FISH SUPPLY AND DEMAND IN NIGERIA

Fish constitutes about 41% of the total animal protein intake by the average Nigerian hence there is great demand for fish in the country. Nigeria requires about 2.66 million metric tons of fish annually to satisfy the dietary requirement of its citizens (150 Million). Regrettably, the total aggregate domestic fish supply from all sources (capture and culture fisheries) is less than 0.7million metric tons per annum. Nigeria has to import about 0.7 million metric tons of fish valued at about $500 million annually to augment the shortfall. This massive importation of frozen fish in the country has ranked Nigeria the largest importer of frozen fish in Africa. The huge sum of money spent by Nigeria annually in fish importation could be used to invest in fish farming. Nigeria can substitute fish importation with domestic production to create jobs, reduce poverty in rural areas where 70% of the population lives and ease the balance of payments.

A review of the various food production systems reveals aquaculture (fish farming) as an important strategy in the global fight against hunger, malnutrition and poverty, particularly in the developing nations including Nigeria. Aquaculture is considered as the provider of the direly needed high quality animal protein and other essential micronutrients because of its affordability to the poorer segments of the community in addition to the provision of employment opportunities and cash income. The Food and Agriculture Organization of the United Nations (FAO) classified aquaculture as the World’s fastest growing food production sector for nearly two decades globally; the sector has shown an overall average growth rate of 11.0% per year since 1984, compared with 3.1% for terrestrial farm animal meat production. Nigeria has the capacity to attain the desired fish self‐sufficiency within a short of time if the numerous aquaculture potentials (land 1.7 million Ha and water, 14 million ha), which abound the nation is adequately utilized. These potentials are estimated at about 2.5 million metric tons of fish annually