Requirements And Cost Of Starting A Fish Farming Business In Nigeria

Do you know that the demand for fish is very high? And 60% of Nigerians loves eating fish. Fish farming in Nigeria is very lucrative and also rising rapidly here in Nigeria. If you can go to markets, hotels, restaurants & bars, You will get to know that the product is very high in demand. The major types of fish farming are catfish and tilapia.
Starting A Profitable Fish Farming In Nigeria
Here are the six basic requirements needed for fish farming business in Nigeria:
(1) Proper Training: Fish farming requires adequate training, and is not a business one can just start like that, because it’s risk are high. So you need to be trained to be cautious and know about the pros and Con’s of fish farming.
(2) Buying Land: Acquire land that will fit in the necessary constructions, both the drainage, fish pond and boreholes.
(3) Construction Of Fish Ponds: The construction of the fish pond should be properly built. Contact an experienced engineer for the construction, He should ensure proper drainage.
(4) Borehole Installation: Fish needs constant water supply for survival, And borehole installation is very important in any fish farm.
(5) Choice Of Fish: There are salmon’s, tilapia and catfish, Is now left for you to be very selective on your choice of fish. Ensure to buy healthy fingerlings from a rightful source.
(6) Feeding Requirement: Feed your fish adequately, and you should know their feeding routine. Once the weigh good, you can now harvest them and sell them off. Don’t forget to visit hotels, markets, restaurants & bars and notify them about your product.
Cost Of Starting A Fish Farm In Nigeria
How much does it cost to start up a fish farm? What are the capital needed to start a fish farming business in Nigeria? Here are the estimated cost we just gathered:
1. Cost Of Land: The cost of land for fish farm is between N300,000 to N3 million.
2. Cost Of Fish: One fish should cost about N550 to N700. 100 fishes should cost about = N55,000.
3. Construction Cost: The cost of construction is estimated to be N1.7 million.
4. Equipments And Boreholes Installation: The cost of borehole installation should be roughly N550,000 And the equipments cost should be N350,000.
With N5,750,000 you can start a medium scale fish farming in Nigeria. And above are the requirements and cost of starting a fish farm.
Note: It is also advisable to meet any experienced fish farmer to give you more guide.