CBN worried over local fish production despite Anchor Borrower Scheme


social media handles of bank customersAt the backdrop of significant presence in the African fish output level, the Central Bank of Nigeria, CBN, has indicated that the current local fish production in Nigeria is still inadequate to meet the demands of the domestic consumption.

This is also despite the Anchor Borrower Programme, ABP, funding assistance to fish framers.

The apex Bank, in a report, disclosed that Nigeria imports 700,000MT of fish annually which is 60,000 MT more than total domestic production.

According to the CBN report the sector has great potentials for growth adding that if it is well harnessed, it will add more to the nation’s Gross Domestic Product, GDP.

Part of the report stated: “The subsector has recorded the highest average growth rate of 10.3% (1961-2020) compared to the 6% recorded in crop production in the same period.

“With an average contribution of 4.3% to total agriculture GDP between 1960 and 2020 and provision of at least 50% animal protein, fisheries contributes to economic growth by enhancing food security and improving livelihood of fish farmers and their households.

“Aquaculture production in Nigeria increased from 25,718 tons in 2000 to 261,711 tons in 2020 (the second highest in Africa);the 12.3 percent annual growth was slightly lower than the sub-regional average, yet higher than regional and world averages.

“The 261,711 tons of aquaculture production in 2020 was contributed by 16 ASFIS species items, with 5.7 effective number of species (a measure of species diversity).

“Catfishes contributed two thirds of Nigeria’s aquaculture production in 2020; the country accounted for nearly 80 percent of world aquaculture production of bony tongues.”
Meanwhile, the Fisheries Cooperative Federation of Nigeria, FCFN, has submitted a blueprint on the revitalization of the fisheries and aquaculture industries in Nigeria for sustainable job creation and revenue generation.

In the agenda its President, Alhaji Mohammed Laminu, stated: “To achieve sustainable fish production and meet up with the national demand, investment in the fishery industry requires both government and private individuals, public private partnership and access to funds for small—scale fish farmers and fishermen.

“In the light of the above, FCFNL requires that at least the following intervention be made to cushion the high effects of subsidy removal on fish farmers and fishermen and the operators in the entire fishery value chain. Some of the intervention are 150,000 bags of fish feeds, 7.5million packs of fingerlings, 15,000 collapsible tanks, 5,000 bundles of fishing nest,5,000 outboard engines, 5,000 life jackets,2,000 smoking kilns and 1,500 plastic tanks.

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