EKSU Inaugural Lecture: Professor Urges CBN to Support Fish Farmers with Interest-Free Loans.

EKSU Inaugural Lecture: Professor Urges CBN to Support Fish Farmers with Interest-Free Loans.

In a compelling address during Ekiti State University's 79th inaugural lecture, Professor Ronald Omotayo Fagbuaro, a distinguished expert in Fish Breeding and Genetics, called upon the Central Bank of Nigeria (CBN) to provide interest-free loan facilities to Nigeria's fish farmers. The primary objective of this call is to invigorate the nation's economy and mitigate food shortages.

Professor Fagbuaro, a prominent figure in the university's Department of Zoology and Environmental Biology, expounded on the pivotal role of loans as a catalyst for increased fish production, consequently fostering economic growth and addressing the issue of food scarcity in the country.

Drawing attention to the perilous usage of chemicals and medications by fish farmers, which pose health risks to consumers, the professor advocated for the enactment of legislation to prosecute those who employ human growth hormones in fish breeding.

He asserted, "Central Bank of Nigeria has to extend loan facility to Fish Farmers at little or no interest rate. Likewise, government at various levels should initiate more programmes targeted at empowering fish farmers and other farmers to reduce the problem of food shortage. There should be a law against breeding fish with human growth hormone."

Highlighting the health hazards associated with the use of antibiotics and medications meant for human consumption in fish farming, Professor Fagbuaro underscored the potential consequences: "The use of human growth hormone poses a great danger to fish consumers. When antibiotics and some other medications intended for human use are used in breeding fish, the major long-term effect is that these chemicals or drugs will be stored in tissues of those involved fish. When consumed by humans, they end up ingesting different doses of residues of the chemicals from the flesh of the fish, which can eventually lead to tumours and cancers."

Addressing the pressing issue of insecurity and its impact on fish farmers, the professor implored the government at all levels to take decisive action to address security threats and the escalating costs of food and other essential commodities.

"Nigerian farmers and the population in general are grappling with an unprecedented wave of diverse but interconnected security crises, including kidnapping, banditry, and extremist insurgencies. This has compelled fish farmers and others to withdraw from agricultural activities and has resulted in exorbitant prices for fish, feeds, and food items," he lamented.

Regarding transportation, Professor Fagbuaro urged the federal government to enhance the state of road infrastructure, thereby reducing transportation costs and losses during transit. Additionally, he emphasized the necessity of connecting fish farmers with off-takers who can purchase their produce at reasonable prices.

Conclusively, the professor called upon the Nigerian government to intensify collaboration with institutions such as the National Institute for Freshwater Fisheries Research and the Nigerian Institute of Marine Research and Oceanography. Such partnerships would facilitate advancements in fishing techniques and fish management, ultimately enhancing the quality of brood stock species.

In response to these insights, it remains to be seen how the Central Bank of Nigeria and the government will act to support the nation's fish farming industry and address the multifaceted challenges it faces.