- Fish farming is a lucrative business in Nigeria due to high demand
- Key steps: planning, set-up, fish care, harvesting, and marketing
- Success factors: financing, location, species choice, sales channels
Fish farming business in Nigeria is the breeding and rearing of fish for commercial purposes in fish ponds and is one of the most popular and lucrative businesses in agriculture. This is because fish is eaten by millions of Nigerians on a daily basis. Fish is rich in protein, in high demand, matures quickly and sells out fast in Nigeria. How can you start a fish farming business in Nigeria? Here is how.
How to start a Fish Farming business in Nigeria
Start a Fish Farming business following these steps
1. Write a business plan
A business without direction is doomed to fail from the very beginning. Write a business plan to ensure that you know exactly what you need to start your fish farming business, the operating costs and the profit to be realized. This is crucial to the success of your fish farming business in Nigeria.
2. Get capital
The fish farming business in Nigeria is capital-intensive. You need millions of naira to start a fish farm in Nigeria, especially if you are starting on a large scale, and you want to realize a lot of profit quickly. You can raise capital through loans or savings of your own. Your capital is the lifeline for your fish farming business in Nigeria.
3. Acquire farmland
Farmland is extremely important for a fish farming business in Nigeria. The farmland you buy or lease must be conducive to fish farming. Your farmland must not be home to reptiles and wild animals which can harm your fish. Make sure transactions regarding farmland purchase or lease are well documented by your lawyer. This is to avoid fights, court cases or disagreements in the future which can potentially harm your fish farming business. Hiring a lawyer might seem like an extra cost but it is very important.
4. Construct fish ponds
The next step in your fish farming business should be to construct fish ponds which will serve as housing for your fish. Your choice to start your fish farming business on a small scale or a large scale determines the type of fish pond you will choose.
There are different types of fish ponds such as;
- Concrete fish pond – This is a type of fish pond that is made using concrete (blocks and cement), and is connected to a water supply such as a borehole. A concrete fish pond is a walled enclosure for fish to breed in.
- Earthen fish pond – This is a type of fish pond that is constructed by digging a hole in the ground. Then, water is supplied from a water source such as an overhead tank to the earthen fish pond for the fish to breed in. An earthen fish pond is usually round or square in shape.
- Plastic tank fish ponds – This is a type of fish pond that makes use of plastic tanks to breed fish. This is cheaper and preferable if you are starting your fish farming business on a smaller scale.
5. Provide a constant source of water
Fishes need clean water constantly to survive. Fishes cannot survive in chemically treated water. They can only grow and mature properly in clean, fresh water. To ensure that your fishes do not die, make sure there is a constant supply of water on your fish farm. You can get water supply from water sources such as a;
- Well
- Borehole
- Tanks
The source of water you choose depends on the size of your fish farm.
6. Choose the type of fish which you will breed on your farm
The next thing to do is to choose the type of fish you will breed on your fish farm. The most popular fishes bought in Nigeria are;
- Catfish- Catfish is the easiest fish to breed and also one of the most popular fishes eaten in Nigeria. It is commonly eaten in homes, restaurants and bars in Nigeria, hence its popularity among fish farmers in Nigeria.
- Tilapia – Tilapia fish is widely eaten in Nigerian homes and canteens, and therefore popular in the Nigerian market. The great thing about rearing tilapia fish is that it is easy to cultivate and grows very fast.
Therefore, catfish and tilapia are the only fish types you should breed, because there are many customers willing to buy these types of fishes on a daily basis in the Nigerian market. For that reason, you will have to buy fingerlings of these types of fish. Fingerlings are baby fishes which you can breed on your fish farm and they will mature into fishes that you can sell to customers.
7. Feed your fish
For your fish to grow properly from the fingerling stage to maturity, you have to take care of them properly. Fishes have to be fed properly with good fish feed to survive. There are two major types of fish feed which are;
- Natural fish feed – This type of fish feed is found physically in the fish pond. This feed includes plankton, worms, insects, and aquatic plants.
- Complete feed – This is a type of fish feed specially prepared by experts in fish feed. This feed typically contains essential nutrients that fish need. This is the best type of fish feed.
8. Harvest your fish
When your fingerlings are fully grown, it is time to harvest them for sale. You can make use of fish nets to harvest your fish from the fish ponds whether earthen fish ponds, concrete fish ponds or plastic tank fish ponds. Store your fish properly in a cold room before the sale.
9. Market and sell your fish to potential customers
Make sure you market your fish to potential customers even before harvesting. This makes it easier to sell all of your fish and make a lot of profit. There are many customers who will buy your fish such as;
- Market women
- Canteens
- Restaurants
- Hotels
- Caterers
Make sure you store your fish properly after harvesting. Also, hire or buy transport trucks that will deliver sold fish to their buyers. The demand for Fish in Nigeria is high.
If you are looking for a business in Nigeria that has a steady stream of customers and surety of a lot of profit being made, the fish farming business in Nigeria is the best option for you. You can check other business opportunities here.