Folawiyo Fisheries Limited

One of Nigeria’s national goals is to achieve self-sufficiency in food (Protein) production.

Folawiyo Fisheries Ltd ifs working towards achieving that objective. In corporated in 1981, the aim of the company is to harness the natural resources of Nigeria’s coastal waters. In the near future, operations will be extended along the West African Coast as far as Mauritania.

Folawiyo Fisheries started by importing fish from overseas, from Argentina in particular. It has invested substantially in cold storage buildings and transport so as to facilitate effective distribution of its products.

However, fish importing was suspended in 1984 when the company decided to purchase its own fleet of trawlers for deep sea fishing. While the trawlers were being built in the USA, the company embarked on the construction of its own jetty and acquisition of cold rooms. Four trawlers delivered in 1990 were immediately put into operation.  These are FOLA 1, FOLA 2, FOLA 3, FOLA 4, all of which operate along the Nigerian coast for fishing and shrimping.  Each of the four vessels takes a one month round trip during which all catches are fully processed and packaged.

Folawiyo Fisheries Ltd has opened marketing channels in Lagos and several other towns of the country and represents an investment of over N320 million (1990 figures).