The Federal Government is seeking to attract investment from Turkish fisheries company CRD Impex as part of efforts to modernise Nigeria’s fisheries sector and strengthen the country’s marine and blue economy.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this in a post on X on Thursday after receiving a delegation from CRD Impex led by Cem Tarhan.
According to the minister, the Turkish company, which has extensive experience in fisheries and aquaculture, is exploring investment opportunities in Nigeria and has expressed interest in bringing its expertise and financial capacity into the country’s fisheries industry.
“We welcome investors who can bring capital, technology, expertise and modern value-chain solutions to the sector,” Oyetola said.
However, he stressed that foreign investment must also support the livelihoods of local fish producers rather than displace them.
“However, investments must complement and empower our artisanal fish producers, not undermine their livelihoods,” he said.
Oyetola added that the government was working to create an investment environment capable of attracting credible domestic and international investors while ensuring that investment in the fisheries sector remains inclusive and sustainable.
Nigeria Identifies Major Gaps in Fisheries Industry
The minister identified several challenges limiting the growth of Nigeria’s fisheries sector, including inadequate infrastructure, limited access to modern fishing technology, processing and storage constraints, weak cold-chain systems and restricted access to markets.
Despite these challenges, Oyetola said the gaps also represent opportunities for investment and innovation.
According to him, addressing the weaknesses across the fisheries value chain could help improve productivity, modernise operations and increase the incomes and livelihoods of local fish producers.
Turkish Investors Visit Nigeria’s Fisheries Facilities
As part of the engagement, members of the CRD Impex delegation travelled with officials of the Federal Ministry of Marine and Blue Economy to visit fisheries and aquaculture facilities in different parts of Nigeria.
The visits were intended to give the Turkish company first-hand insight into the country’s fisheries value chain and help identify potential areas for investment and cooperation.
The engagement could open the door to greater collaboration in areas such as modern fishing technology, aquaculture, processing, storage and other parts of the fisheries supply chain.
Government Seeks Sustainable Growth in Blue Economy
Oyetola said the Federal Government would continue engaging responsible investors and local stakeholders as it works to address the structural challenges facing the sector.
He said the government’s objective was to transform existing challenges into investment opportunities while building a fisheries industry that is more productive, modern and sustainable.
The proposed engagement with CRD Impex forms part of the broader push to attract capital, technology and expertise into Nigeria’s marine and blue economy while ensuring that local fishing communities remain part of the sector’s growth.
