Stockfish called “panla” in Yoruba and “Okporoko” in Igbo is a coveted source of protein in many Nigerian delicacies. The sale and consumption of stock and dry fish is currently experiencing an extraordinary boom, Okikiola Ajibola, a stock fish trader at Utako modern market says; ADEOLA AKINBOBOLA writes.

Findings from local traders in Nigeria reveal that a bag of stockfish sells for around a hundred thousand to one hundred and fifty thousand – about five times the price of a regular fish like croaker.  

Many Nigerians, especially Madam Okikiola Ajibola, a native of Osun state have seen the business as very lucrative. 

Madam Okiki, as she is fondly called, told Business Starter that fishes, stocks have been witnessing increasing patronage especially in this festive season. 

Business Starter notes that most homes now prepare a lot more fresh fish soups and other assorted delicacies. 

According to her, Men are the ones who engage in sales of stock fish. She went into it because she wanted to assist her aged mum to train her siblings. 

She explained that while waiting to get a job, she prefers assisting her mum in the business as she spends longer hours in the market because the fish are in high demand. 

Stockfish importation 

In 2022 alone, Nigeria imported around N3.2 billion worth of stockfish from Norway, although the figure decreased by 5.9 per cent from N3.4 billion in 2021.

She said the days of high patronage ‎ are usually on Friday, Saturday and also during the yuletide season, adding that soup ingredients have become very expensive due to biting economic hardship.

‎She said; “Customers order for them in advance, but that depends on their respective weights. Big hotels and restaurants will start booking. They are also sold to traders who buy as much as they can. Big hotels buy over N50,000.”

“Weekends ‎are usually our season. That is when we make great sales. If the situation is good, restaurant operators buy more than N100,000 per day.”

Stock fish preservation 

‎Speaking of the way the fishes are preserved, Okiki explained that they don’t sell dead fishes before smoking them.  

She explained that her mother also owns a fish pond. According to her, the fishpond was constructed during the dry season, between November and December. 

“In those months stranded fishes in shallow waters could be caught. If they are well ‎preserved in drums they might last as long as you change the water,” she said.

Fish pond maintenance 

Madam Okiki while giving tips ‎on fish ponds said it can be confined in an environment to restrict the fishes.  

On security, she said it was a priority for any fish farmer to fence their ponds as it is necessary to control human encroachment and make sure the fishes were in good health. 

“Once you notice that the fishes are not eating and swimming ‎well, it means they are sick, and one needs to immediately call a doctor.

“Once some fishes are 30 per cent bigger, they can eat up smaller ones. We prevent loss by sorting bigger ones of the small sizes and putting them into different, bigger ponds,” she said.

Supporting fish farmers 

She urged the government ‎to support fish farmers, noting that this was a sure way to boost the economy. 

The Feed the Future Nigeria Agricultural Policy Project conducted a capacity building for fish farmers, researchers and students in Niger and Kebbi states.

The event which focused on value chain concepts and analysis in the fish subsector brought participants from the private sector, government, research institutes, as well as three universities.

Michigan State University (MSU) experts led by Dr Tom Reardon and Dr Saweda Liverpool-Tasie presented the current international best practices of using representative samples of key nodes across value chains to understand the structure, conduct and performance of value chains and their actors.

The training sessions provided detailed steps to conduct such studies and empowered participants to apply these techniques for a more accurate and holistic perspective of various agricultural subsectors in Nigeria.

The benefiting institutions were Kebbi State University of Science and Technology, Aliero, Federal University of Technology, Minna and Ibrahim Badamosi Babangida University, Lapai working alongside farmers.

The 4-days training exposed participants to the skills needed for proper data collection when basic information needed for developing a sampling frame is lacking.

Starting a stock fish business

It is easy to start a stock fish business in Nigeria. All you have to do is look around for an importer or big dealers in stock fish and buy from the individual. 

Many of such dealers can be found at Onitsha relief market. There are assorted quantities of these fishes at ‎Aba and other big markets across in Nigeria, especially in the Southern part of the country. 

Before you make your choice you should first do a feasibility study, during which you will find out the type of stock fish that sells the most. 

They are normally sold in sacks. They are packed as a mix part, whole, cod fish, middle cut, head parts depending on what is in high demand in your area. 

The form you choose can also determine how much you end up ‎paying for the stock fish.

The business does not have to be expensive to start. You can start with as little as N20,000. By the time you finish resettling the stock fish ‎, you can make double the amount you spent on purchasing it.

The best place to sell your stock fish at a busy spot in the city or a busy market. You can also ask for market days of the same markets in your area since more people come to these markets on such days.