Despite Abundant Water Resources, Fisheries Sector Still Underperforming – Oyetola

The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has called for stronger regional cooperation and increased investment in the fisheries sector, noting that persistent structural challenges continue to limit growth across West and Central Africa.

Oyetola made the remarks on Monday at the National Fisheries Investment Conference held in Monrovia, Liberia, which took place from March 30 to 31 and was declared open by Liberian President Joseph Nyuma Boakai. The event brought together ministers and key stakeholders responsible for fisheries and aquaculture across the subregion.

While describing the conference as timely, the minister acknowledged that despite the region’s vast marine and inland water resources, the fisheries sector has yet to achieve its full potential due to longstanding inefficiencies.

He pointed to declining fish stocks, weak infrastructure, limited access to finance, and the slow adoption of modern technology as major constraints affecting the sector’s performance.

Oyetola emphasized that fisheries and aquaculture remain critical to food security, job creation, and economic development, but noted that poor value chain systems and inadequate investment continue to hinder progress.

According to him, sustainable management of oceans, rivers, and coastal ecosystems is essential to ensuring long-term benefits, warning that environmental neglect and governance gaps could undermine future gains.

He also referenced ongoing efforts by the Federal Government under President Bola Ahmed Tinubu to reposition the sector as a key driver of the blue economy, although stakeholders have continued to raise concerns about gaps in implementation, particularly in infrastructure development, regulation, and access to funding.

Oyetola cited improvements in maritime security, including reported zero piracy incidents in the Gulf of Guinea, as a positive development that could enhance investor confidence. However, analysts argue that security improvements alone may not be sufficient to attract significant investment without complementary reforms in policy consistency, logistics, and institutional capacity.

The minister also called for increased investment across the fisheries value chain, including aquaculture production, processing, cold-chain systems, and export expansion. Industry observers, however, maintain that stronger regulatory frameworks and effective enforcement will be necessary to support sustainable investment.

Highlighting the need for collaboration, Oyetola stressed that no single country can effectively combat illegal, unreported, and unregulated fishing due to the transboundary nature of fish stocks.

He reiterated the importance of coordinated regional efforts through platforms such as the Fisheries Committee for the West Central Gulf of Guinea (FCWC), noting ongoing initiatives including joint patrols, a regional vessel registry, and improved information-sharing mechanisms. Nevertheless, questions remain about how quickly these measures can be fully implemented and their overall impact on curbing illegal fishing activities.

In a related statement, Bolaji Akinola, Special Adviser to the Minister, said efforts are underway to harmonise fisheries policies and promote trade within the region, while stakeholders continue to call for stronger political commitment and accountability to drive meaningful and measurable progress.