Government Programs Aim to Lower Fish Prices, Boost Nigeria’s Food Supply

Subsidies for fish feed and fingerlings in Lagos, alongside the federal FISH4ACP initiative, are set to help small-scale farmers reduce production costs and improve food security in 2026, says Bismarck Rewane, CEO of Financial Derivatives Company Limited.

Rewane noted that Nigeria’s aquaculture industry faces a major gap between demand and supply. While the country consumes 3.2 million metric tons of fish yearly, domestic production reaches only 1.2 million metric tons. High feed costs, which make up about 70 percent of expenses, drive this shortfall and contribute to $1.2 billion in annual fish imports.

The FISH4ACP program, launched in 2025, offers finance, technical guidance, and value-chain support to fish farmers. Lagos’ subsidies are aimed at helping small operators lower costs and maintain profitable operations.

Analysts say Nigeria can learn from China’s example by investing in local feed research, alternative protein sources, and domestic production to cut costs and support sustainable growth. Strengthening the local feed supply is seen as key to improving aquaculture profits and national food security.

Fish farming also creates jobs in rural areas, from hatcheries to processing plants. Rising feed prices—from N3,500 per bag in 2012 to N42,000 today—remain a major challenge, making government support critical for small farmers.