The Sea Empowerment and Research Centre (SEREC) said that despite investments by the Federal Ministry of Marine and Blue Economy in the fisheries and aquaculture sector, local fish production remains far below the country’s consumption level, leaving a substantial supply deficit that is largely bridged through imports.

Nigeria’s fish production reached approximately 1.4 million metric tonnes in 2025, with national demand exceeding production by about 1.83 million metric tonnes, a gap the Minister of Marine and Blue Economy, Adegboyega Oyetola, said presents substantial investment opportunities across the fisheries value chain.

In its mid-year review of Nigeria’s fisheries sector titled: ‘Closing the Domestic Fish Supply Gap’ and signed by the Head of Research, Eugene Nweke, SEREC described the widening production gap as both a food security concern and a missed economic opportunity.

According to SEREC, Nigeria’s fisheries and aquaculture sector possesses enormous untapped potential that can contribute significantly to the country’s Blue Economy agenda and broader economic diversification efforts.

The research centre stressed that the fisheries sector has the capacity to generate jobs, improve rural livelihoods, strengthen food security, conserve foreign exchange and boost non-oil exports if adequately supported with deliberate policy interventions.

SEREC, however, identified several challenges hindering the sector’s growth, including limited access to affordable financing, inadequate cold-chain infrastructure, weak fish-processing facilities, post-harvest losses, rising feed costs, illegal, unreported, and unregulated (IUU) fishing, and climate-related pressures.

To bridge the domestic fish supply gap, the research centre called for accelerated investment in commercial aquaculture, fish hatcheries, modern fish-processing facilities, and cold-chain logistics.

The group also advocated for improved access to fisheries financing and stronger enforcement measures against illegal fishing.

The research body maintained that developing a vibrant fisheries industry remains indispensable to achieving Nigeria’s Blue Economy aspirations and should be accorded strategic priority within the country’s economic diversification agenda.

SEREC said its findings reinforce the need to strengthen governance across Nigeria’s maritime domain, arguing that unlocking the economic potential of fisheries in the Blue Economy would enhance economic development.