Industry

Dangote Reveals Nigeria Spends $1 Billion Every Year Importing Fish Despite Vast Water Resources

Published 15 Jul 2026 at 8:50 AM

by Victor Enengedi

3 min read

Aliko Dangote said Nigeria spends about $1 billion annually importing fish despite having abundant marine and inland water resources
He urged increased investment in the blue economy, saying this would boost local production, create jobs and reduce import dependence
Dangote also noted that poor infrastructure, limited financing and policy inconsistencies are slowing the growth of Nigeria's marine economy

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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.

President of the Dangote Group, Aliko Dangote, has lamented Nigeria's heavy reliance on imported fish, revealing that the country spends an estimated $1 billion every year importing fish despite its extensive coastline, inland waterways and favourable conditions for aquaculture.

He said the huge import bill reflects the enormous but underutilised potential of Nigeria's blue economy, stressing that greater investment in fisheries and aquaculture would strengthen local production, improve food security, create jobs and reduce pressure on the country's foreign exchange reserves.

Infrastructure, financing hindering sector growth

According to Dangote, Nigeria possesses significant marine and inland water resources capable of supporting a thriving fisheries industry, yet poor infrastructure, inadequate access to affordable long-term financing, and inconsistent government policies have continued to limit the sector's growth.

He noted that addressing these challenges would require stronger collaboration between the public and private sectors, arguing that government resources alone are insufficient to unlock the full economic value of the marine and blue economy.

Calls for greater investment in Blue Economy

The business leader identified several areas with strong investment potential, including fisheries and aquaculture, port infrastructure and logistics, maritime manufacturing, shipbuilding, marine technology, renewable energy and coastal tourism.

He urged investors to take advantage of the opportunities available within the sector, saying the development of globally competitive maritime industries would reduce Nigeria's dependence on imports, generate employment, stimulate industrial growth and support the country's broader economic diversification agenda.

Dangote said:

"The true measure of success will not be the policies we formulate, but the industries we build; not the strategies we publish, but the jobs we create; not the investments we announce, but the prosperity we deliver to millions of Nigerians."

According to him, the ultimate goal should be to translate government policies into tangible economic outcomes that improve the lives of Nigerians.

Dangote Urges Massive Investment in Fisheries as Nigeria Spends $1bn on Fish Imports — Dangote Reveals Nigeria Spends $1 Billion Every Year Importing Fish Despite Vast Water Resources
Source: UGC

FG floats Blue Economy television

Meanwhile, Legit.ng earlier reported that Nigeria launched Blue Economy Television, Africa’s first channel focused exclusively on the maritime sector.