The fish farming system is the system in which fishes are grown for sale or for consumption. In other words, fish farming entails breeding different varieties of fishes such as Catfish, Tilapia and Mackerel (Tilapia) etc.
Fish Farming is a fast-growing as well as a lucrative business and is popular across every market and some strategic locations.
Gone are the days when the only means of getting fish is by catching it in the local rivers and ponds through trial and errors.
Fish farming requires progressive knowledge and skills. Hence the importance of training, self-development and consultation and management of fishes. Vaccination and medication; prevention, identification, and treatment.
Entrepreneurial and marketing aspects also require training. The Internet provides a variety of information about how to start Fish Farming.
This system of farming is one of the most popular agro-businesses in Nigeria, which is fish farming and for good reasons.
If you are an existing farmer and are looking to expand your farm capacity, I’d encourage you to invest in fish farming to boost your line of business.
Fish farming (especially catfish) is the most compatible with the poultry farming system in Nigeria, as you can use the poultry drops to facilitate the production of the feed for your fish.
The fish farming business is dynamic. It revolves around innovation on a daily basis. Fish farming is a lucrative business if you are determined and can employ the use of required modern equipment.
Aquaculture is an industry that is currently attracting investors due to its lucrative nature, fertile land for fish, high demands for fish and the low supply in the country. To make it in this business, it requires having the right knowledge and proper management skills. With these, high-profit margins are achievable and ensured in this business.
Fish a major component of both Nigeria and foreign dishes. This implies that the demand and the market for fish will increase and expand as fish is required for local consumption or for export purposes.
This is one of the reasons you need to take advantage of this opportunity(invest in fish farming) through local fish breeding and supply. you will not only boost this agricultural level in the country, but you will reduce the cost of fishes and create a job avenue. Thereby reducing the level of unemployment and poverty in the country.
Asides being a profitable business in Nigeria, Fish farming is a capital intensive. You can make a huge profit by going into fish farming or aquaculture business in Nigeria. This business can be run successfully and watch it grow and expand into multi-level business within a short time.
The following are reasons why you should be interested in Fish farming:
1. Fish is in high demand
Fishery products are by far the most popular animal products in the market, accounting for more than 60% of meat products in the Nigerian market.
2. Fish is a source of protein and other nutrients
Fish is one of the highest sources of protein. It is a low-fat high-quality protein that is filled with omega-3 fatty acids and vitamins such as D and B2 (riboflavin). Fish is also very rich in calcium and phosphorus and is equally a great source of minerals, such as iron, zinc, iodine, magnesium, and potassium for the body.
3. Fish sells fast
Fish sells faster and is relatively cheaper than other animal products in the market making it the first choice in respect to affordability.
4. Fish matures quickly
With the right steps and processes, fish grows rapidly. Fish grows very fast as practices in fish farming make it possible for farmers to increase the speed of their fish growth by giving them certain feeds, ensuring that you harvest and sell within a short period of time.
5. Fish Contains Omega-3
The surest supply of Omega-3 acid is in the proper consumption of fish. Fish is the biggest source of Omega-3 fatty acids which is extremely beneficial to a human heart; Omega-3 helps to keep our heart and brain very healthy. Since the human body does not produce Omega-3 fatty acids, the only source through which we can get it is by what we eat, that is where fish comes to the rescue.
6. Fish Farming is Profitable
Fish farming is very profitable. With proper planning and good management, N3 million investment in fish farming could easily result in N4 million of pure profit within six months.
There are, also certain risks involved in the fish farming business. They include:
1. Sensitive to Manage
Fish is very sensitive to manage and a slight mistake could result in degenerated growth of your fish or even death which may cause massive revenue loss.
2. Capital Intensive
Setting up a fish farm is capital intensive, much more than that of poultry and Setting up a fish farm requires more careful planning and much capital input. A relatively small fish farm may take up to N500,000 to setup, while bigger ones take millions of naira.
3. Fish is Priced High
Due to the cost of production, fish produced from the farm is priced higher than those caught from the rivers and ponds by fishermen.
4. There are no by-products
There are no by-products in fishery, unlike in the case of poultry where even the drop can be harvested and sold to other farmers and make extra profit. In fishery, all you get is the flesh.