Diesel Price Surge Grounds 80% of Nigerian Fishing Vessels

The fishing sector in Nigeria is facing a crisis as 80% of vessels are currently grounded due to a sharp rise in diesel prices. Oladel Robinson, a retired naval captain and secretary of the Nigerian Trawler Owners Association (NITOA), highlighted that the cost of diesel has surged from N900 to between N1,800 and N2,000 per liter, representing a 100% increase.

This spike has rendered operations unsustainable, with many trawlers unable to justify the high fuel costs against their catch. The situation is exacerbated by ongoing global market disruptions linked to geopolitical tensions, particularly involving Iran.

As a result, many operators are bringing their trawlers back to the jetty instead of risking financial losses at sea. The inability to sustain vessel operations poses a significant risk to food security in Nigeria, as fish remains a crucial source of protein for the population.