OYETOLA SAYS NEW INVESTMENTS MUST STRENGTHEN, NOT DISPLACE, ARTISANAL FISHERS

OYETOLA SAYS NEW INVESTMENTS MUST STRENGTHEN, NOT DISPLACE, ARTISANAL FISHERS

By Sarah Kitka

Abuja (Core Reporters) -The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has stressed that new investments in Nigeria’s fisheries sector must strengthen, rather than displace, the millions of Nigerians whose livelihoods depend on artisanal fishing and related activities.

Oyetola stated this when he received a team of Turkish fishing investors from CRD Impex, led by Cem Tarhan, in his office.

He assured investors of the Federal Government’s commitment to creating an investment-friendly environment capable of attracting credible local and international investments into Nigeria’s marine and blue economy.

The Minister identified inadequate infrastructure, limited access to modern fishing technology, processing and storage constraints, weak cold-chain systems and gaps in market access as some of the major challenges confronting Nigeria’s artisanal fisheries sector.

He, however, noted that these challenges also present significant opportunities for investment, particularly in modernising the fisheries value chain while improving the productivity and livelihoods of local fish producers.

According to Oyetola, the Federal Government’s approach is to transform these challenges into opportunities while ensuring that investments in the sector remain inclusive and sustainable.

“We welcome investors who can bring capital, technology, expertise and modern value-chain solutions to the sector. However, investment must be inclusive and sustainable. It must complement and empower our artisanal fish producers, not undermine their livelihoods,” Oyetola said.

The Turkish investment team, CRD Impex, said it was in Nigeria to explore investment opportunities in the fishing sector.

Tarhan said the company had extensive experience in fisheries and aquaculture in Turkey and was interested in bringing its expertise and investment capacity to Nigeria.

As part of the engagement, the Turkish investors, accompanied by officials of the Federal Ministry of Marine and Blue Economy, visited several fisheries and aquaculture facilities across the country to assess investment opportunities and gain first-hand knowledge of Nigeria’s fisheries value chain.

The facilities visited included the Kirikiri Lighter Terminal in Lagos, Ozumba Mbadiwe Fish Market in Lekki, Lagos, and Esuk Nsidung Beach Market, a major waterfront seafood and trading hub in Esiere Ebom, Henshaw Town, Calabar, Cross River State.