Oyetola Secures $200m World Bank Funding To Tackle $1bn Fish Import Bill

The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola , has secured a $200 million World Bank-backed funding commitment to boost domestic fish production and reduce Nigeria’s annual fish import bill of nearly $1 billion.
The funding, which will be made available to state governments as concessional loans, is expected to strengthen investment in fisheries and aquaculture, expand local production capacity and bridge the country’s widening fish supply deficit.
Oyetola’s initiative is also aimed at reducing Nigeria’s dependence on imported fish, conserving foreign exchange, creating jobs and strengthening national food security through increased participation of state government...