As government continues to implement policies that would return the country to the path of prosperity and put smiles on the faces of the people, who appear to be worst hit by the poor state of the economy, one of the businesses that can improve the condition of living of many Nigerian is fish farming.
Sunday Tribune investigation revealed that fish farming is one of the opportunities any business-minded Nigerian can explore. The business, which involves raising fish commercially in tanks or enclosure, is not entirely new to Nigerians but only a few people have been tapping into the gold mine.
According to Mrs Bunmi Iluyomade, a retired banker, who has a large fish pond around Elebu area of Ibadan, Oyo State, fish farming is one sure way to financial stability.
According to her, “this is one business that many people are yet to tap into because they feel it is capital intensive. But the truth is that fishery or fish farming, as the case may be, is very cheap to operate. The most important thing is to ensure that the fishes are well fed and are kept in a place where they would be able to move around and probably source for their own food.
“Once you know the right things to do and you are ready to follow the guidelines, you will enjoy fishery. I retired as a banker seven years ago and since then, I have been into fishery. I harvest over 10, 000 fishes every three months.”
Iluyomade is just one of many people who have struck gold through fish farming, even as investigation revealed that many people have converted the backyard of their houses to mini-fish pond.
Though, not all species of fish are suitable for farming in Nigeria, either because of their nature or low in demand in the fish market, but one thing that has been proven to be true is that the business is thriving and those who have been involved in it over the years have confirmed that it is highly profitable and the risk is also minimal.
According to experts, the most common species fishes that are suitable for farming in Nigeria are catfish and tilapia.
With fish farming gaining popularity, it could be one of the means for many Nigerians to beat poverty and hunger. “Fish breeding has emancipated many of us from poverty,” said a fish breeder.
Sunday Tribune also gathered that most owners of restaurants prefer catfish to other species of fish because of its high demand.
According to a fish, farming expert, who gave his name as Rotimi Babalola, most fish farmers breed catfish because that’s what people demand for when they visit restaurants. It is the most common fish you would find around. If you are a fish farmer, you deal in catfish.”
Speaking on what it takes to start the business, Babalola said that with N100, 000, one could venture into the business and start to harvest in three months. Some people may choose to start with N300, 000 to N500, 000, depending on the size of the land and the number of the fish.
He, however, cautioned that to be successful in the business is largely dependent on the kind of land one intends to use. He recommended a swampy land and loamy soil for starters.
“To start the business, you need a pond and a good source of water. As oxygen is important to man, so also is water to the fish. The business is very profitable and less risky to do, but one has to be ready for it. The capital to start does not necessarily need to be much as one may even start with about N100,000 and it may go as high as N300,000.”
The number of fish one intends to breed will determine the space that would be required for fishery. For starters, they could start with no fewer than 2,000 pieces of catfish that must be fed twice in a day. Feeding the fish is crucial to their survival as they would grow faster and healthier if they are well fed. It is important to know when to feed them and the quantity of the feeds.
How to start the business
Just like man, fishes need comfortable place to live in. There are two popular fish housing systems- backyard plastic tank or pond. Plastic tank may be good for starters as this would help one to be familiar with the nature of the fishery business. For fish ponds, they come in sizes and the cost varies, depending on the environment and need.
A fish farmer and consultant, Festus Bankole, said “before you go into fish farming, you need to determine whether you want to go into big or small-scale commercial venture. Secondly, the pond system to adopt, whether it is a flow-through system or recirculatory system using either earthen pond, concrete, or plastic tanks,” Bankole explained.
Capital to start
This varies depending on the type of fish farming systems you are willing and ready to invest in. With a minimum of N150, 000, you can start the production of fingerlings to grow to three weeks, then you can advertise for sale to other farmers to buy at an average price N30 depending on the size.
Know your market
Once you know what your options are and how much money you need, the next step should be analysing the market. Who are your buyers? What type of fish is most profitable?
Feeding the fish
The fish can naturally feed inside the pond, which include detritus, bacteria, worms and insects. There is also the supplementary feed locally available such as plants, kitchen wastes or agricultural by-products. Supplementary feed may be good, but they are not meant for serious fish farmers. The third method is the fish mill or fish feed. They are usually of good nutrients made by experts who understand the perfect formula for the fish at a different stage.
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