Abuja’s catfish market is undergoing a significant shift as fish farmers and traders come to a consensus on the new price for catfish. In a meeting held on November 1, 2023, stakeholders from Ibadan and Ilorin agreed to raise the price of catfish from N1,300 to N1,800 per kilogram. This decision aims to address the financial challenges faced by fish farmers in the Federal Capital Territory (FCT).
The catfish market in Abuja is witnessing a surge in prices due to the collective agreement between fish farmers and traders. The new pricing structure also encompasses catfish weighing between 700g-900g, which will now cost N1,400, and those weighing 500g-600g, which will be priced at N1,300.
During the discourse, the Abuja fish farmers’ working committees outlined the cost of raising 1,000 fish, revealing the financial strain experienced by farmers. It was disclosed that the total cost of raising 1,000 fish amounted to N1.3 million, making it evident that selling catfish at N1,100 per kilogram resulted in losses for the farmers.
The pressing issue of escalating costs for juvenile catfish seeds was also addressed, with each seed currently priced at N45, translating to a substantial sum of N45,000 for a thousand seeds.
It was further highlighted that 90% of Abuja’s fish farmers rear Clarias catfish as opposed to hybrid breeds, while consumer preference leans towards hybrid catfish, thereby influencing market dynamics.
Ekene Dominic, the coordinator for fish farmers in the FCT, emphasized the challenges faced by farmers, leading to farm closures within the territory. This depicts the dire need for sustainable solutions to salvage the fishery industry in the region.
In an effort to consolidate relationships and ensure a steady supply of fish in the FCT, prominent catfish dealer Alhaji Khalid Abubakar expressed intentions to establish enduring partnerships with fish growers.
The chairman of catfish dealers at Kado fish market, Mr. Aminu, extended a reassuring gesture to fish farmers, demonstrating their willingness to collaborate in resolving the predicaments facing the fishing business in the FCT.
The predicament of high feed prices in the North Central region was attributed to the economic conditions, exacerbated by the foreign exchange rate fluctuations, as revealed by a representative from Olams Fish Feeds Company. The advice given to farmers was to align their selling prices with the cost of production.
Urgent calls for collective action to salvage the collapsing fishery industry were made by Mr. Abdukadih Isah, the Chairman of FCT Fish Feed and Fisheries. He underscored the necessity for collaborative efforts to avert the impending collapse of the industry.
Addressing the implications of the price increase, Mr. Julius Adeju, the spokesperson for FCT fish farmers, urged for a unified approach to engage stakeholders on the matter, cautioning that the industry faces imminent cessation if left unattended.
Consequently, both parties are set to sign a Memorandum of Understanding (MoU) to formalize trade relations and regulate the inflow of catfish from other states to Abuja, particularly from Ibadan and Ilorin.
In light of the farmers’ potential to cater to the FCT’s fish demands, a plea was made for government intervention in the form of feed subsidies to sustain the fisheries business in the region. This plea underscores the gravity of the situation, calling for urgent measures to prevent the collapse of the fishery industry in the FCT.
