FG secures $200m to close fish supply gap

•States to drive local production
By Steve Agbota and Idu Jude , Abuja
The federal government has secured a $200 million World Bank-backed financing package to help states expand fish farming, increase local production and reduce Nigeria’s dependence on imported fish.
The initiative is part of efforts to address the country’s huge gap between fish consumption and domestic production, which costs Nigeria nearly $1bn in foreign exchange annually.
Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, said the funding, which will be made available to state governments as concessional loans, would support investment in fisheries and aquaculture, create business opportunities ...