Oyetola secures $200m World Bank support to boost fishing

Minister of Marine and Blue Economy, Adegboyega Oyetola, has secured $200 million in funding from the World Bank Group to support Nigeria's fisheries and aquaculture sector. The funding, provided as concessional loans to state governments, aims to bolster capacity development, unlock investment opportunities, increase domestic fish production, and address Nigeria's significant fish supply deficit.

The increase in collaboration among federal and state governments, investors, and development partners is crucial to reducing reliance on imported fish and enhancing national food security.