Photo: FAO/FISH4ACP

FISH4ACP Launches Finance Initiative to Boost Fish Farming in Nigeria, Targeting Catfish Sector Growth

NIGERIA
Tuesday, June 17, 2025, 00:10 (GMT + 9)

Access to finance is highlighted as a critical factor to unlock the potential of Nigeria's booming catfish industry, aiming to bridge a significant domestic fish production gap.

ABUJA – The global aquatic value chain development program FISH4ACP has officially launched a new input finance initiative aimed at significantly scaling fish farming across Nigeria. This marks a major milestone in enhancing access to crucial financial resources and technical support for smallholder fish farmers nationwide.

The launch event, held on June 9, 2025, at a cluster of catfish farmers in the southern city of Ijebu Ode, brought together key partners and stakeholders from across the aquaculture value chain. During the event, Koffy Dominique Kouacou, FAO Representative ad interim to Nigeria and ECOWAS, underscored the vital importance of financial access in transforming aquaculture into a more productive and resilient sector.

"Nigeria needs 3.2 million metric tonnes of fish annually, yet current production stands at only 1.2 million tonnes. This gap not only underscores the need for increased local production but also highlights the crucial role of financial inclusion and capacity building in achieving food and nutrition security,” stated Kouacou. He added that FISH4ACP reflects a strong commitment to fostering sustainable aquaculture development in Nigeria.

Strategic Approach and Early Success

The FISH4ACP strategy includes providing credit to farmers through selected financial partners, expanding technical support, collecting implementation data, developing viable business models, and potentially establishing a joint capacity-building mechanism, with FISH4ACP among the funding partners.

As a direct result of these initial efforts, approximately 40 farmers have successfully accessed about USD 105,000 from institutions such as the Bank of Industry (BOI) and First City Monument Bank (FCMB). Plans are currently underway to broaden the program’s reach and impact.

Partnerships and Innovation for Sustainability

Wellinton O. Omorogbon, Director of the Department of Fisheries and Aquaculture at the Federal Ministry of Marine and Blue Economy, urged for strategic partnerships and innovation to identify and implement solutions that will empower fish farmers and ensure sustainable practices protecting the ecosystem. "We must explore new financing models, leverage public-private partnerships, and harness the potential of technology to create a more resilient fisheries and aquaculture sector,” he emphasized.

Hugh Briggs, Programme Manager for Agriculture at the European Union Delegation to Nigeria and ECOWAS, reiterated the EU’s continued support for inclusive and sustainable value chain development. “Scaling up fish farming requires more than production – it requires systems that are sustainable, inclusive, and financially viable. Through FISH4ACP, we are seeing how targeted support, especially for small-scale producers, can help unlock aquaculture’s full potential as a source of food security, rural livelihoods, and economic resilience,” Briggs noted.

Markus Wagner, Country Director for GIZ Nigeria & ECOWAS, commended the partners on this significant milestone and reaffirmed Germany’s dedication to supporting sustainable aquaculture through integrated development approaches. "Beyond credit, this launch is about farmers gaining control over their future, communities building resilience and partnerships driving real impact,” Wagner concluded.

Comprehensive Interventions in Catfish Clusters

FISH4ACP’s interventions are designed to enhance sustainable production across five catfish clusters in Nigeria. These initiatives include:

• Data-driven farm management training.
• Improved financial literacy and business planning for cluster managers.
• Direct access to finance facilitated via the GIZ partnership.
• A new digital record-keeping platform for traceability.
• A recently established water quality testing laboratory.

Additionally, the introduction of sustainable feed solutions, such as the use of Black Soldier Fly (BSF) larvae, is helping farmers significantly reduce input costs and adopt more environmentally friendly practices.

About FISH4ACP

FISH4ACP is an initiative of the Organisation of African, Caribbean and Pacific States (OACPS) focused on making fisheries and aquaculture value chains in Africa, the Caribbean, and the Pacific more sustainable. The program is implemented by the FAO (Food and Agriculture Organization of the United Nations) with crucial funding from the European Union (EU) and the German Federal Ministry for Economic Cooperation and Development (BMZ).

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