Global deal to curb overfishing takes effect as Nigeria joins 85 nations

The World Trade Organization’s landmark Agreement on Fisheries Subsidies formally entered into force on September 15, setting new global rules to curb government support that fuels overfishing and depletes marine resources.

Nigeria, which ratified the deal in June 2023, is among 86 members that have now signed on.

WTO Director-General Ngozi Okonjo-Iweala, who presided over a special General Council meeting in Geneva, hailed the agreement as a “landmark for global trade governance.” She said: “This Agreement demonstrates how you can put trade in the service of both people and planet.”

The deal is the first multilateral WTO agreement to place environmental sustainability at its core. It bans subsidies for illegal, unreported and unregulated (IUU) fishing, support for fishing of overexploited stocks, and incentives for unregulated high-seas fishing. Negotiations took more than two decades to conclude, with adoption achieved at the WTO’s 12th Ministerial Conference in 2022.

Okonjo-Iweala stressed that the new rules are a rare win for multilateralism. “At a time when the international trading system faces profound challenges, the Agreement on Fisheries Subsidies sends a powerful signal that WTO members can work together in a spirit of cooperation and shared responsibility to deliver solutions to global challenges,” she told delegates.

Globally, governments spend about $35 billion annually on fisheries subsidies, with $22 billion of that considered harmful to marine life. The UN Food and Agriculture Organization (FAO) estimates that more than one-third of the world’s fish stocks were overfished in 2021, up from just 10 percent in 1974.

FAO and WRI react

For Nigeria, where coastal communities depend heavily on small-scale fisheries for food and jobs, the agreement offers a framework to protect livelihoods. With growing concerns over illegal trawling in the Gulf of Guinea and the depletion of local fish stocks, ratification signals Abuja’s intent to align with global sustainability rules.

Reactions from environmental and development organizations underscored the deal’s importance. Tom Pickerell, global director of the World Resources Institute’s Ocean Program, described it as a breakthrough: “This agreement marks a critical step toward curbing the government incentives that drive the overexploitation of fish stocks. These harmful subsidies make it profitable to continue fishing even when stocks are declining.”

He warned, however, that the next stage of negotiations—dubbed “Fish 2”—must go further and faster: “It should not have taken over 20 years of negotiation to agree to stop subsidising the destruction of fish stocks. Neither the declining marine environment nor the communities who depend on it can afford to wait.”

The FAO also welcomed the agreement, calling it “very positive for the sustainability of fisheries resources, which we all depend on.” Manuel Barange, FAO’s assistant director-general, added that “the world cannot afford to subsidize practices that compromise the long-term benefits of the sector.” FAO said it would support implementation through technical assistance and capacity-building, especially for developing countries.

The WTO has already established a Fisheries Fund, backed by pledges of more than $18 million, to help poorer members implement the agreement. Nigeria and other developing nations are eligible to apply for grants to strengthen monitoring, compliance, and sustainable fisheries management.