Seafood farming in Nigeria is a very popular kind of business. You can start fish farming on a small scale for fulfilling your daily family demands or for earning some extra cash with your regular income. The demand for fish is increasing continuously. Keep reading as we guide you through how to make a proper business plan for fish farming in Nigeria.
How to start fish farming One of the most widespread agribusinesses in Nigeria is fish farming and for considerable reasons. 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. Fish farming in Nigeria has great potential, and you can also engage in large-scale commercial production. Fish production is a very dynamic type of business. Fish farming in Nigeria is a lucrative business that is popular in various parts of the country. There’s high demand for fish products, such as Tilapia, Catfish, and Mackerel (salmon) in Nigeria that continually stimulates sustainable growth and expansion of the industry.
There is so much information on the Internet about how to start fish farming in Nigeria, and we’ve tried to make this article as detailed and informative as possible to help you to build a fish farming business starting from the very beginning. Why should you choose to start a fish farm? Fish farming is a very profitable business to run. With correct planning and good management, you can easily get N4 million of pure income within half of a year.
Business plan for fish farming in Nigeria You can’t run a business without having a plan. A business plan is a necessary tool for creating a proper image of your future production. It helps to set goals and find ways to achieve them. You can create such a plan on your own or ask for expert’s help. Write down a complete description of what you want your business to be like. Set goals, consider all the issues you have to solve like how much you’ll pay for renting land and how much you’ll spend on building ponds and fish breeding, then compare this total to the amount you want to earn and think over how much fish you can breed and sell to achieve your goals.
So, what exactly do you have to include in your business plan?
1. Land Look for a plot of land that satisfies your needs and buy or rent it.
You need to hire an experienced pond construction engineer or you can also go to another fish farm to get specifications and design requirements. The plumbing work must be done correctly by an expert to ensure the correct construction.
3. Wells Good water supply is the lifeblood of fishing, and its absence can lead to disaster since water needs to be regularly changed. Naturally available water sources, such as borehole and river water, are the most suitable. Rainwater and tap water from a chemically treated source is not recommended for growing fish. Provide regular water exchange to create a friendly environment. You can install an aboveground tank, which will provide the convenience of supplying water to your ponds when necessary. Do not forget about the water filtration system.
4. Fish You can buy juvenile fishes on another farm. The most popular species are Salmon and Catfish. Make sure that the fishes you buy are healthy.
5. Knowledge You need to become attached to a fish farm for proper apprenticeship. For you to study this profession properly, you need at least two months to train on this. Visit other farms, surf the Internet to learn about the market, read about fish farming. Remember that your investments aren’t unlimited, so you have to know exactly what you are doing. Since the fish business gains more and more popularity in Nigeria, every businessperson tries to improve his product to make more money and sometimes the methods are harmful to the fish and people who eat it. We believe that a naturally grown healthy fish is the best product for market.