Fish Farming in Nigeria: Step-by-Step guide on how to Start the Business

Fish Farming in Nigeria: Step-by-Step guide on how to Start the Business

Fish farming is the process of raising fish for personal use or commercial purposes in tanks or fish ponds. Fish farming in Nigeria (also known as fish cultivation) is a business that keeps growing year-in-year-out. Why is this? Simply because it is one of the most profitable farming business of all time. As a matter of fact, it is one of the great business opportunities to make millions in Naira.

There are various types of agribusiness to venture into in Nigeria but fish farming is one that can give you good return on investment.

Generally speaking, there are various information on the web whereby you can read up on fish farming but most of them will not give you enough information on the basic steps you need on how to start the business.



In this article you will learn………..

All you need to know about Fish Farming in Nigeria are:

  1. What is Fish Farming;
  2. What you need to know before starting (facts about fish farming);
  3. How to Start Fish Farming;
  4. Cost of starting fish farm in Nigeria;
  5. Benefits of fish farming;
  6. Most profitable types of fish to farm;
  7. Various fishes you can farm in Nigeria;
  8. Opportunities and Exportation of fish and how to go about it;
  9. Fish Farming Business plan and Feasibility study; and
  10. Risk and challenges associated to fish farming

Before we delving into the nitty-gritty of fish farming, let us briefly talk about the definition of the subject as our starting point.

Beauty of Aquaculture as a business

Although, aquaculture is generally referred to as the farming of fish and other aquatic organisms such as molluscs, algae, aquatic plants and few others. Our main focus for this article will be on fish farming.

1. What is Fish Farming?

 

Fish Farming, Fish Farming Business in Nigeria, Fish Farming in Nigeria

Fish Farming is defined as the raising of fish for personal use or commercial purpose (profit).

Risk and challenges associated to fish farming

As you may be aware, there is no business without its own risk. Yes, fish farming has its own risk and challenges. Below, I will shed more light into some of the risk associated to this type of farming in Nigeria.

2. What you need to know before starting (facts about fish Cultivation)

As an entrepreneur, I was able to discover that fish cultivation is a lucrative business in Nigeria; in addition, it does not need huge amount of capital to start. Meanwhile, the cultivation only need your attention few times a day.

In Nigeria, more than half of the population rely on fish as their main source of protein; in fact, fish consumption is rapidly increasing by the day with growing awareness of its great health benefits.

Due to over-fishing, over 68.9% of the world fish are depleted. This now pave war for people like me and you to step up our game to help meet the fish demand. As a matter of fact, this is a good time for any serious individual to start fish cultivating business.

In the long run, you can make a living out of the fish farming business in Nigeria; not only will you be able to put food on your table for your family, but also be able to turn the fish cultivation into a commercial business.

3. How to start Fish Farming?

Fish Cultivation, Fish Cultivation Business, Fish Farming

To many, starting fish cultivation business is a difficult task while others consider it to be a simple task. Up to the present time, we have seen many literature on this topic but none of them really say much on how to start the fish farming business.

Whatever type of fish farm you decide to start, just know that they all have basic similarities when it comes to starting them. The most significant difference is in the harvest period of these fishes.

Depending on the scale in which you are looking to start, this guide will take you through the basic steps needed in setting up your on aquaculture business.


Knowledge is key to your fish cultivation business

Like any other business, you need to gather basic knowledge of the business before running such business. It is not a coincidence that this principle goes for the fish farming business too. Generally, the different between success and failure in business is knowledge; you need to acquire the basic training in the business.

In the first place, you need to decide if you are interested in either:

  1. Your business will focus mainly that aspect unlit the fish grow to the juvenile stage; or
  2. You are focusing on that aspect of the business after the juvenile stage.

For the purpose of this article, we will concentrate more on the latter; that is to say, the aspect of the business after the juvenile stage.

Without further ado, let us dive in.

1. Initial Capital to start a fish farm:

How much does it cost to set up a fish farm? or what amount of capital is required of you?

The answer to this question will purely depend on the size of fish farm you are looking to start with. Nevertheless, here is the cost of starting a Catfish Business and also cost of starting a Tilapia Fish Business (the most popular and profitable types of fish farming business in Nigeria).

If you can take care of the initial set up cost, then, you should be ready to reap the benefits in this farming venture. In Nigeria, the government has made provision for loans and grants to farmers that may want to access the facility. For more information on the loan, you can talk to your bank manager.

Feeding

Get a good location

Water Supply

Feeding of the fish

Harvesting

Return on Investment

 

Conclusion

Among the various profitable farming business in Nigeria is the fish farming. To make it worthwhile, you will need to get all the necessary basic knowledge required to run the business; and explicitly, follow our step-by-step guide on how to start a fish farming business in Nigeria.

Remember, the secret to successful fish farming is to feed your fish well; at the same time, keep them in good environment.

%d bloggers like this: