ANALYZING MARKET PERFORMANCE AND ECONOMIC DYNAMICS OF DRIED FISH IN BENUE STATE

Fish represents one of the most diverse and nutritionally important groups of animals, contributing significantly to the dietary and socio-economic wellbeing of Nigerians. With over 2,500 species, fish provides more than 40% of the average Nigerian’s animal protein intake and serves as a vital source of essential micronutrients, minerals, and fatty acids. Its high digestibility and compatibility with carbohydrate-rich diets make it a key component of nutrition across the country, with no social or religious restrictions on consumption. The Nigerian fish sector has experienced growth through both traditional rural aquaculture and intensive commercial production, contributing substantially to the nation’s GDP. However, domestic production has consistently failed to meet local demand. Estimates indicate a local demand of approximately 2.175 million metric tonnes against a domestic supply of 730,000 metric tonnes, creating a significant shortfall bridged by imports of roughly 1.404 million metric tonnes at a cost of about US$1.2 billion. This reliance on imports represents a considerable drain on foreign exchange and underscores the country’s untapped potential for local fish production. In response, the Nigerian government has intensified efforts to enhance local aquaculture production, aiming to reduce import dependence, improve food security, and promote economic development. This study highlights the critical role of fish in national nutrition, evaluates the gap between supply and demand, and underscores the importance of developing sustainable strategies to expand local fish production to meet the rising domestic consumption needs.