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Aquaculture: CBN to finance fish value chain

The Central Bank of Nigeria (CBN) says the aquaculture sector is one of the focal areas the apex bank seeks to concentrate on, as it is ready to finance the fish value chain to the next level.

A representative from the Development Finance Department of the CBN, Mr Samson Alatise stated this at the just-concluded four-day Norwegian Seafood Council capacity training for fishery officers and stakeholders held in Lagos.

He explained that CBN had set up a committee called ‘Fish Champion’ to finance fish farming in Nigeria.

“The problem we have with fish financing under our Anchor Borrowers’ Scheme is lack of viable anchors to off-take the fish from the farmers.

Mr Alatise expressed optimism in the capacity-building and training workshop, saying that the issue of getting viable anchors would be addressed to boost the aquaculture sector.

On his part, the Minister of Agriculture and Rural Development (FMARD), Mahmood Abubakar, commended the initiative, adding that the country has a huge potential in fishery and aquaculture.

Represented by the Director of Fisheries and Aquaculture, Imeh Umeh, the Minister noted that the underutilization of resources and opportunities in Nigeria needed to be urgently addressed.

“I have no doubt in my mind that this training will help to develop our fisheries officers/stakeholders on the best management practice accepted internationally,” said Abubakar.