The cost of starting up a fish farm business in Nigeria varies widely. Where there are a good number of fishermen in the market, the demand for pond fish maybe low. Do you have a fish farm? Operational cost for stocking 3,000 catfish. Fish sells faster than any other animal products in Nigeria and sometimes sell cheaper than meats, fish constitutes more than sixty percent ofmeat products and are high in low fat protein that is filled with omega 3 fatty acid and vitamins D and B2, calcyuim, phosphorous, iron, zinc, magnessuim and pottasuim. Fish is Priced High Fish Feed Dealers in Nigeria. READ ALSO: How to start tilapia fish farming in Nigeria?There are several crucial things to keep in mind before you even get started. This is because it has its own internal snail fields irrigation system. Starting a catfish farm entails: So dig a bore hole and purchase over head tanks which must be connected to the ponds through plumbing system to make it convenient for water to get into ponds as the need arises. For instance, the cost of land to build a fish pond in Lagos varies significantly from the cost of land in Kafachan, Kaduna State. google_ad_height = 600; Lami is from cross river state and holds a B.sc in accounting from a Nigerian university. How to start fish farming. Fish farming in ponds requires costly excavations and channeling of river water in and out of the fish ponds. Aquaculture is the farming of aquatic organism — fishes, crustaceans, mollusks etc., in fresh, salty or brackish water. Required fields are marked *. This implies that we need to import fish massively to meet up with its demand no wonder Nigeria is ranked as the largest importer of frozen fish in Africa. Why? Note: this article is first published in 2016.A feasibility study carried in Anambra state and prepared for a catfish farm … She currently works at FATE Foundation as a Digital Programs Officer. Read Also: How to Start Catfish Farming Business in Nigeria. Setting up fish farm requires more careful planning and much capital input. To start a fish farm, you will have to invest as much money as possible depending on the size you want to start with, but it is advisable to start on a small scale before expanding as you acquire experience because catfish farming is a major investment operation that needs careful consideration before start up. And most of this people are directly or indirectly involved with fish products or fish farming business. This clearly shows that apart from the obvious purpose of nutrition which fish serves, it also has cosmetic and fashion purposes. Your email address will not be published. Here we publish several helpful articles in various categories, such as how-to articles, where to find things, resources, business, interviews and reviews. Mariam holds a bachelors degree in Economics from Obafemi Awolowo University, Ile-Ife, Osun State. Methods Of Fish Farming In Nigeria. Fish farming business is a great source of employment. Catfish Farming in Nigeria: Advantages. Your email address will not be published. Setting up fish farm is capital intensive, much more than that of poultry and snail farming. Isn't it fascinating to know that most lipsticks ladies wear today are made from fish scales? However, the cost to start a fish farm will depend on so many factors which includes the size of the farm you want to start. High Cost Of Fish From The Farm There are no environmental hazards involved in fish farming, you can set it up anywhere even in residential areas unlike piggery and poultry. Find relevant information that will make your business thrive, Sign up to find business related information, connect with other business owners and experts. Get Healthy Juveniles. google_ad_slot = "9979770738"; These can be further nurtured for the next four to five months into grow out sizes or table sized fish suitable for sale and consumption. One guaranteed way of making money annually in Nigeria is by investing in aquaculture. The beauty of this technology is that it can be done all year round and anytime of the year. Like any other form of animal husbandry, fish farming can be risky because fish is very sensitive to manage and a little slip or error will hinder the growth of your fish and even death which will lead to a huge loss. To place an order, pay N10,000 to Fish farming means rearing fishes commercially in tanks, ponds or other enclosures for the purpose of producing food. These are tips on how to start fish farming. google_ad_height = 250; InfoGuide Nigeria is a multi-author blog in Nigeria founded by Ifiokobong Ibanga. Set up takes at least a month after which the snails can arrive. Find at least half plot of land which is very suitable for an average fish farm but you can settle for something bigger if you can afford it. Starting a catfish farm entails: 1. 9 Challenges of Starting a Fish Farming Business In Nigeria. Fish farming falls under the animal production sector of Agriculture, which can also be described as Aquaculture. Teaching kids the art, Running a business comes with a lot of risks but starting early could help develop your business. It is more capital intensive than poultry farming business. Hurry now, GET YOUR FISH FARMING BUSINESS PLAN IN NIGERIA. A small fish farm can be started with five hundred thousand naira and above while a bigger farm will require millions of naira for start up. Get your juvenile fish from another farm that supplies it or grow yours. Like every other business, there are startup factors and costs involved in starting a fish farm business. Ordinarily we … The cost of starting up a fish farm business in Nigeria varies widely. Our aim is to provide daily living guide for Nigerians and her friends. How to start fish farming in Nigeria is always a question for those who are interested. With nothing but fish farming feasibility studies at your disposal, it can be discouraging. It may cost up to N 500, 000 to set up a small fish farm while larger one cost up to millions off naira. You will need the location to be easily accessible to labour and market. 5. Every successful fish farmers know this. Fish farming also known as Pisciculture involves the act of rearing fish such as catfish, Mackerel etc. We also have the issue of competitive sales between fishermen and fish farmers; fish from the sea tastes better than fish grow in ponds and the cost of rearing fish makes the price of pond fish high. 6. With the right knowledge and practise you are sure of getting hundred percent return of your investment in fish farming. 1. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of anyone else. These are smaller units but are believed to be easier to manage as production units. The commonest species of fish reared on fish farms in Nigeria is the cat fish and this write up summarizes the basics of cat fish rearing. 3. Juveniles are the little fishes you’ll need to grow to table-size. It is a lucrative business which requires time, patience and money. Find and study another fish farming business plan, use it as a guide in drawing your own plan. The cost and revenue analysis of engaging in fish farming business in Nigeria was also highlighted. You must enable Javascript on your browser for the site to work optimally and display sections completely. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Fish farming has no by products like poultry so there is no extra or alternative form of making profits outside selling the fish itself. There are numerous species of catfish around the world. Fish Farming in Nigeria – Photo Source: https://www.herald.co.zw Now, if your desire is to raise tilapia fish, then you have to make sure that the area in which you want to raise tilapia has a water temperature that is, at least 20″C which is about 68″F. You can sell and distribute imported fish feeds like ziegler gold and you can formulate local fish feeds and se up a fish feed mill. Lysek farm is registered company in nigeria with this type of fish pond, there is no need to put up with high cost and all the inconveniences that come with concrete, earthen or plastic ponds. google_ad_client = "ca-pub-9755093768544960"; Offering consultancy services in hatchery design, fish pond construction, spawning, melange and grow out production can also boost your business and create extra returns on profit. What are the consequences of copyright infringement? google_ad_slot = "8444795376"; Fish farming in Nigeria is popular and lucrative. The grow out fish farming is dependent on the nursery because a farmer cannot grow fish without a nursery which involve the inducement of the female fish to lay eggs, which are then fertilized, incubated and hatched into little fishes known as fries. I believe that money spent on importing fish can be injected into domestic production to boost agriculture, reduce cost of fish, create jobs and reduce poverty. Cost of Catfish farming in Anambra State Nigeria: A Case Study. Map out strategies on how to sell your fish once they are mature. Catfish farming has really made me comfortable because the market is readily available. A few of those can be used for commercial fish farming in Nigeria. google_ad_width = 300; As a result, fish farming creates a great income and employment source for the people. Fishes do not constitute environmental nuisance so the land does not need to be in a remote area. The fries are then nurtured within a month into fingerlings which is the suitable size for grow out farming. How to Start Catfish Farming Business in Nigeria. 4. RUNNING A FISH FARM AS A BUSINESS for Fish Farming Business Plan In Nigeria. Fish farming is very profitable, with proper planning and management, a million naira invested in aquaculture will yield two million within seven months. Clarias gariepinus, Heterobranchus bidorsalis, Heterobranchus hybrid (Heteroclarias), Clarias nigrodigitatus, Heterobranchus spp, Clarias spp etc. People around Nigeria engage in fish farming business especially those who live in places blessed with abundant fresh water. The success of the construction of fish pond will depend on these factors. Fish farming has economic and personal. are common and most popular catfish species for commercial fish farming in Nigeria. With more and more women holding down full-time jobs or running a business full time, there is a, Hospitals play a crucial role in providing health services in communities and in the nation as a, Isn't it fascinating to know that most lipsticks ladies wear today are made from fish scales? Fishes are bought in bulk also by people making health and beauty products. Construct your ponds with be services of an expert pond construction engineer to avoid mistakes and to meet specifications and construction requirements and provisions must be made for proper drainage. This involves building earthen, concrete or tarpaulin ponds, stocking the fingernails or juveniles and feeding the fish till market size. The author may or may not have a financial interest in any company or advertiser referenced. Let’s set the ball rolling by listing some of the expenses that will be incurred before, during and at the end of the production process. To meet the high demand for fish in Nigeria which is spiked by its high nutritional value and unique taste of fish delicacies, we will need over two million metric tons of fish but the total domestic fish supply is currently less than 0.7 million metrics. Some boots and handbags are also made from fish skin. 1. we respect your privacy and take protecting it seriously. One peculiar thing to note about fish farming business is that fish feeds consume a lot of money spent in the market. If you have a fish market nearby, that’s great, you can start building the pond. In this article, we will look at the cost of starting a fish farm in Nigeria. Save my name, email, and website in this browser for the next time I comment. If no, maybe, it’s better to consider searching for a better pace. This is because market forces and environment differ for one location to the other in Nigeria. Why Fish Farm in Nigeria Fish is one of the favorite items in the food menu of almost 55% of Nigerians after beef and pork. Running a fish farm as a business. According to a report by Fishery Production Statistics, Nigerians consume about 1.2 million tonnes of fish per year, out of which about 60% is imported. Read more… Terms of Use. How you can make your millions from fish farming business in Nigeria therefore brings to your notice salient issues relating to fish farm business profitability by highlighting fish farming setup steps, costs and revenue/income generation propositions. Starting a fish farming business in Nigeria, you must have adequate capital. Subscribe to our mailing list and get interesting stuff and updates to your email inbox. The corona virus (COVID-19) pandemic has led to unprecedented disruptions to global supply chains, The Federal Government of Nigeria recently approved twenty-seven (27) new industries for, Today's workforce is slowly transitioning into a workplace filled with technology savvy fun lovers, Most MSMEs in Nigeria are often registered as either Business Names or a Private Limited Liability, It might sound cliche to say that children are our future; but it is so true. Mariam Adeoti is a project volunteer and loves participating actively in several non-governmental related projects. Fish farming business in Nigeria is not something new. Expensive to Set Up: The initial setup costs for fish farming in Nigeria may be expensive due to the need to install fish cages, hatcheries and provision of processed fish food. Fish farming, otherwise known as aquaculture deals with the rearing of different kinds of fishes like catfish, tilapia and mackerel, by use of ponds for domestic and commercial purposes. A relatively small fish farm may take up to N500,000 to setup, while bigger ones takes millions of naira. Make provisions for constant and adequate water supply because this is the back bone of a fish farm, a natural source of water like the bore hole is always the most suitable because chemically treated water is not recommended for cultivation of fish. Fish grows faster than most other animals; hence, the period of the ROI is shorter. A plot of land with this technology will harbor at least 50,000 snails with start up breeders of at least 5000pcs. Fish farming is a very lucrative business and a profit maker all year round. The primary operation is in between the nursery and grow out operation and involves the nurturing of the four weeks within which they grow into post fingerlings, mini juveniles and juveniles. Fishes are a known source for protein, and fish farming involves the planned growth and cultivation of fishes in tanks […] Step 7: With the cost of catfishes at about 500 Naira per kilogram in Lagos, 650 Naira per kilogram in Makurdi, and 750 Naira per kilogram in Abuja, Nigeria, you need to do a really good market feasibility study to understand the type of buyers that’d most likely patronize your own fish Business risks and challenges in fish farming farm. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader. Of course, if you want to start a profitable catfish farm one of the first things you want to know is the cost involved in setting up the farm. The days when the only way to get fish is to catch it in local rivers and ponds are gone, today, modern methods of farming allow to grow fish on farms and monitor revenues. Frequently asked question and answers. Although, Fish farming is a lucrative business which requires time, patience and money. Fish just like any sea food is very rich in protein and micro nutrients, it constitutes about 41 percent of the total animal protein intake thus the consumption of fish in Nigeria is very high and fishermen cannot meet up the demand, the rearing of fish by farmers reduces this deficit in the fish demand-supply gap by boosting supply for both consumption and export purposes. Do share your experience with us. Setup costs; Could cause land poisoning; Generally, most of the problems associated with fish farming can be greatly avoided by having proper knowledge of the trade before nurturing the idea of setting up a fish farm in Nigeria. google_ad_width = 300; A small fish farm can be started with five hundred thousand naira and above while a bigger farm will require millions of naira for start up. Research extensively on marketing to find out the species of fish with the highest demand in your area. This is because market forces and environment differ for one location to the other in Nigeria. There are two divisions of catfish farming, that can be either operated separately or integrated into one process and these are the nursery fish farming and the grow out fish farming. Indoor farming methods are flexed to (1) grow a wide range of fish species, (2) you can rear different species simultaneously in the same tank (polyculture) or different tanks (monoculture), (3) you can raise a variety of different sizes of one or several species based on your market demand and price. Catfish farming is the act of growing one of the diverse group of ray-finned fish for commercial purpose in Nigeria. Breeding fish for sale requires transportation and logistics. More than 1 billion people around the world depend on fish as their primary protein source. If you are considering this line of business, here are startup costs to put together. 3. How Much Does it Cost to Start a Fish Farm in Present Day Nigeria? One of the most widespread agribusinesses in Nigeria is fish farming and for considerable reasons. Fish Tacks takes mostly the form of Collapsible Tarpaulin Ponds or plastic tanks. We will analyse the cost and profit of Catfish Farming alone and our focus will be on 1000 juvenile fish ; Juvenile price is around ₦30 Purchase of 1000 Juvenile at ₦30 = ₦30,000 Feeding is a bit technical, but let us assume we want the Fish at 1 kg, then you must have feed each Fish 1 kg of foreign floating feed, this means you will need 1000 kg of feed The total cost, revenue and profit expected from fish farming in Nigeria were explained. FEEDING COST: for 1,000 / 1050 fishes, you need between 80 to 100 bags of feed to nurse your fish to a 6 months harvest. But be sure you go for high yield species. This modern fish … The cost of starting a fish farm is high, it’s high capital intensive when compared to poultry farming. Some. I forgot to mention that the cost of starting a fish farm is high, it I capital intensive when compared to poultry farming. People usually ask the cost of starting a fish farming business in Nigeria or how to effectively write a fish farming business plan. Write out a business plan that will guide on how much your investments will likely cost, expect challenges and how to surmount them. All of those species are not suitable for farming according to the weather and climate of Nigeria. The content on the InfoGuide Nigeria is provided as general information only. Fish sells faster than most other animal products in the market. 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Page maintained by, 6 Steps to Start Fashion Boutique Business in Nigeria, How To Start A Business In Usa from Nigeria, Steps To Start Cryptocurrency Business In Nigeria And Tips To Succeed. google_ad_client = "ca-pub-9755093768544960"; This production-consumption gap shows that there are ample business opportunities for aspiring fish-farming entrepreneurs to utilize. Fish farming is a feasible, viable and profitable project even the food and agricultural organisation of the United Nations have classified it as the world fastest growing food production sector. Get useful articles targeted towards your business. Why fish farmers fail in Nigeria is because of the believe that fish farming requires little investment which results in huge profits. As a matter of facts, Pond construction is expensive and this has led many entrants to fish farming in Nigeria to Fish tanks. 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