Overall Goal: To ensure sustainable management of fisheries and other aquatic resources of inland water bodies of Nigeria for fish production now and in the future through research and training

Mission: To develop available fisheries and other aquatic resources in Nigeria on sustainable basis.

Motto: Fish from Thought

Mandates of the Institute: To achieve the above goal, the Institute is charged with the following:

• genetic improvement of freshwater fishes and other aquatic resources in rivers and lakes (natural and man-made).
• ensure the abundance and distribution of  freshwater fishes and other aquatic resources.
• ascertain the hydrological behaviour of natural and man-made lakes.
• limnology of surface and ground water around natural and man-made lakes.
• rational exploitation and utilization of freshwater aquatic resources.
• ecological and socio-economic effects of the development of man-made lakes.
• improvement in aquacultural activities among fishing communities and fish farmers
• any other matter related to the  above.

The Institute shall in addition:

• Carry out extension research liaison services with the Federal as well as State Ministries, primary producers, industries and other users of research results on matters of freshwater fisheries and other aquatic resources in collaboration with NAERLS.
• Provide technical and vocational training in freshwater fisheries and related fields leading to the award of National Diploma.
• Provide laboratory and other technical services to fish farmers, industries and others concerned with freshwater fisheries problems.
• Collaborate with all  relevant Research Institutes, Universities and other organizations including agencies in both public and private sectors.