How lucrative is fish farming in Nigeria?

Sometimes, I am tempted to say that most Nigerians have neglected an important sources of making money and have continued to chase shadows - with more reliance on oil revenue.

Yes, a higher number of Nigerians want to make it big, but do not know how or what to do. With the increasing level of unemployment - there is no white collar job anywhere, so waiting for a job is out of it.

At this time in life, no one that wants to make it in life continues to wait for opportunity to come to them. You have to go out there to invest in already existing opportunities or create one for yourself.

I want to also remind you that get rich schemes or opportunities are scam - there is no faster or easier way to make money even if there is it would likely be short term or illegal. You must be involved in something productive if you want to be successful.

If you have access to fund and have been in search of opportunities to invest in, I have good news for you— there is an opportunity for you in the agricultural sector.

Oh yes, this sector will change your financial state as long as you are determined and willing to invest your resources in it.

Agriculture contributes 40% of the Gross Domestic Product (GDP) and employs about 70% of the working population in Nigeria (CIA, 2012). Agriculture is also the largest economic activity in the rural area where almost 50% of the population lives.

At a time, people increasing lost interest in the agricultural sector as the youths who are the workforce keeps migrating to the urban regions in search of "greener pastures". This was either because of lack of incentives, government support, poor extension services and many other factors.

But interestingly today, people are beginning to trace their path back to agriculture. To this end what we refer to agri-entrepreneur.You do not even need support from government today as there are branches in agriculture that you can run as an entrepreneur.

In this article, we shall be introducing a very lucrative agri-entrepreneurial opportunity that you can run with as much as you can afford to invest.

That branch among others is FISH FARMING.

Introduction to fish farming

Fish farming or what we can see as pisciculture is all about the activities of raising fish for commercial purposes usually in a confinement - ponds. This is different from aquaculture which is concerned with all forms of aquatic animals such as ; fish, crustaceans, and so on.

Commercially, marketing fish is actually a great business—I mean who doesn't eat fish?

The task of fish farming might not be very simple but it pays off in the end–Everyone around you wants fish for one purpose or the other.

The commonly reared species of fish in Nigeria are catfish and tilapia.

As an entrepreneur, once you are able to conquer the tasks associated with fish farming, you are on your way to becoming a millionaire.

There is an increasing demand for fish, which have resulted to widespread of overfishing in wildfisheries.

With total fish imports amounting to about USD 1.2 billion and exports valued at USD 284 390 million in 2013, Nigeria is a net importer of fishery products. FAO.

Pros of fish farming

There are a lots of benefits hinging around fish farming. Aside from the general benefits of fish farming, as an agri-entrepreneur who is into fish farming, you are completely in charge of output and revenue as you decide when, how, and at what stage to sell.

You can imagine having up to 7–10 hotels and eatries that solely depend on you for supply– That keeps on a better chance of making real cash.

Let's take a look at the overriding benefits of fish farming;

1. Steady demand

You can imagine people staying without demanding for fish– That is absolutely impossible as both families, eatries, supermarkets, and hotels are in steady demand for this product. It makes even more lucrative for you as you decide the price you sell your products.

No matter the number of fish farmers, there can never be completion in the business. Instead the higher the demand, the higher the price–An average Nigerian can athest to price rise of fishes.

2. Their growth rate is fast

It is that easy and fast for fishes to grow.

From personal experience, I usually advice that you have your breeds of fishes in different sizes. So that as you sell of the adult ones, the other fishes will replace them. That way you will never run out of what to sale.

Fishes can grow in couple of months. All that is to it, is for them to be properly fed. When possible, they be giving growth enhancing feeds. There should also provision of a healthy environment for them to thrive.

3. The income generation is massive

With adequate care and management of fish, One trip to the market will generate money that will surprise you–who doesn't know the price of one carton of fish in the market. Maybe going to check out the price will convince you.

4. No adverse environmental effect

In as much there is adequate care and proper cleaning of the pond, it won't generate any adverse effect on the environment. The pond can be located anywhere in the environment– indoor or outdoor.

Closing thought

What matters in our society today is what can put money in your pocket. It's not how stylish the business is, it is how lucrative it is.

Does it expand your account?

If it doesn't, try fish farming.

Become an agri-entrepreneur, you will be glad you did. Starting a fish farm doesn't require the whole world. The size of the farm you intend to start determines the amount that you should budget for it. Fishes are equally delicate. Yes, if you must succeed in the business, you have got to give it all your time. It pays in the end.

As big as the business is, if you do not have a the time, employ people that will run your ponds for you.

Source:

• Lead image from Pixabay

• http://www.fao.org/fishery/facp/nga/en