Fish farming production in Nigeria has exhibited a notable trend over the past decade. In 2023, the production stood at 260.0 Thousand Metric Tons. The sector has faced varying growth rates, with significant year-on-year increases in the early 2010s but overall stagnation and decline thereafter. The last two years showed modest fluctuations with a -1.57% decrease in 2023. Over the past five years, the Compound Annual Growth Rate (CAGR) was -2.25%, indicating a consistent decline in production volumes.
Future trends to watch for include:
- Technological advancements in fish farming techniques.
- Policy reforms aimed at boosting local production capacity.
- Economic factors influencing feed and operational costs.
