• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, June 6, 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

SEC Urges Young People To Avoid Ponzi Schemes

SEC Sets November Deadline For T+2 Settlement Cycle Compliance By Operators

20 hours ago
Zenith Grows Earnings By 24% To N945.5bn

Zenith Bank Named Nigeria’s Best Bank At 2025 Global Finance Awards

20 hours ago

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.

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.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


Tags: GDP
SendShareTweetShare
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

SEC Urges Young People To Avoid Ponzi Schemes
Business

SEC Sets November Deadline For T+2 Settlement Cycle Compliance By Operators

2025/06/05
Zenith Grows Earnings By 24% To N945.5bn
Business

Zenith Bank Named Nigeria’s Best Bank At 2025 Global Finance Awards

2025/06/05
Oyetola
Business

Oyetola Leads Nigeria’s Delegation To UN Ocean Conference In France

2025/06/05
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Bullish Streak Extends As Stock Market Cap Hits N71trn

2025/06/05
Oando Resolves Shareholder Dispute, Releases 2019, 2020 Results
Business

Oando PAT Up 267% To N220bn

2025/06/05
Electricity Workers Shut Down AEDC Headquarters Over Unresolved Workers’ Grievances
Business

Power Outage Looms In Abuja, 3 States As AEDC Workers Issue Strike Notice

2025/06/05
Leadership Conference advertisement

LATEST

Eidal-Adha: Matawalle Donates 3,000 Rams To Zamfara People

In Sallah Message, Tinubu Assures Nigeria ‘ll Prosper, Reforms Working

Crisis Brews In Zazzau Emirate As Ex-Waziri Petitions Kaduna Assembly Over Emir’s Seat

Trump Would Have Lost Election Without Me — Elon Musk

Eid-el-Kabir: Ganduje Rejoices With Muslim Ummah, Preaches Sacrifice, Charity

Era Of Banditry, Terrorism ‘ll Soon End — Wike

Abuja Lions Club Donates 90-bed Hostel To FCT School Of The Blind

Eid-el-Kabir: Senator Ajagunla Shares 2,500 Bags Of Rice, 100 Rams To Constituents

Eid-el-Kabir: Speaker Abbas Urges Muslims To Pray For Nigeria, Imbibe Spirit Of Sacrifice

Eid-El-Kabir: Barau Calls For Unity, Support For Needy

© 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.