Region
Bayelsa
Nigeria

Sector
Aquaculture & Mariculture

Summary:

Bayelsa state has potential for a vibrant and profitable fishing industry but production remains low. The government has jumpstarted the development of the industry and is inviting credible investors.

Contact
TradeInvestNigeria

Email
infonigeria@gan.co.za

Bayelsa state has a 180km coastline that holds a lot of potential for investors in fisheries. Current production is estimated at 70 000 tonnes annually but the industry needs further investment in order to reach the target of  200 000 tonnes yearly.

In an effort to diversify its oil-based economy, the Bayelsa state government in 2009 set up the Niger Delta Sea Foods Limited to jumpstart the development of the fishing industry. The company this year acquired  two fishing trawlers, with a further three to follow, to help make the state a major supplier of table fish for the country. The state government has since established a fishing academy to develop the needed skills.

Some common fish available include saltwater species like bonga, sardines, shed, mackerel, jacks, and long neck croaker. Others are freshwater species such as cat fish, tilapia and zilli.

Investment opportunities

• Commercial fishing
• Canning and processing
• Development of fisheries 

Cashing on water hyacinth: Hyacinth is an aquatic weed that rapidly colonizes freshwater bodies and becomes troublesome because of the way it clogs waterways and blocks sunlight. Hyacinth is rampant in Bayelsa state water bodies. In other countries, profitable ventures that also provide a means of controlling the weed have emerged. Interested investors can use hyacinth to make furniture and jewellery, in paper production, weaving, fertiliser, animal and fish feed production. 

Incentives

Besides the generous incentives offered by the federal government that includes pioneer status for certain sectors (tax holidays up to ten year and capital and reinvestment allowances), Bayelsa state also offers special incentives to qualifying investors. These include provision of infrastructure support, security, advisory services, waivers of fees and fast-tracking the issuance of certificates of occupancy in order to get businesses up and running quickly.

For further information on investment opportunities in Bayelsa state contact TradeInvestNigeria at infonigeria@gan.co.za