During an interactive session with the Management of Triton Group, one of the leading Stakeholders in Nigeria’s fishery sector and the Federal Ministry of Agriculture and Rural Development in Abuja, Mr Audu Ogbeh revealed that a whooping $700 million (about N210 billion) is spent annually on the importation of fish and it is no longer sustainable for the present administration under President Muhammadu Buhari to continue to spend such amount on fish imports at this period when the Nigerian economy had slipped into recession.
Ogbeh has disclosed the plans to boost local production of fish species in an attempt to reduce the huge importation of the product into the country and also to conserve foreign exchange in the fishery sector.
The Minister stated that more funds would be provided to research institutes to scale up research work into the local production of other species of fish apart from the regular catfish and Tilapia. He also pledged to collaborate with Triton on fish production to reduce the annual fish import bill urging the company to train more people in fish production. The minister revealed that the ministry has acquired 100 hectares of land in Gaube area of the Federal Capital Territory where young people will be trained on modern farming techniques.
Fortunes can be made from fish farming as the population is swelling and protein needs are far outstripping the available supply.
In this receding economy, one can make good use of the opportunity and enter into a fish farming business, all you need to do is to get a space, buy tanks, buy finger links between N10 to N20, feed them for 4 to 6 months, then sell from between N500 to 1,500 depending on size and weight.
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Onyebuchi Sonia Chiamaka, Social Media Speialist, Novus Agro Nigeria.