenue and stronger food supplies.

He argued that Nigeria should look beyond its traditional emphasis on oil and gas and give fishing a more prominent place in its economic diversification strategy. Moreover, he stressed that the sector extends beyond conventional fish catches to include crabs, shrimps, crayfish, octopus and other commercially valuable products.

Aniemu also called for greater attention to processing and exports rather than concentrating primarily on cargo and container traffic. At the same time, he warned that marine pollution, illegal fishing and limited indigenous participation required urgent action.

Proposed Fishing Port Offers New Investment Prospects

Meanwhile, the Nigerian Ports Authority (NPA) has announced plans to develop a specialised fishing port to expand trade and strengthen the blue economy.

The NPA Managing Director, Abubakar Dantsoho, disclosed the proposal at a Lagos event, where Assistant General Manager for Corporate and Strategic Planning Adegbite Adewumi represented him. According to Dantsoho, private investors could participate through a public-private partnership arrangement.

He also said KLT had been designated a dedicated fish terminal with cold-room facilities. In addition, plans to improve export-processing facilities and hinterland connectivity form part of wider efforts to improve the handling of fish and other perishable goods.

Retired Deputy Comptroller-General of Customs Dera Nnadi, now a trade and maritime consultant, said Nigerians consume more than three million metric tonnes of fish annually, leaving a supply gap of about two million tonnes that imports largely fill.

Beyond domestic consumption, he highlighted the export potential of ornamental fish species found in Nigerian waters. He said more than 18 special species were exported and estimated the country’s fish economy at approximately ₦25 trillion.

Ultimately, stakeholders say Nigeria must translate its natural advantages into productive capacity. By investing in vessels, infrastructure, processing, research and sustainable fisheries management, the country could reduce import dependence, create employment and capture a greater share of the economic value generated by its marine resources.