Fish Production Attracts N7.5 Billion Investment

The Fish Site
by The Fish Site
10 April 2007, at 1:00am

NIGERIA - About N7.58 billion has been invested in the Fisheries sub-sector in Nigeria as at 2006, according to President Olusegun Obasanjo.

Chief Obasanjo who disclosed this while declaring open the First International Catfish Fair, described the sector as the fastest growing in the Agricultural sector, saying that aquaculture output had increased by 29 percent in the past one year while artisanal and industrial fisheries had also grown by 5 percent and 10 percent respectively.

According to the President, who was represented at the occasion by the Minister of State for Agriculture and Water Resources, Otunba Bamidele Dada, the phenomenal growth in the fisheries sub-sector as a result of large scale investments in aquaculture, has resulted in Nigeria taking the lead in fish production in Africa.

He further disclosed that there has been an appreciable increase in the number of hatcheries for the production of fingerlings, high quality fish feed mills and remunerative prices for catfish, disclosing that Nigeria now has the capacity to produce over 40 million fingerlings annually.

Source: All Africa