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Aquaculture in Nigeria holds $296bn annual revenue potential-WAS 

The World Aquaculture Society (WAS), African chapter, has projected that Nigeria’s aquaculture sector holds the potential to generate an annual revenue of $296 billion. 

Speaking in an interview with the News Agency of Nigeria (NAN), Lanre Badmus, the Director of the West African Region of WAS, commended President Bola Tinubu’s administration for establishing the Ministry of Blue Economy and Marine. 

Badmus emphasized that harnessing the untapped potential of the maritime sector could significantly increase income generation for the country, contributing to sustainable and environmentally friendly resource utilization. 

 What he said,

.According to him the potential for the Nigerian aquaculture sector to create millions of new jobs in various fields, including fishing, aquaculture, maritime transport, tourism, and renewable energy.

Badmus urged the ministry to explore and exploit opportunities in fisheries, estimating a total potential direct value of $13.125 million annually.  

He encouraged the ministry to prioritize knowledge, capacity building, and operational capabilities across innovative themes such as technology, science, social aspects, political and governance considerations, and physical and economic growth. 

As an organization dedicated to aquaculture science, technology, and education, the World Aquaculture Society (WAS) provides leadership for enhanced international communications, collaboration, and information exchange through its diverse membership and international networks.

The positive projections for Nigeria’s aquaculture sector underscore the importance of strategic initiatives and policies to unlock its vast economic potential. 

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