$20b Potential Annual Yield From Agriculture, For Government
 18th OCT 2006

The Federal Government could increase its foreign exchange earnings yearly by $20 billion, as well as provide direct employment to over 600,000 people, if it focuses attention on the development of shrimp Acquaculture in the country.

Making this disclosure recently in Lagos at the yearly general meeting of agricultural and non-oil export group of the Lagos Chamber of Commerce and Industry, Mr. Upali Karunaratner said that Nigeria has the potential to start a shrimp acquaculture sector not only as a producer of prawns for the consumer market, but also as a provider of disease-free shrimp stock to other producing regions.

He added that Nigeria can offer the basic excellent conditions needed for shrimps farming such as non-contaminated soils due to low use of agriculture inputs, available human capital climate, geologic and aquatic conditions which he noted, is largely suitable for shrimp acquaculture to make shrimp acquaculture a good opportunity for investment.

Nigeria, he noted can benefit from advanced technologies tested and trusted in many other countries as a late comer to fresh water prawn species acquaculture field to incorporate with fish farming in rural areas thereby providing more and better opportunities for profitability to farmers.

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