(Ecofin Agency) - Investments in West Africa’s fishery industry could generate 300,000 jobs, said a report of Overseas Development Institute (ODI) and Spanish organization which specializes in investigative journalism porCausa.

The report entitled “Western Africa’s missing fish” highlights that weak regulations paired with the lack of co-ordinated efforts among countries in the region and the absence of dissuasive measures such as patrolling coast guards, impair efforts made to overcome illegal, non-declared and non-regulated fishing.  According to statistics, illegal fishing grabs at least a third of fishery output in the region.

Moreover, the report stated that governments should invest in industries which process fishery products and in local fleet in order to exploit the resource instead of only sell fishing licenses. This could multiply fishery revenues in the region ten-folds, from $3.3bn presently.

Aaron Akinocho