DG WTO, Dr. Ngozi Okonjo-Iweala.

The Director General of the World Trade Organisation WTO, Dr. Ngozi Okonjo-Iweala has decried the worsening illegal and unregulated fishing activities in Nigeria’s coastal waters, a development she said deprives locals their means of livelihood, while adversely affecting the country’s quest towards harnessing her blue economy potential.

The WTO-boss also lamented the country’s rising fish import substitution, saying that Nigeria spends roughly $866million-$1billion on fish imports due to her inability to curb illegal and unregulated fishing off her coast.

Speaking at the just concluded 2026 edition of the Delta State Economic and Investment Summit, Okonjo-Iweala, who is Nigeria’s former Minister of Finance and Coordinating Minister of the Economy said: “Building a blue economy is not about letting foreign trawlers fish off a country’s coast.”

According to her, such practices rob local fishermen and women of resources, and noted that global agreements exist to curb this harmful overfishing.

She listed key points on the Blue Economy Local Protection to include unregulated foreign trawlers depleting local fish stocks and hurt small-scale, local fishers.

“Import Substitution: Nigeria spends roughly $866 million to $1 billion yearly on fish imports, a market local coastal areas should capture instead”, she said.

She also noted that there are global rules that seek to curb illegal fishing activities, noting that the WTO works to reduce harmful fishing subsidies and protect developing nations’ coastal waters.

Other key points, she further noted include the need for value addition, enjoining regions to invest in proper aquaculture, cold storage, processing, and marine logistics rather than giving away access.

She further recommended Fisheries subsidies deal for regions, which she argued will contribute to sustainable blue economy management.

The Nigeria-born renowned Political Economist also cited WTO Subsidies Agreement of June 28, 2022, which according to her, bans subsidies that contribute to illegal, unreported, and unregulated IUU fishing.