The seafood industry has been experiencing unprecedented growth as global consumers develop an insatiable appetite for fish, shrimp, and other marine delicacies. Nigerian exporters have a great chance to take a sizable chunk of the world seafood industry because to this rising demand. Given Nigeria’s abundant aquatic resources and expanding aquaculture sector, this spike in demand offers exporters a fantastic opportunity.
Why Nigerian Exporters Should Take Notice
Nigeria is ideally situated to produce seafood due to its abundance of freshwater and marine resources. The Food and Agricultural Organisation (FAO) reported in 2024 that the world’s seafood consumption had increased to 162.5 million tonnes in 2021, with per capita yearly consumption reaching 20.7 kg in 2022. In 2024, seafood exports reached over $120 billion, with Norway leading the pack at $15.5 billion and Vietnam coming in at $10 billion, a 12% increase over 2023.
Meeting International Standards
Seafood exporting is not without its difficulties. Strict quality and safety requirements, like HACCP (Hazard Analysis and Critical Control Points) certification, must be followed in order to compete in international markets.
To preserve product quality, Nigerian exporters must also make investments in appropriate cold-chain logistics and packaging. But those who get beyond these obstacles will discover a rich market that is eager for premium seafood.
Given that Nigeria produces some of the top prawn and prawns species in the world, experts say this offers Nigerian business people a chance to engage in the industry. “Every component of animal protein is in greater demand both locally and globally as the population grows,” the professor, who also serves as the acting head of the College of Environment Resource Management, stated. While urging greater investment in domestic seafood production, he pointed out that the nation’s prawns and prawns are among the best in the world.
According to analysts, Nigeria’s seafood business, valued at approximately $1 billion, has enormous potential for exports and employment generation, but it has not yet been fully realised. According to data from the National Bureau of Statistics (NBS)’s Foreign Trade Statistics, the nation made N53 billion from the export of frozen prawns and prawns, crabs, rock lobster and other marine crawfish in the first nine months of 2024.
One of the top ten agricultural exports during that time was seafood, which falls under the fishing industry. According to experts, the Niger Delta, the world’s second biggest brackish ecosystem, is where Nigerian prawns are primarily produced.
Because prawns are high in omega-3 fatty acids and the antioxidant astaxanthin, eating them can assist to support heart and brain health. Along with being a great source of protein, it is also high in a number of vitamins and minerals. “The subsector has not yet reached its full potential. It is a significant source of income for the majority of Asian nations, and Nigeria may also take advantage of its foreign exchange potential, according to Musa Idris, who exports prawns and prawns to nearby nations.
“There are seafood opportunities. Idris pointed out that even crayfish are now transported to landlocked African nations. Nigeria’s largest seafood exporter, Atlantic Shrimpers, is currently controlled by Indians and has invested more than $100 million in the nation’s seafood sector.
Join the Export Revolution
If you’re ready to explore the lucrative world of seafood exportation, now is the time to act! Gain the skills and knowledge you need by enrolling in our upcoming export training program.
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Don’t miss this opportunity to take your business to the next level!
Nigerian exporters can expand their companies and support the country’s efforts at economic diversification by taking advantage of the international seafood market.
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