By Chinenye Anuforo
The Norwegian Seafood Council and importers of stockfish in the country have continued to lament the forex restriction on importation of stockfish.
This is even as Norway explores ways to deepen existing bilateral relations with Nigeria.
Nigeria and Norway have had strong trade ties spanning over many years.
Both countries’ bilateral relations have grown considerably with trade on Stockfish, which is a staple food in Nigeria. But the continued foreign exchange (forex) embargo placed by the Central Bank of Nigeria (CBN) on some items, including stock fish is a cause of concern to them.
CBN had, in 2015, listed pelagic fish and stockfish among 44 items not valid for forex window.
Speaking at the seminar convened by the Norwegian seafood Council in Lagos, the Norwegian Ambassador to Nigeria, Knut Lein, said that strengthening and promoting the trade ties with Nigeria is important to Norway.
“We are here basically to discuss ways to increase the trade of stockfish between our two countries. To make stockfish cheaper and more accessible to the Nigerian people,” he said.
Lein noted that it is important for Nigeria to reconsider its forex denial on stockfish imports as the seafood is highly nutritional and has become a part of the local delicacies.
“We need the Nigerian government to help us. We think stockfish should get access to forex. We need lower import taxes and less bureaucracy.
Norway understands that Nigeria needs to grow its own fish industry, to which Norway stands ready to assist Nigeria realise,” Lein pointed out.
On his own part, Norwegian Minister for Fisheries and Ocean Policy Rt Hon. BjornarSkjaeran argued that the major challenge affecting Norway, Nigeria trade relationship remain the currency restrictions.
He said the forex restriction makes it much more difficult and much more expensive for Nigerian importers and stock fish customers to buy fish from Norway.
“In recent times, the situation has gone from bad to worse. And the industry is really concerned that Stockfish prices may reach a level that will seriously restrict trade”, he said.
Giving reasons why stock fish should be removed from the list of items with fore x restrictions, he said “Norwegian stockfish is a unique seafood product that can only be produced in the special climate of Northern Norway. The stockfish is not a direct competition with the locally produced fish in Nigeria. Second, the volume imported each year is low compared to other important fish products. So the inputs do not negatively affect the local production of fish in Nigeria. Third, the region Stockfish is an extremely healthy sole source for protein. It comes it contains as much less 80 percent protein. It is low in fat, and it contains essential vitamins. The currency restrictions have led to increased prices for Stockfish. It is unfortunate if the price increase prevents people from buying this nutritious product.”