Minister of Marine and Blue Economy Adegboyega Oyetola has called for new investments in Nigeria’s fisheries sector to strengthen, rather than displace, the livelihoods of millions of artisanal fishers. This statement was made during a meeting with Turkish fishing investors CRD Impex, led by Cem Tarhan, where Oyetola reiterated the Federal Government’s commitment to fostering an investment-friendly environment. The meeting, detailed in a statement signed by Special Adviser Bolaji Akinola, highlighted the need for investments that complement local fishers’ activities while addressing sectoral challenges.
Oyetola outlined key challenges facing Nigeria’s artisanal fisheries, including inadequate infrastructure, limited access to modern technology, processing and storage constraints, weak cold-chain systems, and poor market access. Despite these obstacles, he emphasized opportunities for investment in modernizing the fisheries value chain to enhance productivity and livelihoods. ‘We welcome investors who can bring capital, technology, and expertise, but investment must be inclusive and sustainable, empowering rather than undermining artisanal producers,’ he stated.
CRD Impex, a Turkish firm with experience in fisheries and aquaculture, expressed interest in Nigeria’s market, aiming to leverage its expertise and resources. The company, accompanied by officials from the Federal Ministry of Marine and Blue Economy, visited key facilities such as the Kirikiri Lighter Terminal in Lagos, Ozumba Mbadiwe Fish Market, and Esuk Nsidung Beach Market in Calabar. These visits aimed to assess investment opportunities and understand the local fisheries value chain. Meanwhile, other developments in the sector include DP World signing MoUs for a $7bn Ogun deep seaport and economic zone, alongside new regulations to enforce compliance in Nigerian ports.
The Federal Government’s approach underscores a balance between attracting foreign investment and safeguarding local stakeholders. With Nigeria’s fisheries sector employing millions, the emphasis on inclusivity and sustainability reflects broader public-interest concerns. The recent port regulations, which impose stricter sanctions for non-compliance, aim to improve efficiency, while the Ogun project signals significant infrastructure development. These initiatives collectively shape the future of Nigeria’s marine and blue economy.