- Saturday, 25 January 2014
Fishery is an important sub sector of Nigeria's national economy as it provides close to 35% of animal protein consumption in the country. Nigeria has a an active fishery industry which if well exploited by private investment can be very rewarding. Current data puts the country fish production at 600,000 metric tons in the late 2000s. Local demand however reached a high of 2.66 million metric tons in the same period, showing a short fall of about 2 million metric tons which was bridged in part by the import of about 740,000 metric tons in 2007, and about the same volume in much of the late 2000s. Thus, it may be seen that local demand, as well as the productive capacity to attend to this, and promised return on investment, in fish production is largely assured, on the part of the investor.