How to setup a fish farming business in Nigeria | infoguideforyou

How to setup a fish farming business in Nigeria

Everyone has its own principles on how to setup a fish farming business in Nigeria. Fish farming is a hot trends and lucrative business one can consider starting either for commercial purposes or for family consumptions right here in Nigeria.

But in this post am going to teach you everything about fish farming from A-Z,

But before i commence, don't you think is imperative to first have a clear understanding of what the term,"fish farming". Is all about.

Fish farming in nigeria

Fish farming, also known as pisciculture, or aquaculture is the cultivation of fish for commercial purposes in man made tanks/pond and other enclosures. Or you can simply say that it is the breeding, rearing and transplantation of fish by artificial means.
While fish naturally lives inside rivers, pisciculture is the means by which we grow fish at home, mostly for commercial purposes. according to africabusinessclassroom.
What i loves about africabusinessclassroom(ABC) is that they offers free fish practical training and have more than 20 associate's fish farms in different states of Nigeria and gives you the opportunity to visit and learn fish farming, practically on the farm. Click here to take you to the free practical training on fish farming.

How do i start a fish farming business?

How to setup fish farming business in Nigeria

To start a fish farming business, you need to apply the following methods.

1. Insight knowledge

Getting an insight knowledge of the business you want to venture into should probably be the first and the most important weapons you ever needed if you are to have a chance of succeeding. Attend seminar if possible so as to learn more about it's rudiments and understand every aspect of this aquacultural business.

2. Location

Getting a good location for your fish farming business should be your number 1 priority if you are to have a chance of succeeding in these lucrative business.

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3. Land

You need to consider the size of the land you intend to use to grow your aquaculture business. Normally a plot of land or two is okay to setup a fish farming business. But In a situation where you don't have a land space or don't have money to buy land. You can start out in your backyard then once you start getting some money, you can then migrate to, or acquire a land to look more professional.

4. Fish pond

You need to decide the of fish pond you needed. For a levee type pond, a flat area that has access to a well could be used. Whereas for a watershed pond, steeper areas near a natural source of water are to be used. It's advisable to first have a conversation with an aquacultural consultant. Because they will have to first examine your targets, determine your needs and ensure the construction work and general requirements of the fish ponds are properly met.

5. Stable water supply and storage system

Getting a stable water supply is also an important factor when setting up a fish farming business. Remember fish can't leave without water just like we humans. Without water you're affecting it's growth and productivity and also make sure to have a good storage system for all your fishery.

Types of fish farming business in Nigeria

There are many types of farmed fish, but the most common are catfish, tilapia, salmon and tuna.

1. Catfish
How to setup a fish farming business in nigeria

Catfish are an extremely diverse group of ray finned fish that get their name "barbels" from their feline looking whiskers, that act as a defense mechanism, that is, They have no scales. Some lives in stagnant water, while some lives in rivers and streams with fast moving currents. Some species of catfish are nocturnal, while some are diurnal.

2. Tilapia
How to setup a fish farming business in nigeria

Tilapia is a popular fish for aquaculture, because it is very adaptable and versatile, flavored, lean fish. They can survive even in the mix of poor quality water or overcrowded condition. Tilapia is easy to cultivate and it's popular in Nigerian market.

3. Salmon
How to setup a fish farming business in nigeria

It comes from the Latin word 'salmo' which means to leap, originated from 'salire'. They have the ability and strength to jump up to two metres when the smell danger.
They are also an anadromous, because they hatch in fresh water, to the ocean, and then make a return to fresh water in other to reproduce.

4. Tuna

how to setup a fish farming business in nigeria
Tuna also known as tunny, is a saltwater fish and is very important in the commercial fish farming business. It belongs to the tribe 'thunnini' a subgrouping of the 'scombridae' known worldwide as mackerel.

How much does it cost to start a fish farm

They key factors to consider are cost of pond, blocks, cement, sand, gravel, labour, plumbing, borehole, treatment, fingerling and feeding.

1. Let's assume that each pond is 3m ×2.5m by 1.4m. 210 of blocks and 30 bag of cement for each blocks are consumed.
That is, 210 blocks ×10 needed  = 2100 blocks
Now 2100 blocks / 30 bags of cement = 70 bags of cement.
2000 which is the cost of cement × 70 bags = N140,000

2. 4 trips of sand are being used, and each trips of sand cost 7000. 7000 × 4 trips = N28,000

3. 2 trips of gravel are to be used and each cost 32000. So 32000 × 2 trips of gravel = N64,000

4. N150,000 cost of labour and N100,000 for plumbing.

5. N50,000 for treatment

6. 30 Fingerlings are to be used and each cost 10000. 10000 × 30 Fingerlings = N300,000

7. N1,000,000 cost of feeding starting from day 1 till maturity age. That is 200 bags of foreign feed.

8. After maturity, 1.7kg becomes the average weight of fish. And each fish was sold at N800 each.

9. 9800 fishes are being sold at N800. That is 9800 × 800 = N7,840,000 million gain.

10. Now the total amount of money spent on fisheries from day 1 till maturity age(6 months) = N3,250,000 million.
And total amount gain is N7,840,000 - N3,250,000 money spent = 4,590,000 million profit in 6 months.

Profitability of catfish farming in nigeria

Yes, fish farming or aquaculture is a profitable business that can yield you profit between 6-7 month.
 but before we do the mathematics(practical example), let me first enlighten you that the most profitable fisheries here in Nigeria is catfish and tilapia.

1. Catfish is one of the most, if not the best profitable fishery in nigeria because they are very easy to farm even in warmer climates. It can be raised both in your backyard and ponds. It was populous, all thanks to its health benefits and high market demand

2. Tilapia fish farming is very very profitable because it's high in proteins, it's growth rate and requires warmer water to survive. The idea water temperature is usually between 28-30 degrees centigrade. it's unlike other fishes eat up its fellow fishes because it can feed itself with cereal based diet.

Benefits of fish farming business

1. More than 1 billion people relies on fish as their primary source of protein and it is advisable to eat fish for at least twice a week. it is also a low in saturated fats and rich in omega 3 fatty acids which helps to keep our brain and heart healthy according to health authorities worldwide including the USDA's Dietary Guidelines for Americans

2. It is rich in vitamins (D and B2), calcium and phosphorus.

3. It's a great source of minerals such as iron, magnesium, iodine, zinc and potassium.

4. It supplies food and jobs, because fish farmers earn more money more than any other food commodities, which simply means, there are more job position to be fill thereby creating job vacancy.

How can we make fish farming sustainable

Fish farming can be sustainable in following ways.

1. By using cultural practices to control disease rather than antibiotics - by reducing stocking rates for example.

2. By raising herbivorous species which requires fewer inputs of high protein fish food to produce a pound of fish than carnivorous species. Examples of herbivorous species are catfish, tilapia and carp why carnivorous species are salmon and trout.

3. By recirculating aquacultural systems where water are being reused, why plant and microbes are being employed for the removal of waste products, being known as aquaponics.

Hope you truly understood what fish farming business in Nigeria is all about, both its types, benefits and ways to sustain the aquacultural farming. So what are you waiting for rush now and grab this wonderful opportunity. Thanks and good luck.