80% of Vessels Grounded as Rising Diesel Prices Cripple Fishing Sector

Eromosele Abiodun

It has emerged that more than 80 per cent of their vessels operated by Nigerian trawlers are currently grounded due to the sharp rise in diesel prices.

A visit to the Ijora fish showed that the quantities of fishes caught by Nigerian Trawlers has massively reduced, raising fears of fish scarcity.

The development has also triggered a sharp increase in the prices of available fish across markets.

The current situation was attributed part of the diesel price surge to global market disruptions linked to the ongoing hostilities involving Iran, which have impacted oil and gas logistics.

The National Executive Secretary of the Fisheries Cooperatives Federation of Nigeria, Navy Captain Oladele Robinson (Rtd.), said both the artisanal and industrial segments of the sector are being adversely affected by the rising cost of diesel and petrol, which is impacting operators’ activities.

Robinson further explained that operators in the artisanal segment rely on Premium Motor Spirit (PMS) to power their fishing boats, while the industrial sub-sector depends on diesel to run trawlers.

He stated that operators often deploy their vessels without securing sufficient catch to justify the high cost of petrol or diesel, adding that the situation has become unsustainable for continued operations.

He said: “At times, operators go to sea but are unable to secure enough catch to justify the cost of fuel, a situation that has driven up the prices of fish and other seafood.”

Sources close to the Nigerian Trawlers Owners Association (NITOA) volunteered that the cost of Automated Gas Oil (AGO), which powers fishing vessels, has surged by over 100 per cent, rendering operations largely unsustainable.

The source explained that deploying a vessel for a 50-day fishing trip under current fuel costs would result in significant financial losses.

According to the source who do not want his name in print, said; “The problem is AGO, which is diesel. The vessels run 100 per cent on AGO. Right now, the prices are so high that you can’t even think of fuelling a vessel for a 50-day trip. The vessel will come back at a very big loss. What has happened is that operational costs have gone far beyond what companies can handle. That’s why operators have brought their trawlers back to the jetty rather than remain at sea and continue recording losses. We used to get diesel at about N900 per litre. Today, it is between N1,800 and N2,000 per litre, well over a 100 per cent increase.”

Another source said the spike in fuel prices has pushed the industry into a critical state, with operators unable to sustain vessel operations while overhead costs remain unchanged.

“The implication is that trawlers cannot operate under these conditions. The industry is in a critical situation. Companies are going aground,” she said.

She warned that the development poses risks to food security, stressing that fish remains an affordable source of protein for many Nigerians.