Have you been wondering how you can start your own catfish farming business in your Nigeria?
We have got you covered today as we have compiled a handful of topics and guides that will make sure you scale through in your catfish farming business.
How to start a catfish farming business in Nigeria
Today farming is a lucrative business but not only farming as a whole but narrow it down to fish farming catfish farming specifically is now a very lucrative business especially in African continents.
If this business is done the proper way you will be making a whole load of cash after each season of sales.
Today let’s discuss below
Profitability of catfish farming in Nigeria
In summary, no man goes into a business without planning I mean proper planning or else you will cry your eyes out in the few months to come due to losses incurred. so to go into the catfish farming business know about its profits how big or small it can be and to know if the money you are willing to pull in is worth it. These are some hints to check on startup.
Its profit scale
Operations & Maintenance (O&M)
Throughout this page, we will be giving you a detailed analysis concerning the profitability of the catfish farming business at a starting level of up to 500 catfishes.
Catfish farming business startup capital in Nigeria
Here let us assume you own land already or have already leased a free land where you will start your catfish farming business. Remember land remains the first step towards your fish business establishment a good land precise so it won’t be included in the cost as we assumed you own land.
Here are the full lists of catfish farming in Nigeria startup costs:
- Up to 400 to 500 fingerlings about #10,000
- 3 to 5 months budget worth for feeding: #140,000
- Constructed tank or preferably use bag pond: 150,000
- Complete startup capital for this amount of fish = #300,000
Note: this depends on your pocket
Operations & maintenance (O&M)
Catfish does not operate a high maintenance level all you need is a little knowledge and you’re good to go. In order to succeed in a catfish business in Nigeria, you will have to be clean take it as if you training a little baby.
- Clean their ponds as at when due
- Change the water and fill their pond with fresh water to avoid infections
- Make sure you have a good drainage system so there would be no logging of water on the compound
- Feed them with high-quality foods make sure you ask around to know the best brand around you or either way you can still choose to personally go to the mill and produce by yourself high-quality catfish food that will boost their overall growth in no distant time.
- You will also need labor more of to help you in some works associated with the catfish farming business this is only if you aren’t available 24/7 to monitor and take care of the fish.
- No there is no need for a veterinary doctor not that they don’t need but most times they don’t need it you can only use a vet when you observe something unusual happening to them.
If you finally decided to produce your own catfish food then you definitely will be needing a guide to a catfish food formula to source out all the food ingredients and to understand and choose which to use and quantity to apply when processing the food. Though it’s not an easy task for folks on the same field as you hide their catfish food recipe with passion.
Catfish farming business market demand
Just understand that no amount of catfish you have is enough for the public. In recent times the demand for catfish scaled up so fast notwithstanding the economic recession in the country. Right from bars, restaurants, eateries, hotels all demand catfish at an alarming rate, and mostly every demand is completely consumed the same day giving another chance for you to sell for them tomorrow. Unlike the poultry business in catfish, farming disposal is not a problem.
How profitable is the catfish farming business
We can’t include (O&M) when calculating these profits due to the fact that it varies depending on the individual capacity both in strength and in money.
So aside from (O&M) let’s assume you raised them in a good healthy shape that your dead fishes were just around (%5), which means that at the starting 25 lost their lives to a tragic accident in the pond (RIP) smiles never mind me, alright then you will be expecting to have 475 fishes that survived the death and if you are able to grow them to 1kg each, at the total of 475 kg of fishes. Holla you are mad rich that season the market price for 1kg of catfish currently is (#800* 475) =#380,000 damn money.
Note: in most cases, not every fish survive there is always a mortality rate but try to make it less.
Remember your initial investment was #300,000 then your gross profit margin would be 22.58%. but a bad side of this catfish farming business is that it does not have a straight cash inflow. Raising them for 4 good months is a lot of time and energy all before they reach the market size of 4kg per fish.
When you feel bad as though all your effort did not yield enough profit there is a way to make up and boost your profit.
You can smoke catfish ad sell to individuals also exportation is also a good one
Smoking catfish and export to tier 1 countries like U.S.A Australia, U.K, Malaysia, and so on would fetch you a handsome reward.
Smoked catfish are attractive and draw a lot of sales in the market. But you will have to apply your effort buy pieces of equipment or go to local firewood and iron net you can as well hire a professional in that field to the job depending on your budget.
Note: you will recover every dime you invested into the smoking of this fish since its now yours as a property except you hired but I would prefer you purchase all so you can use it all over and over again.
Summary on how to start a catfish farming business in Nigeria
Making use of these 4 hints we mapped out to use in checkmating the proficiency of catfish farming business in Nigeria, this business is an (A) listed business in terms of profitability in the country. I would advise you to give this catfish business a try.
The most important knowledge you have to possess is to the do and they don’t techniques and good practices that will ensure a very low mortality rate just like I said earlier it’s hard for them to remain intact you must lose some. And with this right knowledge, you can easily boost your farm productions.
All that we just said is not a must in terms of management and tools you can still personally choose what to use and what to discard. The aim is to reduce costs and boost profits and sales.
Regarding all we wrote concerning how to start a catfish farming business in Nigeria we strongly believe you understood well and can easily start up your own today.
Note: there are some other things which you can also consider but in our article, we gave you the most basic needed knowledge you will need when starting up the business. However, you can as well pay a visit to a farm near you meet with the director /owner open up to him concerning your aim in starting up such a business.
Though he might require a token it’s worth it physical training will broaden your knowledge in the art of catfish farming. Well, notwithstanding leave any questions regarding our topic on how to start a catfish farming business in Nigeria below for our response.
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