Fish farming business can be very profitable with proper planning and good management. For instance, ₦3 million investment in fish farming business could easily result to up to ₦4 million of pure profit within 6 months with proper maintenance.
Which Fish Farming is Profitable?
Incase you are trying to decide the particular type of fish to raise that can be more profitable for you, here are the three (3) most popular species of fishes that has proven to be very profitable in the fish farming business that is suitable for Aquaculture;
1. Catfish (Cat Fish)
Catfish species is by far the most cultivated specie of fish in Nigeria and is said to be one of the easiest fish species to cultivate thereby making people naturally flow to the direction of fish specie they found to be the easiest to cultivate.
2. Tilapia Fish
Tilapia fishes are the second most popular fish in Nigeria’s aquaculture industry as it is also one of the popular fishes cultured by most Nigerian fish farmers,
Tilapia fishes are also very easy to cultivate and are very popular in Nigerian market because they reproduce very rapidly and grows fast too thereby making it a profitable fish specie to venture into in fish farming business.
3. Mackerel (Titus) Fishes
They are by far one of the most popular fishes in Nigerian markets but unfortunately they are not farmed by Nigerian fish farmers as all mackerel fishes consumed are “wild caught”, although some fish farmers in Nigeria are considering the possibility of culturing mackerel fishes by creating artificial salty water that will be similar to sea water where mackerel can only survive.
Here is a brief estimate of how much it will cost you to start a small scale catfish farming business in Nigeria below;
First, I will be making an assumption that you already have a farmland whether on lease or full ownership as I won’t be factoring in the cost of getting a farmland in this estimate.
Now in summary, catfish farming business in Nigeria startup costs:
– 500 fingerlings: ₦10,000
– Wooden (VAT) tank construction and labour costs: ₦150,000
– 4-months worth of feeding the fishes costs: ₦150,000
Total startup capital for 500 fishes in Nigeria costs: ₦310, 000.
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