The Lagos State Government has raised concerns over the reluctance of commercial banks to finance the fisheries sector, saying limited access to capital remains a major obstacle to productivity and the development of a sustainable fisheries value chain.
The Lagos State Commissioner for Agriculture and Food Systems, Ms. Ruth Abisola Olusanya, made this known at the Maritime Correspondents’ Organisation of Nigeria (MARCON) National Conference on sustainable Fishing with the theme, “Sustainable Fishing in Nigeria: Pathways to Growth Food Security and Coastal Livelihoods”.
Speaking on the topic, “Building a Sustainable Fisheries Value Chain for Food Security and Economic Growth,” she said fishers, fish farmers and other operators across the fisheries value chain require adequate financing to acquire boats, engines, fishing gear, safety equipment and other productive assets.
Olusanya, who was represented by the Director of Fisheries, Mrs Osunkoya Muibat Daisi, however, lamented that financial institutions are often unwilling to lend to fisheries operators because of the perceived high cost and risks associated with the sector.
“The Banks tend to be very reluctant because they tell you it’s expensive, so they don’t want to lend,” she said.
According to her, without access to affordable capital, operators in the sector would struggle to expand production and improve their businesses.
“But if you don’t lend money to them, there’s no way you can be productive,” she added.
The Commissioner said financing is only one of several areas that requires attention if Nigeria is to build a fisheries value chain capable of supporting food security, creating jobs and contributing significantly to economic growth.
She explained that the fisheries value chain involves several interconnected activities, from production and landing of fish to handling, processing, storage, transportation, marketing and eventual consumption.
Olusanya noted that weaknesses at any point in the chain could lead to losses for producers and reduce the quantity and quality of fish available to consumers.
She stressed the need to reduce post-harvest losses through improved processing, storage and transportation facilities, noting that such interventions would increase the availability of fish while also improving the income of people working in the sector.
“Food security is not simply about producing fish. The real question is, can people access nutritious and affordable fish? Can people who produce the fish have enough to continue producing it?” she asked.
According to her, strengthening the fisheries value chain would enable food security and improved livelihoods to reinforce each other rather than being treated as competing objectives.
She said Lagos is strategically positioned to benefit from a stronger fisheries industry because of its extensive marine, lagoon, river and estuary resources.
The Commissioner noted that the state has a large community of fishers, fish farmers, processors, traders, transporters and input suppliers whose livelihoods depend directly or indirectly on fisheries.
She, however, said fisheries development in Lagos must take into account the multiple uses of the state’s waterways, which are also used by passenger boats, commercial operators, security agencies and other maritime users.
She called for stronger coordination among fisheries authorities, maritime agencies, security agencies, waterway operators and fishing communities to ensure that the various users of the waterways could operate safely.
Olusanya also called for a shift from the traditional approach of measuring fisheries interventions by the number of inputs distributed or people trained. She said government and development partners should instead focus on whether such interventions were producing sustainable improvements in the livelihoods of beneficiaries.
“If we give a group fishing equipment, but there’s no training, no maintenance plan, no markets, and no monitoring, the operation may not produce lasting results,” she said.
She urged stakeholders to ask whether fishers are earning more, whether fish farmers are producing more efficiently, whether post-harvest costs are falling and whether more fishes are reaching consumers.
The Commissioner identified infrastructure, finance, data, safety, technology, market access and quality inputs as critical areas requiring sustained investment. She called for improved landing facilities, ice plants, processing centres, storage facilities, jetties and other basic infrastructure needed to support fishing communities.
She also stressed the importance of reliable fisheries data, saying accurate information is necessary for effective planning and investment decisions.
“Because without data, we cannot plan,” she said, urging stakeholders to update fisheries data and strengthen integrated data systems.
The Commissioner said government alone cannot provide all the resources required to transform the fisheries sector, urging greater private-sector participation.
She said private investors could provide capital, efficiency and innovation, while financial institutions needed to develop appropriate financial products for fisheries operators.
She also called for greater attention to the participation of women and young people, noting that the average age of artisanal fishers is reportedly above 60 years.
According to her, the reluctance of younger people to enter fishing makes succession and sustainability an urgent concern for the industry.
She therefore advocated the introduction of modern technology, improved business opportunities and better returns to make fisheries more attractive to younger Nigerians.
Olusanya further highlighted maritime safety as an important component of a sustainable fisheries value chain.
She said fishing communities operating on increasingly busy waterways required safety training, life-saving equipment, navigation and weather awareness, communication channels for emergencies, and effective systems for reporting and responding to incidents.
Olusanya called for stronger collaboration among government, fishers, researchers, private investors, financial institutions, maritime agencies, communities and the media.
She said government should provide policy, infrastructure and regulation, while researchers should provide evidence and innovation and the private sector should drive investment and efficiency.
Financial institutions, she said, have an important role to play by providing financing products that recognise the realities of fisheries businesses.
According to her, the death of a fisher due to unsafe waterways should not be viewed merely as an individual incident but also as an economic issue affecting the fishing community and the wider fisheries value chain.
She said the ultimate objective should be to create a fisheries economy capable of providing nutritious food, creating jobs, supporting coastal communities and protecting the aquatic resources on which the sector depends.
“We cannot build lasting livelihoods on a resource base that is being depleted. But we also cannot expect people to protect the resource if they cannot make a decent living from it,” she said.
One Comment