Members of the Nigerian Trawlers Owners Association (NITOA) have raised alarm over the worsening impact of rising diesel prices on the fishing sector, revealing that over 80 per cent of their vessels are currently grounded.
A visit to the Ijora Fish Market showed a sharp decline in fish supply from local trawlers, leading to noticeable scarcity and a surge in prices across markets.
Industry stakeholders say the situation is affecting both industrial and artisanal fishing operations. The National Executive Secretary of the Fisheries Cooperatives Federation of Nigeria, Oladele Robinson, explained that while small-scale operators depend on petrol, industrial trawlers run entirely on diesel, making them especially vulnerable to rising fuel costs.
According to him, many operators now embark on fishing trips without securing enough catch to offset fuel expenses, a trend that has made continued operations unsustainable. He noted that the rising cost of fuel has significantly increased the price of fish and other seafood products.
Sources within the industry disclosed that the price of Automated Gas Oil (diesel) has more than doubled—from about ₦900 per litre to between ₦1,800 and ₦2,000—placing a heavy financial burden on operators. As a result, many companies have withdrawn their vessels from active service to avoid mounting losses.
Operators say fuelling a vessel for a typical 50-day fishing expedition under current conditions would result in significant financial losses, forcing many to keep their trawlers docked rather than risk unprofitable voyages.
The development has pushed the sector into what stakeholders describe as a critical state, with fears mounting over its broader economic implications. Experts warn that continued disruption could threaten food security, as fish remains a major and affordable source of protein for millions of Nigerians.
There are also concerns about widespread job losses across the value chain, with industry sources estimating that up to 10,000 direct and indirect jobs are at risk if urgent intervention is not implemented.
The diesel price surge has been partly linked to global market disruptions tied to tensions involving Iran, which have affected oil and gas supply chains.
Stakeholders are now calling on the Federal Government to introduce targeted support measures, including possible subsidies, to stabilise the sector and prevent further economic fallout.
