ENHANCING LOCAL CONTENT DEVELOPMENT IN NIGERIA’S MARINE AND BLUE ECONOMY: STRATEGIC OPPORTUNITIES IN FISHERIES AND AQUACULTURE
Abstract
The fisheries and aquaculture sectors in Nigeria have great potential to provide food security, employment, enterprise development and economic diversification. However, whether these benefits can be locally owned and retained depends on local production capacity. This paper identifies strategic opportunities for local content development in the fisheries and aquaculture sectors of Nigeria. This was achieved by reviewing literature and policy. Issues such as local enterprise involvement, inputs, technology, processing and value addition, human capital development, funding, institutional support and environmental sustainability were identified and discussed. Major challenges identified include poor infrastructure, lack of funding, lack of technology and skills, poor industry research links, institutional issues and environmental issues. Strategic opportunities identified for local content development include increasing local enterprises, diversifying aquaculture production, developing local inputs and equipment, processing and cold chain infrastructure, improving technical and entrepreneurial skills, and increasing funding and market access. These opportunities will require a fisheries and aquaculture specific local content development strategy, supported by institutional coordination, enterprise development, sustainability, quality assurance and performance measures. Improving these areas can increase local value retention, increase employment and enterprise opportunities, improve local production capacity and improve the contribution of fisheries and aquaculture to Nigeria's marine and blue economy.
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