Naku, get your bacon nice and rendered first, anak. Cook that chopped bacon in a large skillet over medium heat for about 5 minutes until the fat starts coming out.
Add the diced onion to the bacon and cook together for another 10 minutes until the onion is soft and golden. Don't rush this part — it builds the flavor foundation.
Season your cod pieces with salt and pepper, then nestle them right into the pan with the bacon and onions. Move the bacon mixture around the fish, not on top, so everything cooks evenly.
Cook the cod about 5 minutes on one side, then flip gently. Continue cooking until the fish flakes easily with a fork — maybe 3-4 more minutes depending on thickness. (The fish is done when it's opaque and breaks apart easily. Don't overcook or it gets tough, ha.)
Remove the fish, bacon, and onions to a warm serving platter and cover to keep warm. This is where the magic happens next.
Lower the heat and add butter to the same pan with all those good drippings. Sprinkle in the flour and stir, cooking until it smells toasty and turns light brown — about 2 minutes.
Slowly pour in the milk, whisking constantly so no lumps form. Keep stirring until you have a thick, creamy gravy that coats the back of your spoon.
Ladle that beautiful gravy over the fish and bacon. Serve immediately with steamed rice or buttered potatoes — both soak up that gravy perfectly.
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