Stories by John Oba
Abuja
The Federal Government has commended the intention of an India Company, Triton Group to invest about $64 million into the Nigeria fish industry.
Addressing the press recently when the management of Triton paid him a courtesy in his office, the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, said the investment was as a result of government policy measure that encourages investment in the sector as against the culture of importation that has plagued it for years.
He said: “It is worthy of note that we would not be gathered here today if not for the policy shift midwife by the present administration which compel importers of frozen fish to invest in the local fisheries and aquaculture value chain. Triton is one of the many who have chosen to invest and I am glad to know that they are doing so in a qualitative manner.”
He revealed that the company is set to invest $64 million in the sector within the next four years, adding that the investment would add 70,000 metric tons to fish production, generates 3000 jobs with Forex conservation of $85 million per year in the country.
This according to him would also lead to the export of Tilapia and catfish to US, Europe and other countries. He called on the company to expand it investment to cover fish feed mill, explore the considerable opportunities existing in mari-culture and should pioneer the utilization of coastal and inland water bodies for intensive cage culture deployment.
He urged the company to also place emphasis on employment provision, training and capacity building of Nigerians, invest more in research and development in conjunction with the department of fisheries and the Fisheries Research Institute, saying greater research is needed in fish brood stock production.
“You must not shy away from demonstrating corporate social responsibility. You would need to work the department to establish a national aquaculture standardization and certification programme. You should not shy away from investing in eco-tourism,” he advised.
Also speaking, Triton chairman, Mr Ashvin Samtani, urged the government to introduce more policies that will encourage more investments in aquaculture such as tax holidays, enhanced access to land and credit facilities, infrastructural assistance particularly under the SCPZ scheme.
He said the minister can specifically mention Ikere Gorge Dam in Oyo state which has been described as the best suited water body for aquaculture in Nigeria which is currently under-utilized on account of a derelict access road. Urging the minister to speak with the Oyo state governor on the issue which according to him holds considerable potential for the state economically.
