• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, August 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

GDP: Nigeria Can Generate $13.1m From Fish Reef, Others

by Zaka Khaliq
1 year ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria has an estimated capacity to generate $13.125 million annually from fish reef and new emerging sectors of blue economy, thereby, boasting the nation’s Gross Domestic Product (GDP), says the regional director, World Aquaculture Society(WAS), African chapter, West African region, Lanre Badmus.

Advertisement

Delivering his paper on ‘Nigeria’s New Ministry of Blue Economy and Marine Resources: A Panacea For Economic Growth’ at the World Aquaculture  Society Global conference tagged Aquaculture America 2024 themed ‘Setting the Table for US Aquaculture,’ in San Antonio Texas, United States(US) held 18-21st February, Badmus added that, the untapped blue economic potentials of the Nigerian economy could be worth $296billion annually, significantly, boasting the overall GDP.

Disclosing that Nigeria is the largest fish consumer in Africa and the fourth largest importer of fish in the world with the fish demand of about 3.6 million metric tons of which the country only meet up 31.19 per cent and depends on importation to meet up the huge gap of about 68.80 per cent, he noted that, addressing these challenges and capitalising on its blue economy potential holds immense potential for Nigeria to bridge the gap in fish import and boost the national economy.

“With a coastline of 853 kilometres and over 14 million hectares of inland waters, total fish production per year is close to one million metric tons (313.231 metric tons from aquaculture and 759,828 metric tones from fisheries), Nigeria can leverage its blue economy to achieve significant economic development, improve food security, create jobs, and adapt to a changing climate.  

“Fishing is a vital livelihood for the poor as well as an important protein source at the household level in Nigeria (ODI/DFID, 2000). Under-explored potential suggests Nigeria utilises only 50 per cent of its sustainable fish potential, leaving significant room for growth,” he pointed out.  

RELATED

Flight Cancellation: NCAA Launches Complaints Automation Portal

NCAA Launches First SERVICOM Integrated Service Charter

10 hours ago
Equities Market Extends Rebound With N204bn Gain

Equities Market Extends Rebound With N204bn Gain

10 hours ago
ADVERTISEMENT

Taking these advantages and utilising its resources responsibly, Nigeria has the potential to unlock the full potential of its fishing sector, contributing to economic growth, food security, and poverty reduction, he pointed out.

While applauding the efforts and commitment of the current administration under the leadership of President Bola Ahmed Tinubu for creating the ministry of Blue Economy and Marine Resources to exploit its maritime resources in a sustainable and environmental friendly manner, he stressed that, with the new ministry, Nigeria could be on the way to unlocking new range of opportunities.

Discussing the objectives, goals, and ministry’s vision of the present administration of President Bola Tinubu’s policy, the regional director pointed out that the new ministry has opportunities to provide food security, job creation, growth and poverty eradication in the country.

ADVERTISEMENT

With its expansive coastline and rich marine resources, both tremendous potentials for a thriving blue economy, he said, Nigeria can create millions of new jobs from various sectors like fishing, aquaculture, fish reef, maritime transport, tourism and renewable energy.

He equally stated that the country has seven seaports which include: Apapa port, Tin can Island Port, The Onne Port, Port Harcourt Port, the Warri Port, Calabar Port and Lekki Deep Sea Port, saying, these are avenues to boost the blue economy and make it the economy’s mainstay.

Earlier, he had said, the World Aquaculture Society conference , Aquaculture America 2024, titled ‘Setting the Table for US Aquaculture’ which took place in San Antonio, Texas from February 18 to 21st, is a global conference that brings aquaculturists and critical stakeholders across the world together to discuss, brainstorm and share knowledge on innovative ways to ensure environmental and social  sustainability of the aquaculture industry and the need to limit ecological impact and promote industry growth.

The Aquaculture America 2024 conference, he pointed out, serves as a vital platform of critical issues showcasing the advancement within the aquaculture industry, while focusing on sustainability and creating a resilient future for the industry, while contributing to food security, economic development and environmental wellbeing.

He concluded that, International collaboration is essential for the sustainable development of the Blue Economy in Nigeria. He pointed out that the Blue Economy has the potential to create millions of jobs and generate billions of dollars in revenue for Nigeria. However, it is important to ensure that the Blue Economy is developed sustainably through collaboration so that it does not harm the environment or the livelihoods of local communities.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: GDP
SendShare10173Tweet6358Share
ADVERTISEMENT
Previous Post

CSO Demands N130 Per Litre Tax On Sugar Sweetened Beverages

Next Post

Bears Usher In Equities Trading Week With N50bn Loss

Zaka Khaliq

Zaka Khaliq

You May Like

Flight Cancellation: NCAA Launches Complaints Automation Portal
Business

NCAA Launches First SERVICOM Integrated Service Charter

2025/08/27
Equities Market Extends Rebound With N204bn Gain
Business

Equities Market Extends Rebound With N204bn Gain

2025/08/27
State Of Emergency In Rivers: Way Forward
Business

Tinubu Bans Raw Shea Export For Six Months, Eyes $300m Revenue Boost

2025/08/27
Nigeria’s Poor Electricity, Weak Infrastructure Hinder Growth But Present Investment Opportunities – Awele Elumelu
Business

Nigeria’s Poor Electricity, Weak Infrastructure Hinder Growth But Present Investment Opportunities – Awele Elumelu

2025/08/27
Renaissance Energy Africa Reaffirms Commitment To Safety Operations
Business

Renaissance Energy Africa Reaffirms Commitment To Safety Operations

2025/08/27
Dangote Cement Records Impressive Topline Growth, Sustains Profitability
Business

Dangote Cement Urges Multi-sector Collaboration To Combat Youth Unemployment

2025/08/27
Leadership Conference advertisement

LATEST

We’re Committed To Tackling Climate Change Challenges — AbdulRazaq

Court Sentences Baltasar Engonga To 8-year Jail Term For Embezzlement

Edo Gov’t, NLC May Clash Over Planned Inauguration Of Caretaker Committee

Taylor Swift Announces Engagement To Travis Kelce

PICTORIAL: APC, PDP Supporters Dump Parties For ADC In Damagun’s Hometown

Adamu Aliyu Makes Waves In Latvian Football, Eyes Nigeria Call-Up

Federal Gov’t To Train 7m Youths In Digital Skills

2027: Despite Endorsing Tinubu, APC Throws Presidential Ticket Open

Akpabio Charges Nigerians On Maintenance, Protection Of Gov’t Facilities

Osun Monarch Jailed 56 Months For COVID Fraud In US

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.