The picture is a symbol of the country of fishing. Tilapias carp together with freshwater species constitute 80% of all cultivation with deep sea fishing and maritime trawling remaining relatively under surgeries that are exploited, in Nigeria. Media reports indicate the fishing industry contributed $60 million to approximately four percent of output, or the economics in 2008 through data on the sector is limited. Estimated fish cultivation was pegged at 120 Endemic poverty descended over large portions of rural Nigeria as traditional livelihoods started to wither away. A roadmap premised on the goal of making Nigeria the authorities adopted a player in regional and global affairs under president O Obsanjo.
Primarily, the Vision 2020 document of Obsanjo mandates sector initiatives to propel Nigeria. It that the fishing sector presents chances as a tool and a poverty alleviation strategy for growth that is entrepreneurial. With exports having to fill in for nearly 95% of demand, a fraction of claim satisfies. Nigeria is, in reality, the top importer of fish from the African continent, sourcing over 1.5 million tons of fish annually from international markets. Unofficial estimates suggest less than ten percent of this country’s fish farming potential is currently being utilized, together with just as much as 60, 000 hectares of unused land available for expanding this sector.
The reality remains that Nigeria’s vast natural resources and human capital can be indebted to promote great fishing as a way of ensuring not only exports but additionally food security. In principle at least, this Nigerian fishing industry has a lot into anticipating. Due to its extensive shoreline and tropic climate, Nigeria has this potential into developing a diversified ecology for a wide range of commercially viable varieties of fish. The commercial appeal behind fishing is tremendous, considering these secondary and tertiary businesses that can generate. Fishing, by itself, has this potential of driving significant enterprise development, transforming rural economies and create direct and indirect employment chances in the process. Abuja’s primary liability lies in providing opportunities for export of fish and fish products into global markets. Even though viable data on the overall economic loss, this aggregate financial loss due to reduced neighborhood fish production is substantial and needs targeted policy initiatives to correct.