‘Full ownership underlines Skretting’s interest in Nigeria’

Nutreco has bought out its local partner in fish farming joint venture, Skretting Nigeria.

For the past three years, Skretting had been in a joint venture in that West African country with the shareholders of local fish farming operation Durante. The Dutch company now has taken 100% ownership of the operations.

Skretting said it has seen a five-fold increase in its production since 2014, with output now at more than 20,000 tons.

“The joint venture has been growing well and there is a clear need for good quality feed and technical service in Nigeria. The full ownership underlines Skretting’s interest and is geared by the growth expected to come,” Rob Kiers, managing director, Skretting Africa, told FeedNavigator.

Skretting said the country is widely recognized as offering considerable potential for aquaculture growth. Fish feed production in Nigeria is said to total around 200,000 tons annually, currently catfish dominates in terms of species.

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However, Skretting said the Nigerian government has increased its support of the industry in recent years by reducing frozen fish imports, which has stimulated local fish production and also encouraged farmers to diversify from culturally important catfish farming into producing tilapia.

Kiers said the feed market in Nigeria is divided into three parts: extruded feed, pelleted feed and by-products, and other components. 

“Skretting is the market leader in extruded feed and has a clear ambition to educate and help Nigerian farmers to optimize feeding and show that extruded feed is economically beneficial. We anticipate that growth will come from an increase in the number of farmers using extruded feed,” said Kiers.

New facility, new school

The JV added a new floating feed production line at its Ibadan based feed plant in February 2016. Skretting is now planning to construct a second feed plant in Ibadan, which Kiers said is scheduled to be on stream at the end of next year.

In addition to the second facility in Nigeria, Skretting said it is going to open a school next year to help develop the local industry by introducing producers to innovations such as the company’s Skretting’s LifeStart concept, which focuses on specific hatchery and nursery nutrition for juvenile fish and broodstock.