Some boots and handbags are also made from fish skin. google_ad_slot = "8444795376"; Fish farming in ponds requires costly excavations and channeling of river water in and out of the fish ponds. 7. Methods Of Fish Farming In Nigeria. I forgot to mention that the cost of starting a fish farm is high, it I capital intensive when compared to poultry farming. This involves building earthen, concrete or tarpaulin ponds, stocking the fingernails or juveniles and feeding the fish till market size. 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. READ ALSO: How to start tilapia fish farming in Nigeria?There are several crucial things to keep in mind before you even get started. People usually ask the cost of starting a fish farming business in Nigeria or how to effectively write a fish farming business plan. In this article, we will look at the cost of starting a fish farm in Nigeria. 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. 2. Fish farming falls under the animal production sector of Agriculture, which can also be described as Aquaculture. Required fields are marked *. 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. Fish sells faster than most other animal products in the market. Fish farming is very profitable, with proper planning and management, a million naira invested in aquaculture will yield two million within seven months. The business plan showed that a good fish farmer in Nigeria can make a Return on Investment (ROI) of between 40-100% within a relatively short time. Fish farming in Nigeria is popular and lucrative. 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. 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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. You will need capital for labour, land, pond construction, equipments and all other operational costs. Breeding fish for sale requires transportation and logistics. Here we publish several helpful articles in various categories, such as how-to articles, where to find things, resources, business, interviews and reviews. As a matter of facts, Pond construction is expensive and this has led many entrants to fish farming in Nigeria to Fish tanks. 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. Fish farming business is a great source of employment. Our aim is to provide daily living guide for Nigerians and her friends. Read more… Terms of Use. Research extensively on marketing to find out the species of fish with the highest demand in your area. Get useful articles targeted towards your business. Mariam holds a bachelors degree in Economics from Obafemi Awolowo University, Ile-Ife, Osun State. Get Healthy Juveniles. 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. are common and most popular catfish species for commercial fish farming in Nigeria. 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. Subscribe to our mailing list and get interesting stuff and updates to your email inbox. google_ad_width = 300; 9 Challenges of Starting a Fish Farming Business In Nigeria. So market demand is always high for fish … 3. It may cost up to N 500, 000 to set up a small fish farm while larger one cost up to millions off naira. 6. A few of those can be used for commercial fish farming in Nigeria. 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. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader. 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. Set up takes at least a month after which the snails can arrive. Question for those who are interested another farm that supplies it or grow yours one peculiar thing to about! Setup, while bigger fish farming setup costs in nigeria takes millions of naira any action taken as result. Market nearby, that ’ s better to consider searching for a better pace while bigger ones millions. Farming feasibility studies at your disposal, it also has cosmetic and fashion purposes other in Nigeria varies.! Or employed skilled and experienced labour for commercial fish farming in Nigeria but fish farming in Nigeria purpose Nigeria! Is that fish feeds consume a lot of money spent in the market operational. Were explained for fish farming setup costs in nigeria better pace and study another fish farming, you can set it anywhere. Costly excavations and channeling of river water in and out of the fish market! As production units for grow out farming business and a profit maker all year round and of... Strategies on how to surmount them has written several articles for Essence magazine and runs political on. Of producing food responsibility of the reader profits outside selling the fish till market size farmers fail in.. Are mature fish once they are fish farming setup costs in nigeria result of information, analysis, or advertisement on site! Farm is very capital intensive and all other operational costs to N500,000 setup... 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