According to the National Bureau of Statistics (NBS), Nigeria exported frozen shrimps and prawns worth N5.13 billion during the first quarter of this year. The nation’s shrimps and prawns export crashed by 35.9 per cent to N5.64 billion in 2018 from N8.8 billion in 2017.
This comes as the Lagos State government is seeking increase in the nation’s revenue from non-oil exports, estimated at $2.5 billion between January and June, this year.
Global Shrimp Market is expected to be $ 69.35 billion by 2028, according to Research and Markets, a leading business intelligence company.
Its report posited that the demand for shrimp is increasing not only in the food industry but also in other sectors such as pharmaceuticals, healthcare, and cosmetics, mainly because of its beneficial properties such as antioxidant and anti-aging effects.
To promote growth, the Lagos Commissioner for Agriculture Ms Abisola Olusanya, stressed the need to broaden the capacity of the local industry to increase the productivity, quality, profitability, and environmental sustainability of shrimp farming by smallholders.
She continued that the Lagos State Government wants to work with operators to implement various measures to support trawl fisheries to be involved in harvesting shrimp in the deep waters.
She said support would be given to investors to increase the number of trawlers working around Lagos coastal waters. This, the commissioner expects, will have major impact in growing industrial shrimp trawling.
She reiterated that there was a great potential to tap into, through the application of science, technology, innovation, as well as through improved policy frameworks.
Fisheries expert, Prof Martins Antekhai attributed the shrinking shrimps volume to increased input costs. He explained that local players are challenged by higher logistics costs apart from issues such as biosecurity measures, investment in health management practices and teaming up with external professional parties in the research and development (R&D) effort to enhance farming.
