HOW TO START A FISH FARMING BUSINESS IN NIGERIA  

HOW TO START A FISH FARMING BUSINESS IN NIGERIA

It is no surprise that agriculture is returning to its once esteem position in many Nigerian countries; This has ultimately translated into stable source of income, economic recovery and reduction in unemployment among youths.

Various agricultural programs are being setup in many Nigerian countries that has endeared agriculture to the heart of many youths. One aspect that has been blazing the trail lately is fish farming business – a branch of AQUACULTURE.

Fish farming business is basically, the raising and cultivation of different species of fish. Fish farming business has come to stay in Nigeria. It is gradually getting the audience among farmers and non-farmers. This has prompted the Nigerian government to throw her weight to support fish farmers.

CATEGORIES OF FISH FARMING BUSINESS

  1. FISH FARMING: They are the most in demand species. They grace the delicacies of most Nigerian dishes. Their simplicity in cultivation makes them popular among fish farmers.
  2. TILAPIA FARMING: They are species that can be cultivated in rugged terrains. They exhibit fast growth. Their natural habitat are fresh water habitats.
  3. SALMON FARMING: They found in fresh water habitat and oceans too. They are consumed in many households in Nigeria.

SAMPLE BUSINESS FARMING BUSINESS PLAN OUTLOOK

Whether an intending fish farmer wishes to go for fingerling and juvenile production or he wishes to raise to table size. There are steps that must be taken to ensure an effective and successful fish farming business.

STEP1 – Budget For The Business, Don’t Overstock: An intending fish farmer. Should keep in mind that he will be expending a budget, within range of #100,000 – #150,00 to set up a 10ft * 10ft and 4ft * 6ft depth of earth fish pond. It can house conveniently 600 – 800 grown fishes.

This is usually encouraged for a starter fish farmer to enable such farmer learn the ropes. Fish farmers should guide against impulse to overstock.

Overstocking is a very bad practice in fish farming business, because it makes the water to get polluted every time due to the fish faeces that contains ammonia, this will in turn cause depletion of the oxygen content in the pond.

This will cause imbalance in the chemical composition of the water and in turn cause death of the fishes.

Therefore, an intending fish farmer must be careful to know the median capacity of fishes a pond can contain.

STEP2 – Fumigate Your Fish Pond: Fumigation of pond is very important, this can be done using anti-fungal and bacterial product; this is done to clear any bacteria or fungi that might be lurking in the pond. Organic and ion concentration of the pond can also be balanced using manures of animals.

STEP3 – Get Your fingerlings and juvenile: This step involves getting fingerlings and juvenile for the pond. One of the factors to consider when getting juveniles and fingerlings from hatcheries, is to go for brood stock.

This means that hatcheries with both male and female brood stock, this is done to ensure viability and to make sure the intending fish farmer choose the best of shooters (shooters are fingerlings that big in size).

Effort should be made to guide against purchasing runts (fingerlings with retarded growth). They usually have white patches and thin bodies. Prices varies according to quality and hatcheries. A fingerling cost not more than #10, while a juvenile cost not more than N20 – N40.

STEP4 – Stock Your Fish Feed: Feeding is the bulk of the capital for fish farming business setup. Feeds are in various form according to age and size. Fine textured feed with protein content of 45 – 50 percent are to suitable for fries while floating pelletized feed with protein content of 28 – 35 percent are suitable for larger and matured fingerlings.

A full-grown fish should attain an average live weight of 1.5kg at five to six month. The cost of feeding per kg varies according to quality.

Feeding can be deployed using two options; either the farmer goes for readymade feed from recognized company with good track record on their product or he goes for locally sourced materials and process it at feed mills.

Other Steps

STEP5 -Sorting: Sorting is done at this stage to curb cannibalism and ensure growth uniformity. Sorting can be done at 5 – 6 weeks, at this stage the farmer should be able to pick out the shooters among them. An extra pond is needed for this task.

STEP6 – Change Pond Water Occasionally: Pond water should be changed occasionally to fresh water, this can be done thrice in a week. The major reason why it is necessary to change the fish pond water is to encourage algae and plankton growth and to guard against ammonia buildup (this is for fish farmers who use earth and concrete pond method of fish cultivation) another reason is to ensure maximum and optimal growth.

STEP7 – Market Your Product: Marketing at this stage depends on the location and size of the fish. A matured fish that has attained expected weight will command a good price at the market.

Also, the kind of customer a fish farmer will sell his fish to, is a determining factor. Is the fish farmer targeting the consumer market? Is the fish farmer mainly producing for the retailers? These are questions that must be answered by the intending fish farmer.

Marketing Method #1

Fish farmers can decide to source from the market directly without involving the retailers for good profit.

This can be done by approaching a guest house, bars, hotels canteens, and even individuals, this method can be approached in two ways; either selling live fish to these potential customers or going further to process the fish – through smoking.

Marketing Method #2

This marketing can be done using the open smoking method, custom built ovens and kilns to remove moisture content. The fish farmer can then go ahead to package the processed fish in branded nylons. This method of marketing has been proven to yield more profit than selling live fish either to the retailer or to the end consumer.

Marketing Method #3

Another method of marketing your fish is exporting, this rakes in more profit than all other method, a packaged smoked fish can go as high as $10 – $15 on international market depending on the market fluctuation.

To use this method, fish farmers must first register with the Nigerian exporting council (NEPC), after that the product for export must pass through series of test to determine the moisture content and carbon deposits in the fish.

This is done in order to conform with the standard health and safety regulations of the destination of the fish farmer’s product.

If you need a complete business plan, please let us know. Or, you want us to help you set up this business, kindly contact us.

You would also want to check out these other business ideas 


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