How to Start Fish Farming Business in Nigeria?

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fish farming business

Fish farming is one of the  many farming businesses that have experienced remarkable breakthrough and acceptance  in Nigeria for many years. If you’re keen to start a farming business, fish farming is unarguably one of the most profitable farming businesses you can invest in.

There are other farming businesses such as poultry farming but fish farming happens to be the most profitable farming business you can do in Nigeria. A fish farming business requires sufficient capital and fortunately, this article will enlighten you on some of the requirements you need for starting  a fish farming business.


How To Start Fish Farming Business In Nigeria (Plan & Cost Analysis)
Key Things Needed to start a fish Farming Business

Key Things Needed to start a fish Farming Business

  • Acquiring a Piece of Land

The first thing you need to start fish farming is a suitable piece of land. You can set up this land in any environment but make sure there is sufficient water supply in that environment. Moreover, the size of this land depends on the number of fish ponds you wish to set up as well as your desired scale of output.

Probably, one plot of land should be enough for you if you have a moderate budget for fish farming. But if you think you need to breed fish on a broader scale, you can set aside two or more plots of land.


  • Making a Borehole

Water is one of the indispensable resources you need for fish farming. Fish are aquatic animals and tend to survive favorably when there is a substantial supply of water. To maximize the benefits you can derive from fish farming, you need to make a borehole and ensure the borehole produces satisfactory water.

Also, experts in fish farming claim the best sources of water for breeding fish are river water and borehole water.


  • Constructing a Fish Pond

After making a borehole with sufficient water, you can then set up a fish pond. But again, this is very technical to do and you may require the service of a professional.

Alternatively, you can contact experienced fish farmers to inquire about the equipment and instructions you need to construct a fish pond.

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  • Learning about Fish Farming

Fish farming is not a business you dabble in. you must have adequate knowledge of it before you establish it. For the fact that fish farming requires a lot of spending, you’re expected to acquire much knowledge of it so that you don’t end up as a loser.

Attending fish farming seminars is a good idea but as a piece of advice, you still have to interact with an experienced fish farmer who can enlighten you on the ins and outs of the business.


Experimental Feasibility Study For Standard Fish Farming

This feasibility study prepared for a catfish farm capacity of 10,000 and fingerlings of high breed catfish where to be stocked. The expenses from pond construction to marketing is considered. The farm is to have 10 concrete ponds of flow through system and each pond is to contains 1,000 stocked catfish.

Cost of Constructing Each Pond is as Follows

Each pond is 3m x 2.5m by 1.4m, each pond consumes 210 blocks and each bag of cement for 30 blocks. Hence 210 x 10 = 2,100 blocks. 2,100/30 = 70 bags of cement needed. 2000 x 70 = 140,000 naira.

  • 4trips of sand used = 7,000×4 = N28,000
  • 2trips of gravel = 32,000x 2 = N64,00
  • Cost of labour = N150,00
  • Cost of plumbing (inlet and outlet facility) = N100,000.
  • The cost of bore hole = N150,000.
  • Cost of treatment = N50,000.
  • The cost of high breed fingerlings 30×10,000 = N300,000.
  • Cost of feeding from day one to maturity stage is 200 bags of foreign feed = N1,000,000.

After the average weight of the fish was 1.7kg. And it was sold at 800 naira each. The output was 800×9800 fishes, due to 200 mortality. 800 x 9800 = N7,840,000.

Input is N3.25’million. The profit is N4.59 million after six months of culture. Following this cost analysis, you can easily invest N3 million and expect good turnover within six months of harvest and sell.

There is no doubt that fish farming is among the list of lucrative businesses in Nigeria. You need to get it right by drawing complete business plan and following it to the later. You need to apply good management skill and follow the acceptable standard.

If you do all these, you are sure to make good profit from your fish farming business in Nigeria, Kenya, Ghana, South Africa or where else you choose to set it up..Source


 

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