How nigeria spends 1 2bn to import fish annually emefiele

I think there may be a slight mistake in your question. The correct quote is "Nigeria spends N12bn to import fish annually" not "1 2bn".

According to a report by the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, Nigeria spends N12 billion (approximately $32 million USD) annually to import fish into the country. This is a significant amount of money, considering the country's vast aquatic resources and potential for domestic fish production.

The CBN Governor made this statement in 2019, highlighting the need for Nigeria to develop its domestic fish production and processing industry to reduce its reliance on imports and boost economic growth. He also emphasized the importance of promoting local fish farming and processing to create jobs and stimulate economic development in rural areas.

It's worth noting that Nigeria's fish import bill has been a subject of concern for many years, with the country importing a significant portion of its fish requirements from other countries, including Thailand, Vietnam, and Indonesia. The high cost of fish imports is a significant burden on the country's foreign exchange reserves and has a negative impact on the local fishing industry.