FG secures $200m World Bank funding to boost fish production.
The funding, to be made available to state governments as concessional loans, may support investments […] The post FG secures $200m World Bank funding to boost fish production appeared first on Vanguard News .
By Folarin Kehinde The Federal Government has secured a $200 million World Bank-backed financing commitment to boost fish production across the country through state governments, as part of efforts to reduce import dependence and strengthen Nigeria’s aquaculture industry.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this at a high-level executive training on the Aquaculture Investment Guide organised by the ministry in collaboration with the World Bank Group in Abuja.
Oyetola, who was represented by the Senior Special Assistant to the President on Marine and Blue Economy, Prof. Busayo Fakinlede, said the financing would help states unlock their fisheries potential and develop commercially viable aquaculture projects. The minister, in a statement issued by his Special Adviser, Bolaji Akinola, said the Federal Government was prioritising collaboration with state governments, investors and development partners to position Nigeria as a fish-sufficient nation. He said expanding domestic fish production had become imperative to address the widening gap between local supply and consumption.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with Vanguard.