As economy is going harder and harder on a daily basis in Nigeria and all other countries in the world, it is very ideal to adapt to business, the one that you can start without making intention about seeking for job. After thinking about all business, we found out fish farming to be the lucrative one to start in Nigeria for this year.
If you are interested to know how to start fish farming in Nigeria, here, we have provided one by one explanation to guide you from start to end. Fish farmers are very rich in Nigeria. In fact, a business that can compete with fish farming in terms of lucrativeness in Nigeria is filling station.
Are you looking for the kind of business which you should start in Nigeria to make money fast? Start fish farming!! Here, we will help you draw a business towards fish farming, for example, estimated amount of money to start with, how to market your fishes and make money and lots more.
Fish is a part of edible food which Nigerian must not fail to buy everyday. Every where I go, in an occasion, restaurant, hotel, compound, etc., I see people eating fish. Fish is filled with omega-3 fatty acids and vitamins such as D and B2 (riboflavin).
Fish is rich in calcium and phosphorus and a great source of minerals, such as iron, zinc, iodine, magnesium, and potassium. In fact, the Nigerian Heart Association recommends eating fish at least two times per week as part of a healthy diet.
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From the above benefits of fish and the rate of how Nigerians buy fish, if you start fish farming business, you won’t fail, in fact, if you follow the business strategies which we are going to show below, you can earn 300% interest of the money you start with.
How to start fish farming in Nigeria in 2022
- Intend and make a business plan.
- Get adequate training.
- Reserve/get a location for the pond.
- Think about the species you want to farm.
- Construct the pond and everything.
- Purchase a healthy feed.
- Buy small fishes.
- Register your business.
1. Intend and make a business plan
Everything starts with an intention. To start doing business, you have to make a strong business plan. If you can’t make it yourself, then hire or meet someone to lead you through.
Remember, anything that didn’t start with an intention and plan is likely can’t last long, hence, please remember to make a business plan against the commencement to your fish farming business. Determine the cost involved in establishing it and everything involved in it.
2. Get adequate training
If you have never done fish farming business, before you start it in order to make your professional, consider getting adequately from an experts. No where that one is going today that has never been gone by people, that is, anything you will do, people have done it before you.
Hence, be serious about getting yourself trained adequately with the right knowledge of fish farming including how to carry it out for yielding healthy marketable fishes which every body in a society demands.
3. Reserve/get a location for the pond
After gaining enough knowledge and idea of starting fish farming in Nigeria, another step to take is reserving or getting a land where you would construct your fish bond. If you are just starting out with a small scale business idea, one plot of land is very enough for you.
Get a good engineers to construct your pond and bore hole for you. Type and quality of water is concerns the training of healthy fishes. If you are thinking about the water to train your fish with, consider making water quality scientist involved.
Water quality is very important in fish farming as poor quality water can effect the health and growth of the fish. According to fish farmers, waters ranging in pH from 6.5 to 8.5 (at sunrise) are generally the most suitable for pond fish production. Most cultured fish will die in waters with pH below 4.5 and 10 or above. Fish reproduction and general performance can be greatly affected at pH below 6.5 and above 8.
4. Think about the species you want to farm
Another step to take as a person who is intending to start fish farming in Nigeria is identifying the species of fish you like. There are many different species of fish in the world but if you are intending to become a fish farmer, then top best fish species to choose from are:
- Shrimp and Prawns
5. Construct the pond and everything
Construct the pond, mini office, fence around your fish pond for making your fishes and your customers save, if possible, etc. According to the existing fish farmers in Nigeria, fish farming business is a business that is simple to do and lucrative.
They further said that for one to start a small scale fish farming business in Nigeria, he can use a minimum of 500, 000 Naira or 1 million Naira if intending to build or establish a standard one.
From this view, as minimum of 500, 000 Naira, you can construct fish pond, buy a lot of small fishes inside it and use the rest of the money for marketing and advertisement.
6. Purchase a healthy feed
To run fish farming business successfully in Nigeria and yield healthy quality fish, you have to feed the fish with good and nutritious supplementary fish feed fir them to grow faster in order to make them marketable.
You can also use some low cost conventional or unconventional animal by-products and plant residue in fish feed.
However, tare three main types of fish feeding and they are listed and explained below.
1. Natural fish feed: This is found naturally in the pond. This includes; detritus, bacteria, plankton, worms, insects, snails, aquatic plants, and fish (yes, fish eat fish if they`re hungry).
2. Supplementary fish feed: This usually includes cheap materials locally available such as terrestrial plants, kitchen wastes, or agricultural by-products. The supplementary feed may be good, but they are not for the serious fish farmers (except if he includes the other types of feeds). Many people who are into fish farming in Nigeria are using supplementary feeds. some to their profit, others to their loss.
3. Complete feed: This is a carefully made fish feed. They`re usually of good ingredients and nutrients, made by the experts who understand the perfect formula for the fish at a different stage.
7. Buy small fishes
Small fishes are also known as juveniles. In Nigeria, juveniles are bought exactly the way people buy small chicken for breeding. One important step to take if you’re just starting fish farming in Nigeria is to buy juveniles.
For now, the 8 weeks (two months) old Juvenile in Nigeria cost between Thirty Naira (N30) to Fifty Naira (N50) depending on locations. The best news is that you can order it online in Nigeria.
8. Register your business
Register your business with CAC as your business start growing to avoid it being getting suspended by CAC or other business union. In this regard, first of all, register with CAC, then with fish farming union in your vicinity, local government, state or at the national level.
Any business needs marketing and advertising for growth, hence, it is very important to make people know you are a fish farmer.
Start with a strong marketing strategy. You can even create a website and social media handles for it. Write a proposal report to different restaurants, hotels, supermarkets and every organization that you think they need fish.
Hope this article has helped you know how to start fish farming business in Nigeria for this 2022? Please share it with your friends and remember to subscribe to our newsletter or follow us on Facebook for more important updates.
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Reference: Fisheries Committee for the West Central (FCWC), Gulf of Guinea, web URL: www.fcwc-fish.org.