Fish Import Gulps $2.23bn
There is suspicion that the proposed ban on fish importation would not work out as no fewer than 39 companies have been licensed to import 2.48 million metric tonnes of fish valued at N915 billion ($2.23 billion) in 2021.
The country currently has capacity to produce only 1.123 million tonnes yearly. This is coming as illegal foreign vessels have infiltrated the country’s coastal waters, doing transshipment from small fishing boats to larger refrigerated carriers.
Global price of fish as at February 2021 was $900 per metric tonne. It was gathered that the illegal operators were fond of switching off their Automatic Identification System (AIS) tracking signal to avoid arrest by the Navy…
More details through:
Leave a Reply.
News Archive from before July 2018