Nigeria Expands Deep Blue Project to Boost Fisheries

The Federal Government of Nigeria is taking steps to expand the Deep Blue Project, as disclosed by Dr. Adegboyega Oyetola during a meeting with the Nigerian Economic Summit Group (NESG).

This initiative aims to maintain Nigeria's zero piracy record over the past four years by enhancing surveillance and coordination of maritime security assets. The project is expected to boost investor confidence, increase ship traffic, and reduce insurance premiums in the Gulf of Guinea, a region previously considered high-risk.

Oyetola emphasized the need to strengthen Nigeria's blue economy and fisheries sector, revealing that local fish production is projected to rise from 1.1 million metric tons to 1.4 million metric tons by 2025. This marks the first significant increase in a decade.

The initiative also includes the approval of Nigeria's turtle excluder device certification, which will enable Nigerian shrimp exports to access U.S. and European markets, thereby increasing foreign exchange earnings and creating jobs across the fisheries value chain.