How to Start Catfish Farming Business in Nigeria
Do you know that with the sum of just five hundred thousand nairas, N500,000, you can secure high breed fingerlings and be on your way to making millions from this business? There is no doubt that catfish farming is one of the most profitable farming ventures in Nigeria. This you will soon find out in this article.
One set of Catfish feed, for example, can farm about 1500 fishes successfully. With this, the farmer can generate a net profit of nothing less than N1,125,000 within just six (6) months. These are no assumptions, but tales from experience
Read Also: A Guest House Business Plan and Design
If that sound lucrative to you, then you need to understand what venturing into this trade entails. The reason is simple and self-explanatory. Without a sound knowledge of what fish farming entails, you could meet a colossal loss. Imagine losing such a huge investment in time and other productive resources. Does it worth it? I guess in the negative.
Do not be discouraged, anyway, as this article will expose to you all that you should know about Catfish Farming Business in Nigeria. With this, you should be on your way to effective and efficient catfish farming.
Five (5) Reasons Why You Should Start Catfish Farming Business In Nigeria Today
(1) Fish is a very stable, if not one of the highest sources of proteins. Also, Omega-3 and other essential minerals like calcium are also sourced from fish. hence, making the product one of ever-increasing demand.
(2) The fish market is broad and highly unsaturated. The quest for fish exceeds by far, its supply. as such, the fish market keeps widening, large enough to accept new entrants.
(3) Additionally, fish is used to prepare a majority of our delicacies. especially local dishes and as such is of high demand in homes. bar owners and hotels as well make use of catfish.
(4) Also, you can start Catfish farming business with a small amount of money. This comes with much assurance of generating huge profits. On the other hand, the size of your capital input would determine your profit margin.
(5) Regarding Catfish farming business, it is very lucrative. Of course, you can easily recoup your investment and generate bumper profits. This can happen over a very short timeframe if you effectively manage your farm.
With this background information, you should start catfish farming business Nigeria. let us now consider the requirements needed to kickstart your catfish farming business.
Basic Tips on Effective Catfish Farming in Nigeria
Engage In Proper Market Research And Effective Planning
The first thing you need to consider prior to starting any business, such as catfish business or whatever kind of business it is, is to properly research the existing market so as to uncover the level of viability and sustainability of the venture. This will help you to ascertain who your competitors are.
It will equally help you to know the prices of materials which you will need to setup and follow through with the business.
Also, it will help you to prepare a workable and realistic business plan having real and correct revenue projections and cost estimates.
You would need this in making your catfish business a success.
Do Proper Personal Research And Get Trained
Do not simply jump into this business just because you have read or heard of its profitability from people, or from me in this article. Relax! It goes beyond that! it is important that you do a thorough research to ascertain what the business all about, read well educating books and online articles such as this.
That is not all. You should undergo an apprenticeship period first in which you will attach yourself to an already existing catfish farm and get trained for a minimum of one month prior to starting your own catfish farming business.
This really helps to learn the basics and thereby avoid wasting your time, capital and other investments.
Secure Space Or Land
The next thing to do if starting catfish farming business is your intention is to acquire space or land. You can get a full plot, half plot, or even more depending on how you intend to scale your operations and the type of pond you wish to use too.
For a start, especially for those with little capital, you could make use of a space in your backyard to start small-scale fish farming. As such, lack of finance to acquire large plots of land should not stop you from starting your fish farm.
Build Fish Ponds
After you might have secured a space or land, it is now time to build/setup your pond.
There are different kinds of fish ponds like a concrete pond, plastic pond, earthen pond, etc. each of these kinds of ponds has their own merits and demerits.
For example, it is cheaper and more convenient to construct plastic ponds which can accommodate small scale catfish production. However, concrete ponds last longer and are a better choice if you have intentions of remaining in the business for a longer timeframe.
With earthen ponds, however, the fishes grow faster, as they feel they are still in their natural habitats.
The type of pond you opt for notwithstanding, I advise that you pay a visit to nearby fish farms have a first-hand experience of how each look and works. Also, hire good engineers to assist you to setup the ponds especially if you are constructing a concrete pond. You may do it by yourself anyway if you have the technical know-how
Make Sure There Is Regular Water Supply
Having setup your fish pond, the fifth thing to do is to make sure there is a steady supply of water for your fishes.
It is advisable that you sink a borehole and erect overhead tanks to store up water, thereby guarding against scarcity of water. Alternatively, you could get water supply from a well or a nearby stream in as much as you are confident that the water is clean enough and would constantly be supplied to the fish pond(s).
Additionally, ensure that you periodically replace the pond water after every two days. Remember, unlike river or stream that flows, the pond water is static and that the feed particles you throw into the water pollutes and clutters the surface of water hence, making it difficult for the fishes inside the pond to breathe in fresh oxygen. This is one major cause of high mortality rates in the fish farming world.
Buy Fish Feeds
Before you purchase your fingerlings or juvenile, it is advisable that you have your feeds on the ground so that immediately you introduce them (fingerlings or juvenile) into the pond, you can start feeding your fishes.
Aside from acquiring land, drilling the borehole and constructing your pond, fish feeds accrue the basic operational cost in catfish farming business incurring a whopping over 70 percent of the entire expenditure.
We have different kinds of fish feeds in the market and these include Vita feed, Cuppens, Multi-feed, Ziglar, and other locally manufactures fish feeds. It is always advisable at least for the first 2 weeks – 2 months to start feeding the fishes with Ziglar and Cuppens before you proceed with Vita feeds, fish meal and Multi feeds.
Additionally, you can use poultry droppings and other farm bye-products as supplements for these feeds. Have it in your mind that as the month passes, the fishes growth would accelerate and the size of their feeds would as well increase.
Read more: How to Start Floor Tile Business in Nigeria
Employ Effective Fish Feeding Methods
A lot of farmers incur huge losses due to the mistake they make in the process of feeding their fishes.
Fishes are very sensitive and carnivorous, especially catfishes. So, you must take great care in feeding them to reduce mortality rates. Truth is, irrespective of how careful you are or would be, you would still incur some losses due to mortality.
So, firstly, give your fishes high quality feeds.
Secondly, to avoid cannibalism, come up with a feeding routine and adhere to it religiously.
For example, if you feed your fishes two times a day, let’s say by 5 am and 5 pm, stick to this timing/plan because if you derail in feeding them as at the appropriate time, there is that likelihood of your pond becoming a tug of war, where the principle of survival of the fittest comes to play. The stronger ones are bound to feed on the weaker ones. That ensues in a loss for your business.
Thirdly and additionally, following an irregular feeding pattern influences the growth and development of your fishes. A decreased growth rate is what results.
Lastly, concentrate your feed supplies to a specific section of your fish pond in order to avoid contaminating your and stifling the breath or oxygen regulation in your fish pond and to curtail wastage of food.
Stocking Your Fish Farm
It is important, as a beginner, to make sure that you obtain your fingerlings from a good source which specializes in fingerlings supply.
Also, focus on getting high-yielding and healthy species like the Hathor species – these are usually somewhat brownish in colour.
Finally, make sure that you differentiate the fishes based on sizes.
A complete business plan on this will really help. To get that, please let me know.