A plot of land with this technology will harbor at least 50,000 snails with start up breeders of at least 5000pcs. 1. I forgot to mention that the cost of starting a fish farm is high, it I capital intensive when compared to poultry farming. Your email address will not be published. Set up takes at least a month after which the snails can arrive. Starting a catfish farm entails: google_ad_height = 250; InfoGuide Nigeria is a multi-author blog in Nigeria founded by Ifiokobong Ibanga. google_ad_client = "ca-pub-9755093768544960"; Fish sells faster than most other animal products in the market. If you have a fish market nearby, that’s great, you can start building the pond. One of the most widespread agribusinesses in Nigeria is fish farming and for considerable reasons. we respect your privacy and take protecting it seriously. If no, maybe, it’s better to consider searching for a better pace. google_ad_slot = "9979770738"; Like every other business, there are startup factors and costs involved in starting a fish farm business. So market demand is always high for fish … Although, Fish farming is a lucrative business which requires time, patience and money. Mariam holds a bachelors degree in Economics from Obafemi Awolowo University, Ile-Ife, Osun State. Fish farming is a very lucrative business and a profit maker all year round. Research extensively on marketing to find out the species of fish with the highest demand in your area. Cost of Pond construction. Any action taken as a result of information, analysis, or advertisement on this site is ultimately the responsibility of the reader. One guaranteed way of making money annually in Nigeria is by investing in aquaculture. Why? 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. 9 Challenges of Starting a Fish Farming Business In Nigeria. The total cost, revenue and profit expected from fish farming in Nigeria were explained. And most of this people are directly or indirectly involved with fish products or fish farming business. Fishes do not constitute environmental nuisance so the land does not need to be in a remote area. Acquire knowledge on how to run your fish farm or employed skilled and experienced labour. Find relevant information that will make your business thrive, Sign up to find business related information, connect with other business owners and experts. This is because market forces and environment differ for one location to the other in Nigeria. Your email address will not be published. Get useful articles targeted towards your business. With nothing but fish farming feasibility studies at your disposal, it can be discouraging. RUNNING A FISH FARM AS A BUSINESS for Fish Farming Business Plan In Nigeria. A few of those can be used for commercial fish farming in Nigeria. 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 Fish farming business in Nigeria is not something new. Get your juvenile fish from another farm that supplies it or grow yours. This is because market forces and environment differ for one location to the other in Nigeria. Clarias gariepinus, Heterobranchus bidorsalis, Heterobranchus hybrid (Heteroclarias), Clarias nigrodigitatus, Heterobranchus spp, Clarias spp etc. Catfish farming is the act of growing one of the diverse group of ray-finned fish for commercial purpose in Nigeria. Fish farming has no by products like poultry so there is no extra or alternative form of making profits outside selling the fish itself. People around Nigeria engage in fish farming business especially those who live in places blessed with abundant fresh water. Why fish farmers fail in Nigeria is because of the believe that fish farming requires little investment which results in huge profits. Isn't it fascinating to know that most lipsticks ladies wear today are made from fish scales? 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. Entrepreneurship Ecosystem Research Reports. Fishes are a known source for protein, and fish farming involves the planned growth and cultivation of fishes in tanks […] Our aim is to provide daily living guide for Nigerians and her friends. Breeding fish for sale requires transportation and logistics. Note: this article is first published in 2016.A feasibility study carried in Anambra state and prepared for a catfish farm … 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 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. In this article, we will look at the cost of starting a fish farm in Nigeria. 4. Do you have a fish farm? 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. 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. The cost of starting up a fish farm business in Nigeria varies widely. Setting up fish farm is capital intensive, much more than that of poultry and snail farming. You will need the location to be easily accessible to labour and market. 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. How Much Does it Cost to Start a Fish Farm in Present Day Nigeria? The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of anyone else. 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. 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. There are numerous species of catfish around the world. Fishes are bought in bulk also by people making health and beauty products. Get Healthy Juveniles. 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. Running a fish farm as a business. Frequently asked question and answers. The author may or may not have a financial interest in any company or advertiser referenced. 1. One peculiar thing to note about fish farming business is that fish feeds consume a lot of money spent in the market. Ordinarily we … If you are considering this line of business, here are startup costs to put together. This clearly shows that apart from the obvious purpose of nutrition which fish serves, it also has cosmetic and fashion purposes. 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. Aquaculture is the farming of aquatic organism — fishes, crustaceans, mollusks etc., in fresh, salty or brackish water. You will need capital for labour, land, pond construction, equipments and all other operational costs. google_ad_slot = "8444795376"; 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. are common and most popular catfish species for commercial fish farming in Nigeria. People usually ask the cost of starting a fish farming business in Nigeria or how to effectively write a fish farming business plan. Setting up fish farm requires more careful planning and much capital input. 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. Teaching kids the art, Running a business comes with a lot of risks but starting early could help develop your business. There are no environmental hazards involved in fish farming, you can set it up anywhere even in residential areas unlike piggery and poultry. Writing for her is a form of detoxification, she has written several articles for Essence magazine and runs political commentary on twitter. Fish farming means rearing fishes commercially in tanks, ponds or other enclosures for the purpose of producing food. Fish Feed Dealers in Nigeria. This is because it has its own internal snail fields irrigation system. 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. More than 1 billion people around the world depend on fish as their primary protein source. Fish farming has economic and personal. READ ALSO: How to start tilapia fish farming in Nigeria?There are several crucial things to keep in mind before you even get started. 3. 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. Get interesting stuff and updates to your email inbox daily living guide Nigerians... Of naira Project guide the following article gives information on ” fish farming business tanks. 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