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    HomeBusiness News$429M TRADE DEAL: US, Nigeria, strengthen aquaculture ties

    $429M TRADE DEAL: US, Nigeria, strengthen aquaculture ties

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    Nigeria and the US are strengthening their commercial ties in the aquaculture sector through an expanded partnership between the American Soybean Association (ASA) and SejFarms Consult Limited.

    With bilateral agricultural trade between both countries hitting $429 million in 2024 and expected to be more than double in 2025, the partnership aims to promote innovation and best practices in Nigeria’s aquaculture industry.

    According to the US Mission Agricultural Counselor, Chris Bielecki, who noted that agriculture is at the heart of the US-Nigeria commercial and investment partnership, the US soy industry is helping to build a resilient agricultural sector in Nigeria, ensuring long-term food security and economic stability.

    “By fostering innovation and promoting best practices, the US soy industry is helping to build a resilient agricultural sector in Nigeria, ensuring long-term food security and economic stability,” Chris Bielecki, added.

    Meanwhile, the partnership between the two countries was reaffirmed through a Memorandum of Understanding (MOU) signed during the graduation ceremony of the Next Generation Leaders for Aquaculture Innovation Program in Lagos.

    It aims to advance Nigeria’s fish production and create new opportunities for young people to be trained in aquaculture, including high-quality feeds.

    READ ALSO: Alaafin Vs Ooni: Stop inciting traditional rulers against one another, Chief Ifayemi Elebuibon counsels Yoruba sons, daughters

    The program which trained 10 young Nigerian leaders in modern fish farming practices, including the use of soybeans in fish feed, also showcased the potential of US soy to strengthen Nigeria’s aquaculture industry and promote bilateral trade.

    Speaking also, Managing Director/CEO of SejFarms, Sejiro Michael Oke-Tojinu, said that , “This MOU demonstrates that we are strengthening our commitment to encourage the growth of Nigerian aquaculture and create new opportunities for young people to be trained in aquaculture, including high-quality feeds.”

    Wisconsin soybean farmer and member of the ASA WISHH trade delegation to Nigeria, Nancy Kavazanjian, noted that the partnership showcases the potential of US soy to strengthen Nigeria’s aquaculture industry.

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