Platinum Times writes about Fish Farming business in Nigeria: Advantages, Requirements and Challenges in this article.
Fish farming is without a doubt a very lucrative business that Nigerians should seriously consider because it has numerous benefits.
It is unquestionably a development for Nigeria’s aquaculture-heavy agriculture industry. In that it is a little above them, it also has an edge over the nation’s agricultural problems.
The significance of fish and fish farming is something that so many people are interested in learning about!
The next time someone asks you to list the four advantages of fish farming or when you need to find a pdf on the issue, you won’t have any trouble answering. We’ll talk about all of these now!
First off, prior to the creation of ponds and frozen fish, we used to catch and prepare the fish items that we now purchase from the market.
In general, aquaculture has significant economic advantages. The economic importance of fish cannot be disregarded. Fish are frequently seen as a magnificent gift from nature to man because they may be used as a food source, a source of revenue, and more.
Advantages of running a Fish Farming business in Nigeria
There are several benefits to this inventive idea, some of which are stated below.
1. Provision of food
One of the key benefits of fish is the provision of food. You must make sure that everyone has enough food for himself because if the nation’s food supply were to be cut off, it would wither away. Agriculture is the sole activity that may be used to achieve this goal, either directly or indirectly.
Fish contains a lot of amazing and unique nutrients, like vitamin D, Protein, omega-3 fatty acids, and many others. It is a great meat substitute, especially in locations with a shortage of money, thus its significance for a balanced diet cannot be understated.
It is also a terrific selection because many people concur that they prefer fish to mutton, hog, and beef.
The government and other organizations must offer loans that will help more people enter this long-overlooked business for the overall benefit of the nation’s earnings.
2. Source of income
Even though one of Africa’s main problems is unemployment, there are plenty of options for us.
Fish farming has helped a lot of families support themselves financially and provide jobs for others.
One should have made at least N4,000,000 after investing N1,000,000 appropriately into a fish farming business for six months. To make sure you get the most out of the business, you must be very knowledgeable about it before starting.
3. Stable supply and demand
Now, thanks to fish farmers and fish farming, you can get the fish of your choice whenever you want. You no longer need to travel far to buy catfish when someone local owns the farm. It is a favorite with shoppers.
Because it is often less expensive than most meat, fish is consumed by more people than meat. Its attractiveness is increased by the fact that fish is now an obligatory part of the meals at schools and boarding places.
4. Fish Popularity
Fishery goods dominate the market by a wide margin; they make up more than 75% of the meat products sold in Nigeria.
Fish is the best option when it comes to popularity because it sells more quickly than any other animal products on the market and is generally less expensive than meats.
5. Long-term trend of growth
Like with other domesticated animals, you can hasten the growth of your fish by giving them the right diet. This suggests that they will be simple to locate when necessary and that they will also boost your income.
6. There is no environmental risk
A fish pond can be installed anywhere without causing further environmental pollution, in contrast to factories and other types of enterprises, which are commonplace. This is yet another outstanding advantage.
7. Easy addition to the existing farming activities
You may have a cooperative farm business where the fish are funded by the sales of your other products. This often reduces farm running expenses and makes life easier for farmers.
8. Easy to follow
If you have experience in the field, you would be aware of how easy it is to maintain them. Feeding them doesn’t cost much, but you need to make wise decisions to make sure they get the right amount to eat.
Fish Breeds You Can Farm
Having explored the advantages, let’s move on to choosing the species of fish we wish to raise. The most popular fish species that are suited for aquaculture are listed below.
2. Tilapia: A kind of fish that dwells in fresh shallow water, tilapia is the second most popular fish in Nigeria’s aquaculture business. Tilapia grows quickly and is quite popular in Nigerian markets. It is also very simple to grow.
2. Catfish; Though not the most popular fish in Nigeria, catfish is by far the most widely cultivated species there. The fact that catfish is one of the simpler fish species to raise is a plus. People will therefore naturally gravitate in the direction of the fish species they find to be the simplest to raise.
3. Mackerel: It is sad that this fish ‘Titus’ as it is Popularly called, is not farmed despite being by far the most popular in the Nigerian market. Despite the fact that all mackerel fish are “wild caught,” some Nigerian farmers are exploring the idea of producing artificially salted water that would be comparable to the seawater required for mackerel to live. Can this species of fish from the deep blue sea be artificially cultivated? Only time will tell, so for the time being, concentrate on catfish and tilapia.
What Is Required To Begin Fish Farming?
1. Get a site
Fish don’t harm the ecosystem, thus any site is suitable. Find land that you can purchase for a reasonable price. A half-plot of land is sufficient for an ordinary fish farm, depending on the capacity you wish to run at.
If you can afford it, you might choose a larger option—perhaps a full plot or two—most likely for convenience’s sake. You may use any extra space in your complex that you believe can house two or three ponds.
2. Dig a Borehole
The lifeblood of a fish farm is an adequate water supply, and its absence could spell tragedy because the water needs to be changed on a regular basis. The best sources of water are those that are naturally accessible, such borehole and river water. It is not advisable to grow fish using rainwater or tap water from sources that have undergone chemical treatment.
3. Create ponds
To obtain the specifications and construction requirements, you must either use the services of a professional pond construction engineer or visit another fish farm. To ensure proper drainage, the plumbing work must be correctly completed.
4. Construct an overhead tank
Your ponds receive their water from this water reservoir. To make it simple for water to flow into your ponds when needed, this tank must be connected to them using a plumbing system.
5. Purchase fingerlings
Purchase your juvenile from a farm that focuses on providing it. You must choose a catfish or tilapia species with a good production and ensure that it comes from a stable farm.
Challenges and Risks of Fish Farming
1. Sensitive to Manage
Fish are extremely delicate to manage, and even a small error could lead them to stop growing or even die, which could result in a significant loss of money.
2. Intensive on Capital
Much more capital is required to establish a fish farm than a chicken or snail farm. Setting up a fish farm takes extensive planning and financial investment. Setting up a very small fish farm can cost as little as N500,000, while larger ones might cost millions.
3. Fish is Expensive
The expense of production makes farm-produced fish more expensive than fish that fisherman catch from ponds and rivers. Therefore, if there is a large supply of fish from fishermen in the market, you can have trouble selling it because customers will rather buy the less expensive varieties.
Conclusion
Fish farming is without a doubt one of the most profitable industries in Nigeria. By creating a thorough business plan and adhering to it, you must get it properly. You must use effective management techniques and adhere to the required standards. If you follow these guidelines, your fish farming business will be profitable.