Macroeconomic Implication of Fish Importation in Nigeria: A Fully Modified Ordinary Least Square (Fmols) Approach

Abstract

Abstract The continuous rise in fish importation had conditioned Nigerian’s preference and taste for imported fish developing the fish sub-sector of other economies while crippling the sector in the country. This study therefore, examines the macroeconomic implication for fish importation in Nigeria. The study employed the FMOLS estimation technique to investigate to investigate the long-term effects of fish importation on the Nigerian economy. Major findings revealed a significant but negative macroeconomic effect of fish imports on the overall performance of the economy through an increase in unemployment, depletion of foreign exchange earnings, high consumer inflation and rise in food insecurity in the country. The study recommends an aquatic transformation agenda implementation in attempt to eliminate the demand-supply mismatch in domestic fish production.