Starting a Fish Farm Business in Nigeria

 

Starting a Fish Farm Business in Nigeria

   Fish a great source of protein and highly recommended by nutritionists around the globe for all sets of age, Fish farming is the rearing of fish for business or commercial purposes. It involves the buying of fingerlings, getting a good location, the building of the ponds, etc.

     fish farming is one the fastest growing and lucrative business in the 21st century. It is also known as aquaculture, it involves the breeding, rearing of fish in an artificial way. While fish naturally live in seas, rivers, oceans and lakes, they are many species of fish, among which them are: catfish, salmon, tilapia, bighead carp, grass carp, trout, etc. 

    however, most of these fishes are not suitable for fish farming in location like Nigeria, it could be because of their habitat (type of water), or because of their low market demands etc.

 

Read more: Starting a dry season farming business in Nigeria (maize)

 

    it is the reason why most fish farmers go into fish species like cat fish, tilapia, carp and salmon, which the first two, tilapia and cat fish are the most popular in Nigeria.

               They are two ways in which a fish can be grown:

    Extensive fish farming where fish grows in it natural habitat which are place like river, lake, ocean etc.

    Intensive fish farming is where fish are feed with their agricultural processed feeds.

     A question that always rings to people who want to venture into fish farming business considering their location in which fish is the most profitable to go into, well I did I choose to answer the question straight and simple; Tilapia and Catfish and the purpose or reason is considering our climate and their market demand and growth.

                How Much Does it Cost to Start a Fish Farm in Nigeria

        Of course, before starting a business you need to know the cost needed to kick start same as fish 

farming, let us start by breaking putting down the list of things to be done and the charges it will cost.

 Pond rentage 

 Pond preparation

 Netting

 Procurement of fingerlings

 Feeds

 Cost of feeding

 Logistics cost 

 Security

 Medication

 Cost of cropping

 



Here is our cost analysis for the above list


Cost Analysis

  1. Pond rentage – for six months (1000 fingerlings) N15,000
  2. Pond preparation – applicable to plastic (drum like) N10,000
  3. Netting – (including labor) N5,000
  4. Procurement of Fingerlings (N25 each ranging gram 6 -10) N25,000
  5. Feeds – N44,000
  6. Local feed - (1,700kg @ N280/kg) N392,000
  7. Logistics cost – instance N2,000/month
  8. Security – instance of N2,000/month = N10,000
  9. Medication – (optional) N2,000
  10. Cost of cropping - N 4,000

Total: N512,000
Sales Analysis (expected)
Quantity harvested:
900kg of fish (as if the time article is written N1000/kg) = N900,000
Total: N900,000
Net profit = total sales – cost of production
Net profit = 900,000 – 512,000 = 388,000


Conclusion


As it is, the higher the number of fishes of fish stocked, the greater the profit expected.

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