By Myke Uzendu
The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, has said new investments in Nigeria’s fisheries sector must complement and strengthen the livelihoods of millions of Nigerians engaged in artisanal fishing and related activities.
Oyetola stated this when he received a team of Turkish fishing investors from CRD Impex, led by Cem Tarhan, in his office in Abuja.
The minister assured the investors of the Federal Government’s commitment to creating an investment-friendly environment capable of attracting credible local and international investments into Nigeria’s marine and blue economy.
He, however, stressed that such investments must be inclusive and sustainable, particularly in a sector where millions of Nigerians depend on artisanal fishing for their livelihoods.
Oyetola identified inadequate infrastructure, limited access to modern fishing technology, processing and storage constraints, weak cold-chain systems and gaps in market access as some of the major challenges facing the country’s artisanal fisheries sector.
According to him, the challenges also present significant opportunities for investors seeking to modernise Nigeria’s fisheries value chain and improve the productivity and livelihoods of local fish producers.
The minister said the Federal Government’s approach was to convert the challenges confronting the sector into investment opportunities while ensuring that the benefits of new investments were broadly shared.
“We welcome investors who can bring capital, technology, expertise and modern value-chain solutions to the sector,” Oyetola said.
“However, investment must be inclusive and sustainable. It must complement and empower our artisanal fish producers, not undermine their livelihoods,” he added.
The minister said greater investment in infrastructure, technology, processing and storage could help address some of the longstanding constraints limiting the productivity and profitability of Nigeria’s fisheries sector.
He also emphasised the importance of developing an efficient cold-chain system and improving access to markets as part of efforts to reduce losses and strengthen the fisheries value chain.
Speaking on behalf of the Turkish delegation, Tarhan said CRD Impex was in Nigeria to explore investment opportunities in the fishing sector.
