Despite being the largest producer of fish in Africa, Nigeria has spent about N500 billion on fish import in the last 11 months, it was learnt
Findings revealed that the higher cost of imported fish products since 2015 and the 2019 devaluation of the naira are yet to create the necessary opportunity for domestic fish production to compete with imported fish.
Therefore, the plan by the Federal Government to ban the importation of this essential staple food next year, industry players said, may suffer a setback.
For instance, between January and June this year, the National Bureau of Statistics (NBS) noted that the blue whiting species worth N62.4 billion was imported, herrings’ imports amount to N35.53 billion and mackerel fish were imported for N25.75 billion.
It added that between January and March, this year, the biggest import was recorded; when blue whiting fishes worth N27.23 billion were imported from Russia alone.
The number of fish imported into the country between July and November this year, sources at the Federal Ministry of Finance said, was worth over N200 billion. The Nation