An economic overview of the fish and shrimp production of the Nigeria fish trawling industry under the structural adjustment programme

Over the years, Nigeria have witnessed different government with different policy measures. Against the negative consequences of the past policies, the structural adjustment was initiated in 1986. Its aims is to effectively altar and restructure the consumption patterns of the economy as well as to eliminate price distortions and heavy dependence on the oil and the imports of consumer goods and services. Within the period of implementation, there has been a decreasing trend in yearly fish catch landings and sizes but the reverse in shrimping. There is also a gradual shift from fishing to shrimping, from the vessels purchased with 83.3% increase of shrimpers from 1985 to 1989. Decreasing fish catch sizes and quantity aggravated by the present high cost of fishing coupled with the favourable export market for Nigeria shrimp tend to influence the sift. This economic situation is the result of the supply measures of SAP through the devaluation of the Naira. There is also overconcentration of vessels on the inshore waters as majority of the vessels are old and low powers hence incapable of fishing on the deep sea. Rotterdam price being paid for automotive gas oil (AGO) by fishing industries is observed to be discriminating and unhealthy to the growth of the industry as it is exceedingly high and unstable thus affecting planning for fishing operation. Fuel alone takes 43% of the total cost of operation. The overall consequences is that fishing days are loss and therefore higher overhead cost. It was concluded that for a healthy growth and sustainable resources of our marine fishery under the structural adjustment programme licensing of new fishing vessels should be stopped immediately and the demand side of SAP should be employed by subsidizing high powered fishing vessels which can operate effectively on the deep sea