Business Briefings
FG approves digitisation of fish import licences
The Federal Government has approved the digitisation of Nigeria’s fish import licensing process as part of broader efforts to strengthen transparency, efficiency and regulatory oversight in the fisheries sector.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed that the approval marks a significant reform aimed at modernising the administration of fish importation while supporting the growth of domestic fish production.
According to the minister, the Department of Fisheries and Aquaculture has been directed to fast-track the deployment of a digital licensing platform, a move that underscores the government’s commitment to technology-driven governance within the marine and blue economy ecosystem.
Oyetola explained that the initiative aligns with the Federal Government’s broader development agenda, which places emphasis on economic diversification, food security, job creation and institutional reform. He noted that digitising the licensing framework is designed to reposition the fisheries sector for long-term sustainability and global competitiveness.
He said the transition from a manual to an automated licensing system would eliminate administrative bottlenecks, reduce delays and improve accountability across the fisheries value chain. The digital platform, he added, is expected to minimise duplications, curb human interference and significantly reduce inefficiencies associated with the existing process.
The minister noted that the reform would simplify procedures for legitimate operators while strengthening government oversight. By aligning regulatory processes with international best practices, he said the initiative would enhance confidence in Nigeria’s fisheries management system.
Oyetola further explained that the digital framework would provide real-time data on fish import volumes, enabling authorities to better assess supply gaps and make informed, evidence-based policy decisions. Enhanced data analytics, he said, would allow the ministry to grant import licences in a manner that supports national food security objectives without undermining local producers.
He added that the system would also tighten compliance by ensuring that only qualified and properly registered importers are granted licences, thereby reducing illegal and unregulated importation that has historically discouraged investment in local aquaculture.
According to the minister, the reform is closely linked to the government’s goal of revitalising domestic fish production and gradually reducing dependence on imported fish products. He noted that Nigeria has the capacity to achieve self-sufficiency in fish production if supported by the right policies and regulatory environment.
Oyetola said the digitised licensing regime would serve as a critical regulatory tool to ensure that fish importation complements, rather than stifles, the growth of local producers. By strengthening local capacity, encouraging investment and creating jobs, he said the government aims to build a more competitive and well-regulated fisheries sector.
Nigeria remains one of Africa’s largest fish markets, with demand continuing to exceed local supply, making reforms in the sector critical to long-term food security and economic growth.
-
NGX Extends Trading Hours to 4pm to Boost Market Liquidity
The Nigerian Exchange Limited has announced an extension of its daily trading hours to 4:00 p.m., in a move aimed at enhancing liquidity and deepening investor participation in the capital market. The change, disclosed in a statement, will take effect from April 27, 2026, following approval from the Securities and Exchange Commission. Under the revised…
-
Airlines threaten shutdown, marketers say fuel prices overstated
By: Amarachi Okonkwo The Major Energies Marketers Association of Nigeria (MEMAN) has pushed back against claims that aviation fuel is selling for as high as N3,300 per litre, urging airline operators to explore alternative suppliers while attributing recent price pressures to global supply disruptions and rising logistics costs. The position comes amid escalating tensions between…
-
Afreximbank profit hits $1.15bn as assets soar to N56.7tn
By: Amarachi Okonkwo The African Export-Import Bank has delivered a strong financial performance for the 2025 fiscal year, posting significant profit growth and an expanded balance sheet as it deepened support for trade financing across Africa and the Caribbean. The multilateral lender recorded a net profit of $1.15bn (about N1.5tn), marking an 18 per cent…



