This is a detailed guide on how to start profitable fish farming in Nigeria.
If you have been seeking the right guides to build your fish farming business.
This is the right guide for you.
In this guide, I will show you how to place yourself at a great advantage in the fish farming business right from the start of your business.
Why should you consider Fish Farming?
Your active earnings will never be enough to cater for your financial needs.
Because your needs will continue to grow day by day.
To enjoy the life you aspire, you need to expand your source of income.
How then can you be financially free?
Leveraging on time and other people’s resources through entrepreneurship.
Entrepreneurship is easy and you can decide to go full time or add it to your existing job.
To achieve this, a lucrative business you can venture into is fish farming.
Fish farming is very popular in Nigeria.
If you are already a Farmer probably growing crops or rearing animals, you may want to increase your generated revenue through Fish Farming.
Also, if you are not a farmer, you can still venture into fish farming in addition to what you’ve been doing before to earn money.
You can even invest your capital in this business. Entrusting it to capable fish farmers.
What Is Fish Farming?
Fish Farming which is also referred to as pisciculture is basically the artificial cultivation and rearing of fish for commercial purposes.
Back in the old days, the only means of getting fishes for consumption is by catching them in local rivers and ponds by people we call fishermen.
But as everything has changed in this age, fishing is not left out and now we have modern farm practices that have enabled us to grow fishes on farms and take charge of how and when we put them to market for sale.
Starting your fish farm like the cultivation of crops does not necessarily need legal requirements to begin.
You can build your own pond in your compound if you have some spaces left.
You only need to make sure you have a good source of water that will sustain the growth of the fishes.
Although, if you are starting on a large scale, you would be needing more than just ordinary to establish yourself.
But either way fish farming remains fantastic.
STEPS TO TAKE IN STARTING YOUR FISH FARM
Succeeding in your fish farming business in Nigeria requires you to take the right steps. Below are some of the steps to start a fish farming business in Nigeria.
1. MAKE A BUSINESS PLAN AND REGISTER YOUR BUSINESS
Every successful business must have documentation of goals and objectives as to project what to achieve.
So before you rush out to start your fish farm, it is advisable to put a pen to pepper and plan out what you wish to achieve.
Also, you can get your business registered to become a certified business owner in the country.
To register your business in Nigeria, follow our step-by-step guide on how to register a business with CAC in Nigeria.
Although you can start without registration you will not be certified and may not enjoy the benefits registered businesses enjoy.
But your business can still thrive.
2. GET KNOWLEDGE
Knowledge means knowing.
And you can’t be wiser than what you don’t know.
Fish Farming will require you to find a mentor. Someone who is already in the business will easily communicate ideas to you and help you scale through easily with little hitches and possible way-outs to surfacing challenges.
Trial and error is not the best way forward and a few days seminar might not be enough to put you through.
Having proper training is very vital.
You can also take some practical courses from tested training centers or take online lessons via the internet.
3. GET A LOCATION
Where do you want to locate your fishing site?
You can buy or rent a piece of land. You can also create some space in your compound.
How large your business plan is, determines how much space you will need.
Just make sure to get a spacious environment for your pond.
4. CHOOSE THE RIGHT FISH POND
Fish ponds can have a rectangular or circular shape. And the sizes vary depending on how large you want to go.
Fish ponds are of different kinds.
We have Earthen pond which is dug in the ground. The earthen pond is also called natural pond.
When this pond is dug, clay is left underneath the water, making the environment seem like that of the natural rivers.
The second type I’ll mention is concrete Fish Pond, which is made of concrete blocks, and cement.
Building a concrete fish pond requires the service of a professional construction engineer.
A concrete fish pond is popular in urban areas. It can be built either below earth’s surface or above it.
Specialized professionals will handle the building better.
We also have Cage Tank Fish Pond, Plastic Tank Fish Pond, Fibreglass Tank Fish Pond.
All these tanks fish ponds involve the breeding of fish in their various materials.
5. GET A WATER SOURCE
Just like air is vital to humans. And foul air is disastrous to health, A good water system is a non-negotiable requirement to start fish farming.
The most suitable water for your fishes is one without chemicals.
To grow healthy fishes, you need natural and freshwater. You can create a borehole with an overhead tank as a reservoir for this.
Rainwater is not recommended for the fish farming business too.
Also See: Top 11 Investment Opportunities in Nigeria
6. DECIDE ON YOUR SPECIES AND GET JUVENILE FISH
The next step is to get juvenile fish from suppliers that specialize in supplying it.
Know that there are many kinds of fish Farming you can start.
The most common list includes Fish Hatchery, Tilapia Fish Farming, and Cat Fish Farming.
Your fish-farming dreams can be achieved with arguably any of the above.
Fish Hatchery is the process of hatching, breeding, and growing fishes throughout their different stages of life cycles.
Fish Hatchery is done by collecting eggs from injected broodstock.
After which these eggs will be hatched into larvae, which then grow into fry, before growing into fingerlings.
Tilapia Fish Farming is self-explanatory as being the rearing of Tilapia Fish.
Tilapia is one of the common types of fish cultivated in Nigeria.
It is a warm-water fish, and it grows rapidly when compared to other fishes.
Cat Fish Farming like Tilapia Fish Farming also involves the rearing of catfish.
Catfish is the most popular fish among fish farmers in Nigeria.
It can be reared either on a small scale if you are not so financially buoyant, and on a large scale of you have the cash to make it big from the start.
7. CHOOSE THE RIGHT FISH FEEDS
Animals (human inclusive) feed on organic materials such as plants, other animals, or prepared food that prepared with either plants or animals, or both.
And the Quality and Quantity of our food intake determine our well-being.
This is the same reason why you need to feed your fishes and feed them well.
You get to purchase complete feeds that have been carefully made with good ingredients and nutrients by experts.
Feeds exist for different stages of fishes.
8. MARKET
You definitely wouldn’t have many difficulties in turning your grown fishes into money.
The demand for fish is so high and the market opportunity is huge.
You can market your fishes online or even create awareness a few weeks to their full maturity.
Fast foods vendors, restaurants, bars, hotels, market women, and frozen food sellers are all your market.
Market your fish to them and huge sales will follow.
That is all on how to start a profitable fish farming business in Nigeria.
Do you need finance for your business, learn how to get instant loan without collateral in Nigeria.
Hope this was helpful?