FG secures $200m World Bank funding to boost fish production

Nigeria’s federal government has secured a $200 million World Bank-backed financing commitment, to be offered to states as concessional loans, to expand fisheries and aquaculture. Marine and Blue Economy Minister Adegboyega Oyetola announced the initiative at an aquaculture investment training in Abuja. States are expected to identify priority value chains and develop viable projects to raise domestic fish production and reduce imports. The ministry says national fish production has risen from 1.1 million to 1.4 million tonnes through its interventions.