Fish farming is one of the lucrative agribusinesses to venture into in Nigeria.
It doesn’t require much money to invest in it, these days fishes are now very easy to rear because there are ways which you could build your fish pond without spending much.
Fish farming is the process of rearing fish for subsistence use or commercial use, that is, you might go into fish farming for consumption only and if you consider fish farming to generating profits, you can simply go into it for commercial purposes.
There are some benefits of going into the fish farming business in Nigeria which are:
i. Fish is consumed globally: Fish is considered to be one of the most consumable meats in the world. About 3.3 billion people consumed fish meat globally as at 2017 statistics.
Since 3.3billion people consume fish, when you venture into the fish farming business, you will make money.
ii. Fish is nutritious: It’s been proven by scientists that Omega-3s which is fish oil(fatty acid) is very nutritious to our health.
Omega-3s improve the eye effect, that’s it, it helps the eyes from any risk of damage, medical experts already recommend fish with this you can make profit cause there’s a ready market for it.
iii. No environmental hazard: A fish farm is very easy to maintain and it can be located in any area because it does not cause any form of smell or bad odor in a residential area, so you can start fish farming in any given location of your choice.
iv. Fish farming is profitable: Fish farming is very profitable when you learn the fundamentals and you also sketch out a good business plan, with this you can invest 1million naira and it could generate you a profit of 500,000naira to 1million naira within months.
v. Fish growths are rapid: Fish farming doesn’t take much time before it yields profit. Within 4months to 5months of your investment you can sell them out and you make your money, unlike poultry farming that takes time.
Types of fish you can rear easily
Catfish is a very popular fish species in Nigeria. It is very easy to rear because you don’t need complicated items to rear them.
A good pond made with concrete or a container with fresh water is okay to start catfish farming.
It is a common name for species of fishes in Africa belonging to the family of Cichlidae.
Tilapia fish is one of the most consumed fish in Nigeria. It lives in fresh shallow water, it’s also very easy to rear.
It reproduces rapidly in such a way that it can yield profits in a short period of time.
You don’t need to be bothered in terms of marketing, it has a large market space in Nigeria.
What are the things you need to put in place to get started?
There are some crucial things you need to consider when setting up your fish farming business.
i. Proper training
Having proper training on fish farming is very important because it would give you some insight into how fish agribusiness works.
Though setting up a business comes with a lot of risks but with proper training, there is a high probability of it yielding profits.
You can learn through Google or Youtube freely to get more insight about fish farming or you pay a personal trainer, someone who knows how the fish farming business works.
ii. Proper planning
This is very important in setting up a fish farming business, you need proper planning, that is, create a business plan on how you can successfully run the business.
A proper business plan guarantees that you’re going to make profits when you venture into the business.
iii. Select a location
Setting up a fish farm, you need a location to set it up, either you buy land, lease land or you rent a place for it.
When selecting a location, make sure the environment is okay during the rainy season so you don’t lose your fishes to flood.
iv. Build your pond
There are several ways to build a good pond, you can build a pond with concrete or simply with a container.
v. Water flow
The next step is to construct a water flow by digging a borehole or a well, you can also store rainwater in a reservoir.
vi. Add your fish
You simply need to buy your juvenile fish for you to start rearing them, you can get juvenile fish from dealers that sell them in bulk so that you would be buying it at a cheaper rate.
Getting your feed for the fish is another important aspect to look into when starting a fish farming business.
You need to sort out good feeds for your fishes for them to be healthy and grow rapidly.
Marketing is the last thing on these lists, marketing is very important because you need to sell your fish for you to make profits and when you don’t get a buyer for your fish that can result in loss.
You can connect yourself to potential buyers through some Facebook groups that deal with agriculture.
Now I will like to hear from you!
Which type of fish would you look into when setting up your fish farm?
Let me know in the comment section and also share this post on social media.
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