Federal Govt Not Harnessing Fishery Industry Potential – Stakeholders

Maritime stakeholders have lamented the underutilisation of the nation’s fishery industry to create employment and drive economic growth in the country.

The stakeholders, who spoke at the first annual conference of the Alumni Association of Federal College of Fisheries and Marine Technology, with the theme: “Unlocking the potential of blue economy: FCFMT Alumni contributions to sustainable fisheries and Marine technology development in Nigeria”, lamented that government failed to take advantage of its fishery sector to drive economic growth through policies, equipment and grants, to promote fishing and the fisheries sub-sector of the blue economy.

However, the chief executive officer, Ocean Deep Maritime Services Limited, Macfoy Rollen, said if fishery subsector is well supported by the government, the fishery sector of the blue economy will bring about another economic boom for the nation, especially to support youth employment and empowerment, while minimising importation of such into the country, thereby growing the GDP.

She noted that fisheries and aquaculture are vital tools of transition to green because they are aquatic animals, saying that people who farm them rear them either for personal consumption, merchandise, even up to export level.

According to her, sustainability in the profession creates job employment, and contributes to national Gross Domestic Product (GDP) of the country, adding that over the last 10 years, fishery export has increased by 15 per cent and now ranks fourth among all export commodities globally.

“Government interest and encouragement in fisheries could help harmonise and provide an enabling environment for the people in this profession, through proper government funding like: Grants and loans as well as adequate regulation.

“Fisheries also facilitate trade, both domestic and international, contributing to foreign exchange earnings for the country. Moreover, the sector supports other industries, such as fish processing and marketing, creating additional economic opportunities,” she averred.

Speaking on the importance of technology to the blue economy, she noted that technological development is an important vehicle to achieve sustainable development in the blue economy, saying that it helps to protect marine environment and the use ocean resources for improved social and economic life as well as protecting and enhancing the most vital element of the planet’s natural resources.

Speaking at the event, the president of the Alumni Association of Federal College of Fisheries and Marine Technology, Captain. Ogunshakin William recognises the critical role that the blue economy plays in Nigeria’s economic growth, food security and environmental sustainability.

“We must work together to promote sustainable fisheries and marine technology development, and to ensure that the benefits of the blue economy are equitably shared among all stakeholders.”

“We also acknowledge the significant contributions that our alma mater, Federal College of Fisheries and Marine Technology, has made to the development of the maritime sector in Nigeria,” he said.