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BUSINESS PLAN FOR NONYE'S CATFISH FARM
by Faith Eke
2019, BUSINESS PLAN FOR NONYE'S CATFISH FARM
Nonye Fish Concept came up as a response to the under-utilization of the water heritage of Nigeria and the unparalleled increase in demand of seafoods due to their health and tasty advantage. Nonye Fish Farm aims at exploiting the rich benefit of fresh fish food that is easy to farm in our environment through professional growing of and marketing of Cat fish for local consumption. The business has low competition here in Nigeria but high demand. This is why I are putting our focus into it. I have consulted successful entrepreneurs in this business and taken into consideration viable measures that will take this business to the desired level. This business is costed to be about two hundred thousand naira to start but projected to yield about four hundred thousand naira in three months and thus yielding about a million naira in nine months. I have been able to access a piece of land for the business, a market base already and permission from controlling bodies. We have created a professional logo for Nonye Fish Farm and are ready to take the business to great heights. I intend maximizing my skills in fish farming to meet up with my goals and make gold-worth profits as the business promises 700% return on invested in one year.
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Onwuchekwa Raphael Iheke
2014, Fisheries and Aquaculture Journal
2019, IOSR Journals
This study determined the profitability of catfish production in Kuje Area Council federal Capital Territory Abuja, Nigeria. Data were obtained through the aid of a pre-tested structured questionnaire. The questionnaires were administered to 50 sampled respondents using simple random sampling technique. Descriptive analysis was used to analyze the socio-economic characteristics of the respondent Farm Budgetary technique was used to analyzed the profitability of cat fish production in the study area, while descriptive statistics was also used to analyze the constraint faced by catfish farmers. The result shows that 26 percent of the sampled respondents were between 31-35 years of age, while 68 percent of the respondents attained secondary education. The result of the budgetary technique show that cat fish production is profitable in the study area with average revenue of N5,9310,000:00 and gross margin of N4,806,200:00. The profit realized by the sampled respondents on average was N4,729,820:00, this revealed that cat fish production is a very lucrative enterprise to venture into in the study area. Though catfish production was profitable, farmers encountered: lack of capital, poor stock of fingerlings, poor marketing outlet and transportation, high cost of input and labour, theft as major constraints. Therefore, the study concluded that catfish production is a profitable enterprise, when properly financed and all its associated problems well managed for efficient productivity. The study also recommends that adequate provision of capital and inputs should be made available to farmers, there is also need for government to established modern hatcheries in the study area to supply quality fingerlings, extension services should be scalp up, and adequate marketing outlet and storage facilities should be made available to farmers at a subsidized rate as this will assist the small scale farmers increase their output and hence profit level in the study area.
Challenges, risks and constraints are intrinsic part of any business; fish farming is not an exception. These limit the potential and expected profit of the business. This study analysed the profitability and the challenges limiting the profitability of catfish production in Southwest Nigeria. A 2-stage random sampling procedure was used to select 400 catfish farmers in four randomly selected states in Southwest Nigeria. Structured questionnaire was designed to collect data. Descriptive statistics, Gross margin analysis, Benefit Cost Ratio (BCR) and Expense Structure Ratio (ESR) were used to analyse data. The results show that on the average, size of catfish at harvest was 1.02Kg, production period was 4.37 months, market price was ₦645.45 and the breakeven price was ₦474.43. Also, the total revenue was ₦1,269,961.60, total cost was ₦933,467.98, profit was ₦336,493.62, BCR was 1.36 and ESR was 0.05. Although catfish farming is profitable in Southwest Nigeria, five categories of chal...
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Abstract: Despite the potential of the fisheries resources, the sector has not been given its deserved position in Nigerian National Economy but investment in aquaculture production has been declining in Yobe State. This study was undertaken to assess the profitability of some fish farms and investigate the factors influencing fish farming in Yobe State, Nigeria. The factors influencing fish farming are: poaching, unstable and defective government policy, inadequate/ non-updated environmental audit reports and not adopting modern methods of aquaculture negate the development and profitability of this sector in the State. An average production cost of N550/kg, sales N650/kg, profit margin N100/kg of catfish. The gross turn-over ratio is 0.8 while the net income realized per capital invested is 0.2. The aquaculture practice in Yobe state is still profitable. Recommendations to increase the production and improve the profit margin and sustainability of the sector were made. Key words: Profitability, small scale, fish farms, fish production
The results revealed that there was a high literacy level among sample farmers (95.4 percent) which is enough to support information on technology use. On an average total cost of N403139 was incurred while total revenue of N631316 was realized with a gross margin of N356906 and net income of N228177 per hectare per annum. The rate of return on investment of 0.56 implies that for every one naira invested, a return of N1.56 and a profit of N0.56 were obtained with production efficiency index of 1.56 reaffirming the ingenuity of the considerable level of profitability achieved in the enterprise. This showed that fish production in the study area was economically rewarding and profitable. It is capable of creating employment, augmenting income and improving the standards of living of the people. The government participation in fish farming is solicited to boost the quantity of fish available for consumption.
Ashafa sambo , Kabir Abdulaziz
2021, Profitability Analysis of Small-Scale Fish Production in Zangon-Kataf Local Government Area of Kaduna State, Nigeria
The research looked into the viability of small-scale fish farming in Kaduna State, Nigeria. The specific goals were to describe the socioeconomic characteristics of small-scale fish farmers, determine the profitability of small-scale fish farming in the study area, determine the relationship between inputs used and quantities of fish harvested, and identify the constraints militating against small-scale fish farming in the study area. Samples were selected using multi-stage sampling techniques, and 60 farmers were chosen at random. Structured questionnaires were used to collect data, which was then analysed using descriptive statistics, gross margin analysis, and multiple regression models. The results of socioeconomic characteristics revealed that the majority of fish farmers (68%) were male, married (71.7%), well-educated, and between the ages of 31 and 50. (53.4%). Furthermore, the vast majority of fish farmers (88.4%) worked in occupations other than fish production. Small-scale fish production was profitable and worthwhile, with a gross margin of ₦6,407.83 ($170.33) per production cycle and a return on investment of 0.73. The linear regression results showed that the number of fingerlings stocked, the amount of feed fed, and the frequency of water changes all have a significant influence on the quantity of fish harvested at p≤0.01, p≤0.05, and p≤0.05, respectively. The most significant constraints working against small-scale fish production in the study area were the high cost of feeds and the inadequacy of fingerlings. The study suggests that farmers be trained in feed formulation in order to reduce production costs, and that individuals, firms, and other stakeholders investigate the enterprise of fingerlings production and marketing in order to increase profit and make fingerlings available to small scale fish farmers in the study area.
International Journal of Fisheries and Aquaculture
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2015, Journal of Agriculture and Food Sciences
Samuel O L U W A F E M I Adeoti
The high percentage that the cost of feeding covers in the catfish production enterprise calls for the search of a less expensive substitute to the imported feed commonly used by fish farmers in the nation hence the need for this research and this research looked into the level of profitability of catfish farming enterprise using local floating feed in Osun State, the constraints and solutions to the enterprise in the state. Multi-stage sampling technique was used to obtain primary data from the respondents with the aid of a well-structured questionnaire, 180 locally pelleted floating feed users. Data were collected on the cost and returns of the enterprise, constraints to the enterprise and the likely solution. It was discovered that the enterprise is profitable with a net farm income of N1,008,769.30 and gross margin of N1,039,814.79, the rate of return, operating expenses ratio and other profitability ratios confirm the profitable nature of the enterprise. Importance ranking index was used to rank the constraints identified by the farmers and the Inability to access funds to expand production, High Cost of extruder and other machines, need to use higher volume/quantity than the imported, Unstable market price of feed ingredients and Rough appearance and less attractive saint/odour in order of importance were identified by the farmers. Also, Government loan at low interest rate, Provision of floating feed machine and other tools at low cost, Provision of good quality water, Stability of market price of fish and fish feed ingredients and Improvement on the feed by a research institute in order of importance were identified by the farmers as solution to the problems. It can be concluded that aquaculture production is a profitable investment considering the size of gross revenue obtained from the study, the feed has a significant contribution to fish production. In order to make feed available at a relatively cheaper price for small scale catfish farmers, commercial feed millers should collaborate with relevant institutes and other relevant agricultural research centres to work out alternative substitutes to the currently imported fish meal that constitute the highest cost in feed formulation also the government should encourage financial institutions to give loans to serious minded investors at considerable interest rates but with proper monitoring
European Journal of Theoretical and Applied Sciences
This study assessed the economics of catfish farming in Makurdi Local Government Area of Benue State. Snowball sampling techniques was used in selecting 84 catfish famers for the study. Data was collected through the use of structured questionnaire, administered to the selected catfish famers. Data were analyzed using descriptive statistics, net farm income and multiple regression analysis. Costs and return structure showed a mean value cost of production N1, 151, 460.67 with mean revenue of N1, 788, 663 and a gross margin of N703, 776.33. Gross ratio and operating ratio were 1.55 and 0.61, respectively; while, return per naira invested was 61k. The greater than one value of gross ratio indicated that catfish farming was profitable; while a less than one operating ratio shows that catfish farmers were efficient in managing costs. The result of the regression showed that fingerlings have a positive and statistically significant at 1%, feed at 5% and the f-value is significant at 1%. ...
Science and Education Development Institute (SEDInst)
2019, Continental J. Sustainable Development
This study assessed the problems facing fish farmers in four (4) Local Government Areas of Kwara State. Thirty (30) fish farmers based on availability were surveyed in this study. The stratified sampling technique was used to carry out the survey. The data collected were subjected to descriptive analysis. The outcome of the survey exercise carried out revealed that water shortages during dry season, lack of capital, disease and pest infestation and high cost of fish feed were identified as part of the major problems that affected fish farming business in the study area. The study recommends the use of supplementary feed for catfish such as maggot and other locally formulated feed as an alternative to foreign feeds which are very expensive. In view of this, the study further recommends that fish farmers in Kwara State should attend trainings on maggot production, preservation and utilization.
2015, Journal of Aquaculture Research & Development
Catfish farmers are facing new barriers in both their production and returns on investment. Despite its potentials, the level of fish production has failed to meet domestic demand. This study aims to analyze the determinants of catfish production so as to boost the level of farm productivity and profitability. Random sampling techniques were employed in selecting the respondents for this study. Primary data was collected using structured questionnaires. Descriptive statistics, budgetary techniques and multiple regression analysis were the analytical techniques employed. The results indicated that most (58.3%) were within the age bracket of 20-39 years; 63.3% were male; most (75%) used organic fertilizer; 45% had no access to credit; most (75%) had formal education; 83.3% used earthen ponds; 83.3% were married; most (58.3%) had household population of 1-5 people; 66.7% had farming experience of 1-5 years; 75% hired labour; 91.7% had no access to extension contact; 58.3% had pond size...
Indonesian Journal of Agricultural Research
The study aims to analyze the economic value of dried fish business by considering its added value of Hayami and marketing. This study uses primary data by surveying 55 dried fish producers in Bengkulu city. The results show that the average output price of dried fish is Rp6,586.61/kg. Using formula of Hayami’s added value, the average added value gained is Rp3,486.14/kg. This informs that every a kilogram of fresh fish processed into dried fish will create added value of Rp3,486.14. When labor under consideration, labor added value in fish dried industries is Rp651.37 informing that an average of labor income for every kilogram of fish dried produced. The research also found that there are four patterns of marketing channels. From weekly average production of dried fish, i.e., 4,345 kg, 43.73 % is distributed to big traders while the remaining, 56.27%, is consumed directly. From big traders, dried fish are then distributed through three channel, namely, (1) 43.11 % are marketed to ...
The study evaluates economic analysis of cat Fish Production in Karu local government area of Nasarawa State, Nigeria. Primary data was used for this study. Data were obtained using structured questionnaire. The questionnaires were administered to twenty (20) sampled fish farmers using a simple random sampling technique. Data obtained were analyzed using descriptive statistics to describe and categorize the socio-economics characteristics of the respondents; budgetary technique was used to analyze the Profitability of fish production in the study area. The result shows that (35%) of the sampled fish farmers fall within the age bracket of 21-30 years, and 31-40 years respectively and the average age of the sampled farmers was 41 years; The average farming experience of the sampled farmers was 8 years. Also 55% percent of the respondents depend on borehole for source of water while (5%) depend directly on either stream or river as their major source of water. In terms of holding/rearing structure, 45% percent of the sampled respondents used concrete pond only, while (30%) of the respondents used both concrete and earthen ponds, 25% percent of the respondents used earthen pond only. The result of the profitability analysis shows that a total average cost (TAC) of N919, 667.6 was incurred by the sampled fish farmers per cropping season while the total revenue (TR) of N1, 296, 894.00 was realized with a returning gross margin (GM) of N309, 909.3 in the study area and the rate of return on investment realized was 31% which shows that for every N1.00 invested, 31kobo is gained on investment by the respondents. This indicates that fish farmingis a profitable venture in the study area. Despite the profitability of fish production in the study area farmers encountered production constraints such as preservation/storage and processing facilities, inadequate motivation from extension officers lack of capital, lack and high cost of feeds, market fluctuation, source of water, fingerlings and technical know-how were identified as major constraint of fish production in the study area. The study recommends that provision should be made for trained extension agents to create awareness about fish production, capital, and source of water, fingerlings and subsidized fish feed.
This study assessed the socioeconomic analysis of fish farming in Oyo State, Nigeria. A multi-stage random sampling technique was used to select 222 fish farmers from all the four agricultural zones in the state. Data collected were analyzed using descriptive statistics, budgetary analysis and profitability ratios. The study revealed that the mean age, household size and fish farming experience were 46 years, 6 persons per household and 9.3 years respectively. The result of the budgetary analysis show that average total cost (TC) of N 2,883, 515.08 was incurred, total revenue (TR) of N 4,873,521.29 was realized and a returning gross margin (GM) of N 2,376,616.36. The profitability ratio gave a benefit-cost ratio of 1.69, rate of return of 0.69 gross revenue ratio (GRR) of 0.59 and expense structure ratio (ESR) of 0.15. This is an indication that fish farming is profitable in the study area. Constraints perceived by most of the farmers include high cost of fish feed and market price fluctuation. Significant level of profit obtained from the study is evidence that it has the potential in alleviating household poverty in the country thus; government should provide credit facilities with small interest rate to fish farmers. Abstract-This study assessed the socioeconomic analysis of fish farming in Oyo State, Nigeria. A multi-stage random sampling technique was used to select 222 fish farmers from all the four agricultural zones in the state. Data collected were analyzed using descriptive statistics, budgetary analysis and profitability ratios. The study revealed that the mean age, household size and fish farming experience were 46 years, 6 persons per household and 9.3 years respectively. The result of the budgetary analysis show that average total cost (TC) of N 2,883, 515.08 was incurred, total revenue (TR) of N 4,873,521.29 was realized and a returning gross margin (GM) of N 2,376,616.36. The profitability ratio gave a benefit-cost ratio of 1.69, rate of return of 0.69 gross revenue ratio (GRR) of 0.59 and expense structure ratio (ESR) of 0.15. This is an indication that fish farming is profitable in the study area. Constraints perceived by most of the farmers include high cost of fish feed and market price fluctuation. Significant level of profit obtained from the study is evidence that it has the potential in alleviating household poverty in the country thus; government should provide credit facilities with small interest rate to fish farmers.
The successful formation of the association and its continued growth show the clear benefits it brings to the small scale farmers and to all the stakeholders in the fish farm industry. In terms of production, recent reports by the Lagos State Ministry of Agriculture and Cooperatives indicate that this has doubled during the last 2 years. It is also interesting to see that, because of the information shared, the production cycle in most fish farms has reduced from 8 to 5 months. Looking into the future, the Association is planning to make credits available to members with its accumulated funds. It is also thinking of inviting not only the producers (fish farmers) as members, but also other stakeholders (input dealers, service providers, feed millers, marketers). This may lead to more efficient input and output supply chains, taking everybody’s interests into account.
Fish is an important source of food, income, employment, and recreation for people around the world and it is a very important source of animal protein for both man and livestock in developed and developing countries. In Nigeria, the current demand for fish is about four times the level of local production. Humans consume approximately 80 percent of the catch as food. The remaining 20 percent goes into the manufacturing of products such as fish oil, fertilizers, and animal food. Small scale fish farming is an integral part of agriculture which was found to have the capacity to increase the country's GDP (Gross Domestic Product) and can solve the unemployment problem for our teeming youths if adequately managed and practiced. Therefore, this paper reviewed the status of small-scale fish farming in Nigeria, its problems and prospects.
2021, International Journal of Agricultural Economics and Rural Development
The study examined the viability of fish marketing in Andoni Local Government Area, Rivers State Nigeria. It was aimed at, describing the socioeconomic characteristics of the marketers, analyzing costs and returns in fish marketing, and identifying the problems associated with fish marketing. Multi-stage sampling techniques were used to select 80 marketers from which data were obtained using structured questionnaire. The data were analyzed via descriptive statistics, gross margin model, and 4-point scale rating technique. Findings from the study showed that, the fish marketers were prevalently females having 70.0% share over their male counterpart with only 30.0%. furthermore, it was observed that, majority (45.6%) of the marketers were between the ages of ages 31-40 years and that a substantial number (72.5%) of the marketers were married. Findings on costs and returns showed that the trade is profitable with a monthly profit of ₦623,386.67. Meanwhile, analysis from the 4-point scale rating technique showed that with a mean score of 3.60 the major constraint faced by the marketers was unfavourable weather condition and which was followed by inadequate capital with a mean score of 3.21. Government and Non-governmental organisations should provide soft loan facilities to marketers so that their capital structure can be boosted.
2020, Journal of Aquaculture & Livestock Production
The setting up of concrete ponds fish farm in a full plot of land with N10,000,000 capital needed as cash on interest free loan basis payable in five (5) years period with the sole aim of making profit was projected. The management was based on polyculture of catfishes (Clarian gariepinus). Data for the study was collected through face to face interview and the use of checklist from the 22nd of May to 27th of July, 2019. Based on financial analysis an interest free loan of N10,000000 was required, payable within a period of 5years, a good return on investment was realized. In addition, the state government was encouraged to empower the populace to engage in aquaculture fish production system. Government fish farms that are no longer operational were recommended for privatization and or commercialization on revival for the provision of more employment, income generation and poverty reduction, especially among the internally displaced person (IDP) in Nigeria.
2021, Asian Journal of Agriculture and Food Sciences
ABSTRACT---The study was carried out in Onitsha north and Onitsha south local government area of Anambra State Nigeria. The main objective of the study was to assess the profitability and viability of catfish marketing. Data were collected with structured questionnaires administered to 65 randomly selected catfish marketers. Mean, frequency, percentages, gross margin, Net profit, Gross margin ratio, Operating ratio and Return on investment were all employed to analyze the objectives. The result revealed that transportation cost is the most militating factor against catfish marketing in Onitsha north and Onitsha south local government area of Anambra State Nigeria. The study also revealed that, catfish marketing in the study area was profitable and viable with return on Investment (ROI) of 22.17% and a Gross Margin ratio of 18.14%. The study therefore, recommends that government should provide storage facility and rehabilitate our roads to reduce the cost of transportation in marketing.
2014, Journal of Biology Agriculture and Healthcare
This paper reports findings of a survey of fish farming facilities, operational practices and problems faced by the fish farmers in Ibarapa area of Oyo state, Nigeria. Questionnaires were distributed at random to fish farmers in the seven major towns and villages that make up the three local government areas in Ibarapa region. The data obtained was analysed using simple descriptive statistics. Fish farming has been practiced in the region for over a decade. 62% of the respondent farms practiced monoculture, 61% practiced integrated farming, 38% use earthen pond only as cultured facilities and 75 % of respondents cultured African catfish only. The major problem being faced by the farms is inadequate water supply for fish farming operation which constitutes the major problem of 44% of the respondents while 31% of the respondents considered paucity of funds as the major problem stalling expansion of their activities. Fish farming in this region is not growing as expected despite no problem of personnel but non availability of natural water body in this region is a major constraint since fish farming required adequate water supply at least possible cost.
John B U N M I Olasunkanmi
Information on economic viability of aquaculture is crucial for inves tors when assessing the feasibility of an aquaculture investment. Unfortunately, such information has been scarce in Nigeria. The economic analysis of fish farming in Osun State, South - Western Nigeria was therefore carried out using data collected from sev enty two randomly selected fish farms. Data were analyzed using descriptive statistics, costs and returns, as well as multiple regression analysis. The relationship between fish output and five inputs: feed, fertilizer, lime, labour and fingerlings were me asured using Cobb - Douglass production model. Results suggest that a unit increase in fertilizer application contributed 46 percent increase to the profitability of the fish farms and this was significant at p<0.01. Also, labour was significant at p<0.05 as the results suggest that a unit increase in labour contributed 60 per cent increase to the profitability of the fish farms. The model explained 81% of the variation in total output. On the whole, fish farming was found to be profitable with a benefit - cost ratio of 1.65 and profit – cost ratio of 0.65. It is recommended that fish farmers in the study area should increase their use of feed, li me and fingerlings and decrease their use of fertilizer and labour. Data on the socio - economic characteristics of farme rs revealed that most fish farmers (58.3%) in the State were males, aged between 31 - 50 years old. About 91.7% of fish farmers were married and 95.8% had formal education. About 86.1% owned land either by inheritance or purchase, 8.3% operated on leased lan d and 5.6% rented the land upon which they operated. About 75% of the respondents got their capital from personal savings, 11.1% from cooperatives, and only 5.6% had access to bank loans. About 52.8% were regularly visited by extension agents 16.7% were oc casionally visited while 30.5% were seldom visited. Only 27.8% belonged to farmers’ association. Keywords: Economic analysis, Aquaculture, Fish farming, Cobb - Douglass model, Nigeria. Number of words: 302.
— The study was on economics of catfish production in Anambra State of Nigeria. Structured questionnaire and oral interview were administered on sixty catfish farmers selected from the state. Percentage response was used to determine the farmers' socioeconomic characteristics and constraints to catfish production. Semi log functional form was used to analyze the effect of farmers' socioeconomic characteristics on their output. The profitability in catfish was determined using gross margin and profit analysis. The result of the socioeconomic characteristics shows that majority of the catfish farmers were male (83.3%) and of the age bracket of 31-40 (40%). Most of the catfish farmers were literate (91.7%) and operated on pond size of 5m 2 (50%). The socioeconomic determinants to catfish farmers' output were educational level, farming experience and membership of cooperative. The gross margin of N323,600 and profit of N155,100 were recorded. The gross margin of N322,600, profit of N153,000, benefit cost ratio of 1.40, expense structure ratio of 0:48 and a gross ratio of 0.2123 were recorded. The major constraints to catfish production in the study area were cannibalism, poor access to credit, poor access to extension services, high cost of building material, high cost of feed and poor fish breed and scarcity of fingerling (13.3%). Recommendations offered included improving farmers' access to improve fingerlings and education through seminars and workshops.
Samuel S O O Ogunmefun
Okomoda Victor Tosin , Solomon Sola Gabriel
Starting an aquaculture business in Nigeria requires a good understanding of the industry. Small aquaculture ventures cannot compete effectively in the present scenario where large farms are springing up in the urban areas of Nigeria. The export market for aquaculture products has not been fully exploited. The export of smoked fish to the United Kingdom has been ongoing and is expanding but it is meant to serve the African community in the UK. The bane of the aquaculture industry lies in the small nature of most of the enterprises. Nigeria has no specific legislation on aquaculture hence the idea of a National Aquaculture Strategic Initiative is a welcome development.
The study was on economic analysis of fish farming in Calabar, Cross River State, Nigeria. It determined the factors affecting fish farming, estimated gross margin of fish farms and examined the costs and returns relationship of fish farming in the study area. The study utilized a two stage sampling technique to select 36 fish farms in Calabar. The study revealed that the major constraints affecting increased level of output in the study area were high cost of inputs, lack of adequate finance, access to credit facilities, security and farm labour problems. Fish farming in the study area is profitable as majority of the farmers made a gross margin of N400, 000-N700, 000 per annum. It was also discovered that the amount spent on stocking accounted for 37.27% of the running cost, followed by amount spent on water (30.21%), feeding (16.51%) and labour (14.84%). Multiple regression analysis was used to analyze the data. Cob-Douglas equation was chosen to be the lead equation because of s...
2017, International Organization of Scientific Research
This study aimed to analyze catfish entrepreneurship in Imo State with specific objectives to identify the socioeconomic characteristics of catfish entrepreneurs, estimate the cost and returns of catfish entrepreneurs and factors influencing their returns, Multi-stage random sampling technique was used to select 120 fish farmers. Primary data was collected with the aid of well-structured questionnaire. The data obtained was analyzed using descriptive statistical technique, cost and return model, multiple regression analysis, The result of the descriptive statistical technique showed that 37.50% of the cat fish entrepreneur's fall within the age bracket of 35-45years and mean age was 43 years, 58.33% of the cat fish entrepreneurs are men while only 41.67% of them are women, 50% of cat fish entrepreneurs have attended primary education, 40% of the cat fish entrepreneurs have between 2-5 persons in their households and the mean household size was 7 persons. The result of the cost and return showed that total variable cost was estimated as N2573041.25 which is about 73.32% of the total cost. The total fixed cost was N937226.58 which is 26.70% of the total cost incurred. The total cost was 3510267.83 and the total revenue was 4673521.25.
Fisheries sector plays an important role in Nigeria economy. Contribution of the sector to the nation’s economy can be increased if challenges in the industry are minimized and the opportunities explored. Large scale aquaculture, an economic activity earning people a living is a very important industry encompassing fish traders, fish processors, fish farmers etc. The sector supports many Nigerians directly and indirectly. However fish importation is much more in quantity and value. 80% of aquaculture production in Nigeria is manned by small-scale farmers, except for few commercial ventures. Nigeria is blessed with numerous opportunities for large-scale aquaculture; however the challenges seem to over ride these opportunities. Constraints to production in the industry have been identified as recurrent high cost fish feed, poor water quality management, poor quality fish seed, technical know-how etc. Beyond the constraints to production are more pertinent factors responsible for un-su...
The study employs simple descriptive statistics and budgetary analysis to compare the production characteristics, profitability and challenges associated with fish production in Akwa Ibom and Rivers States, Nigeria. Primary data collected from 60 selected fish farmers in six Local Government Areas with the aid of a questionnaire were used for the study. From the outcome of the research, male (85%), educated (95%) and married (63.3%) with more than 5 years of experience dominated the study area. Farmers in Akwa Ibom and Rivers States have a Net Farm Income of # 998, 100 and #1, 435, 557.2 respectively, implying that fish production was more profitable in Rivers State than Akwa Ibom State. Apart from having a lower average feeding cost and mortality rates than their Akwa Ibom State counterpart, Rivers State farmers were also better in terms of sound fish management practices, access to extension service and frequency of harvest. Beyond this, average rate of return on fish sales (ROS), rate of return on variable cost (RRVC%) and operating ratio values of 0.613, 264.3, and 0.37 in Akwa Ibom State and 0.703, 349.9 and 0.28 in Rivers State all lend credence to the profitability and prospect of fish production in the study area. In addition, poor access to finance, high cost of feeds and other inputs, lack of organized market, high cost of storage and rampant incidence of theft were the major fish production challenges identified in the study area. Hence, effort to ensure credit availability, minimizing cost of feeds and other inputs, reducing storage cost, incidence of theft as well as boosting fish marketing through trainings, seminars, workshops and other awareness creation forum should be encouraged.
Armstrong E . Ogidi
The risk involved in fish farming is solely borne by the catfish farmer. Most lands in the rural areas, especially, are inherited lands, making it difficult to rent such lands. The objective of this study was to examine the socio‐economic characteristics of catfish producers in Benue State, Nigeria. Findings of the study implied that the men are more likely involved in catfish farming in Benue State, than their female counterpart. The catfish business in the study area compliments other sources of income, and contributes to the protein requirements of the family. Most catfish farmers in Benue State prefer earthen fish ponds. Earthen fish ponds are economical to construct and the loamy‐clay soil in Benue State holds water for a long time. Improvement in the years of experience in catfish production business could be achieved if catfish managers attend trainings or demonstration farms at least once every year. Catfish producers should be taught modern methods of fish production such as the use of tarpaulins and plastic containers by NGOs, and co‐operatives. In order for catfish producers to operate at full time, Government and financial institutions should make it possible for farmers to have easy access to finance.
This study assessed the marketing strategies of fish in in Obio Akpor Local of Rivers State, Nigeria. One hundred and fifty (150) fish marketers were selected using random sampling procedure. The data were collected through the use of questionnaires and were analyzed using descriptive statistics. The result of the socioeconomic characteristics showed that majority of the respondents: 44.67% were within the age bracket of 36-50. Most of the respondents (94.67%) in the study area are women. While, 48.00% had only secondary education, 77.34% were married. Also revealed from the result, 42.00% of fish marketers in the study area had marketing experience of 11 to 15 years. In the study area most (60.00%) of the marketers sourced their fish from importation. Majority (60.67%) of fish marketers pass through the channel: Source to Wholesalers to Retailers to Consumers as the most common channel in the study area. Most of the marketers (60.00%) sold their fish in frozen form. Most of the sellers (33.33%) engaged in open market display to sell their fish. The major constraints faced by the respondents in fish marketing in the study area was insufficient finance, lack of good storage facilities , purchase price instability, poor coordination of markets, inadequate local markets and high transport cost. Based on the results of the study, fish marketers should be encouraged to participate in cooperatives society, so as to attract funds from government and nongovernmental organizations to support their business. Furthermore, policies that will guarantee price stability and improve the microfinance arrangements should be put in place to enhance the business of fish marketing in the study area.
Albert U Ofuoku
This study ascertained the constraints to small-scale fish farming in Delta State of Nigeria. Data were obtained through questionnaire, personal interview and observations from 75 respondents. Descriptive statistics and chi-square test were used to analyse the data. The constraints to fish farming in Delta State included poaching, high cost of inputs, lack of credit facilities, inadequate extension services, pollution, high cost of equipment and ecological problems like overflooding. The innovations adopted mostly by the respondents included fish breeding technique, feed formulation technique, fast growing exotic/hybrids and ecological disaster management/prevention. Others were pollution management, smoking equipment and brood stock selection technique. The chi-square analysis showed that a significant relationship exists between innovation adoption and the constraints to fish farming but did not show that the years of experience of the farmers have significant relationship with the constraints. The study recommended among others that the small–scale farmers should be encouraged and guided to form a cooperative society
Selcuk Journal of Agricultural and Food Sciences
The continuous importation of fish portends a colossal loss of foreign exchange reserved to Nigeria which requires urgent attention to boost fish production. It is against this backdrop that this study analyzed the profitability analysis of catfish production in Edo State, Nigeria. It specifically describe the production characteristics of the catfish farmers, estimate the input and output quantities of catfish, determine the profitability and identify the constraints associated with catfish production in the study area. Multi-stage sampling procedure was employed to select a total of 468 catfish farmers from the study area. Data collection was achieved through the administration of structured questionnaire. Data analysis was done using descriptive statistics, budgetary techniques and 4-Point Likert-type scale. The results revealed that the farmers in the study area used more of personal savings (58.12%), family land (59.40%) and local feed (82.48%). Stocked more at juvenile stage (...
This research aims to identify problems and indicators as the foreground for arranging development pattern for aquaculture business, to recommend direction and target for regional government’s policies in anticipating the development of aquaculture business as a potential that needs integrated management, and also to recommend possible core business to be expanded. Data are collected from general condition in the location, spatial utilization pattern (land/waters), human population, intraregional and interregional movement of goods and services, identification of aqua-cultural core business potentials, market identification and analysis, intraregional and interregional local market, investment opportunities, sociocultural condition including institutional, business pattern, consumption, income per capita, transportation system, number and distribution of facilities and infrastructures, as well as internal aquacultural facilities. The methods used for data collecting include surveys and interviews related to the core business planning for aquaculture in Indramayu. The data are then analyzed using Space Factor application intended to map business optimalization by identifying the condition, position, or problems in business (strengths, weaknesses, opportunities, threats) to formulate the next strategies. SWOT Analysis is used as the tool and results in catfish farming places in IFAS point (3.01) and EFAS (3.03) while vannamei shrimp farming places in IFAS (3.43) and EFAS (2.80) indicating that those farmings may be potentials in overcoming weaknesses and obstacles in the future. Core business strategy planning is composed using matrix space. Though vulnerable to various threats, aquaculture businesses still have strengths in internal scope. The suggested strategy for this is to use strength in using long-term opportunities by implementing diversification (for products or markets). Vannamei shrimp farming falls into this category. It is also suggested for the business to minimize company’s internal problems in order to seize better marketing opportunities. Catfish farming falls into this category.
SIDIQAT ADERINOYE ABDULWAHAB
The study investigated the management practices employed in fish farming and the constraints militating against effective fish production in Ilorin Metropolis, Kwara State. Structured questionnaire was used to elicit information from one hundred and twenty fish farmers that were randomly selected from two fish farmers association existing in the area. Data obtained were analyzed using descriptive (frequency, percentages and mean scores) and inferential (Pearson product moment correlation) statistics. Findings from the study showed that respondents had average age of 46.23 years, 82.8% indicated different levels of formal education while more than 2/3rd of them had between 1 to 20 years of fish farming experience. Information was mostly needed in fish marketing strategy. Respondents indicated lack of sufficient capital as a major challenge in fish farming. Correlation analysis revealed significant relationship between age (r = -0.821, p = 0.001); educational level (r = -0.718, p = 0....
Marketing plays animportant role in a market economy. The role of marketing as an incentive to fish production and productivity cannot be over emphasized. According to Chikwenwu (2005), the marketing of agricultural commodities in Nigeria involves various markets or exchange points.It is important to know that the lesser familiar a species is, the greater the risk that it will be rejected or take a long way to build up demand for it, people's taste are formed slowly and strongly influenced by traditional eating habits.In this research, the significance of this study is to bring together the various ways and facts as regards to subject matter, constraints to marketing fish and fish product by farmers in Obasanjo Farms Nigeria.The study was conducted in Obasanjo farm Local Government Area of Ogun State, Nigeria. A multi-stage sampling technique was employed in selecting respondents for the study. The method that was employee selecting sampling from the population is stratified random sampling techniques, Stratified Radom sampling was employed in Obasanjo farm Ota in which (70) workers are use as the area of concentration,descriptive statistical techniques such as means, frequency distribution, and percentages were used to achieve objectives. The results shows that majority of the respondents were senior staff with 28.6% and junior staff with 28.6% and 42.8% are members of the board of directors, likewise, had an adequate knowledge of the company with 10-15years of service, having 14.3% and least was the range of 1-5 years with 14.3%, and 28.6% of the respondent strongly agreed that Fishing activities in month take up to 2-3 Months, 28.6% agrees and 21.4% disagreed. The result show that 21.4% of the respondent strongly agreed that Fish farming have access to credit facilities, 35.7% of the respondent agreed, 14.2% of the respondent disagreed and 28.5% strongly disagree.This research work had briefly carried out an economic analysis of artisanal fishing enterprise in Obasanjo farm of Ogun State and found the enterprise to be profitable.
2020, Journal of Limnology and Freshwater Fisheries Research
The study investigate the socio-economic analysis of fish farming in Yewa and Ijebu Division Area of Ogun State The study was based on primary data collected from 120 respondents in the study area. Multistage sampling techniques were used to randomly select the communities that were visited. In terms of age, evidence on shows that majority (60.0 per cent) of the sampled fish farmers, in the study area have their falling between 31 and 40 years. As much as 3.3 per cent were aged, while youths (30 years or younger) featured less prominently (11.7 per cent) among the farmers. 70.8 per cent of the fish farmers were males: it also shows that majority (92.5 per cent) of the fish farmers were married as expected. Meanwhile, results show that all the fish farmers (100.0 per cent) possess some formal education, which is predominantly at the tertiary level; Majority, 58.3% of the sampled fish farmers are also Muslim by religion with 5-10 years fish farming experience by majority. The results also show the distribution of the budgetary analysis of fish production in the study areas. It shows that the mean of the total variable cost is positively signed (N4048275.00), the mean of the gross margin is also positive (N2657463.33), total cost is (N4187853.89), total revenue is (N 1390811.66), the net income is also positively signed (N 2797042.22) while the mean of the total fixed cost is (N 139578.89). This implies that the level of profitability of fish farming in the study area is positive, since the above table shows the net income to be positively signed. Based on the findings of this study, it is recommended that: The major constraint impeding expansion of fish production in the study area was financial problem. Therefore, credit should be made available and accessible to fish farmers at low interest rate by the government and private organizations. There should be an insurance policy that would protect the farmers against mass loss as a result of disease outbreak, pollution, predation and devastating effect of flooding. Government and non-governmental organizations should educate fish farmers on management and solutions to fish farming problems by organizing seminars, conferences, workshop etc.
2022, African Journal of Agricultural Science and Food Research
This study explored the value chain for fish nutrition security in Esan West Local Government Area of Edo State. Using questionnaire, Data was sought from75 fish farmers. The data were analyzed using descriptive statistics. The results showed that more than half of the fish farmers were males accounting for (53.3%) and females (46.7%), had high level of education with 58% having obtained university degree and married 57.3%. And 72.1% of the farmers had less than 5 years’ experience. Catfish business was mainly full-time accounting for 58.7% of the farmers. Constraints faced are marketing competition, cost of transportation, time problem, and lack of modern technologies, labour scarcity and high cost of materials. It was recommended that catfish farmers should form co-operatives society to alleviate the problem of marketing competition and that of high cost of materials. Private and government organizations should encourage the youths to engage in catfish production in other to reduce labour scarcity, government and private organizations should provide modern technologies to catfish farmers to reduce time wastage and lastly, regular training programmes, workshops, seminars and other enlightenment programmes should be organized for catfish farmers to equip them with the techniques needed in catfish production.
Ogheneughwe G Akise
The study analysed the economics of fish farming in selected local government areas of Taraba state, Nigeria. The specific objectives were to: describe the socioeconomic characteristics of fish farmers in the study area; estimate the cost and returns of fish farming in the study area; determine the relationship between input and output in fish farming in the study area; and identify the constraints faced by fish farmers in the study area. It utilized mainly primary data. For the purpose of this study, well-structured questionnaires were used to collect information from 80 fish farmers in the study area. Descriptive statistics as well as inferential statistics such as multiple regression and budgetary analysis were used to analyse collected data. It was observed that average output of fish was 992.15 kilograms. The double-log functional form of regression was chosen as the lead equation, showing that the output of fish farming is positively associated with pond size and educational l...
Muh. Sulaiman Dadiono
Journal of Aquaculture and Fish Health
This study aims to determine the feasibility of freshwater fish farming as an effort to support the minapolitan area of the Banyumas Regency. The research was carried out in Karang Lewas District. Data collection was carried out proportionally by interviewing the fish farmers of each fish farming group. Data analysis on the feasibility of fish farming was performed using the B/C ratio, PP, and BEP (Break-Even Point) criteria. The analysis method of the business feasibility was an analysis of business costs and income. Results of the analysis of B/C ratio value in fish farming was 1.13 to 1.69, BEP calculation used data according to the respondents, while the Payback Period (PP) of the fish farming ranged between 1.00-1.49 meaning that the capital return in less than 5 years. Those values state that the activities of freshwater fish farming have a capital return of more or less over 1 - 1.5 years. It shows that the business of freshwater fish farming in both hatcheries and fish reari...
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Fish Farming (Aquaculture)
This Business plan for Fish farming in Nigeria is regularly updated and can also be used to obtain loans and grants etc.
Fish farming is a very profitable business; it is also simple and can be started with small capital.
Lots of Nigerian Youths don’t know that fish farming in Nigeria untapped and could change their lives economically if they decide to get into the fish farming business here in Nigeria
Anyone with a small space and can find a market within a locality can engage in fish farming. In fact, with as little as $500 you can start fish farming. In this Fish Farming business plan, we shall discuss how you can successfully set up a fish farming business.
Fish Farming Business Plan In Nigeria –
Table of Contents
To enable interested investors and business-minded persons to take advantage of the money-making opportunities in the Fish Farming business in Nigeria , we at NaijaCEO have packaged a comprehensive Business Plan for Fish Farming in Nigeria
1. EXECUTIVE SUMMARY 2. INDUSTRY 3. COMPANY DESCRIPTION 4. MARKET ANALYSIS 5. ECONOMICS OF THE BUSINESS 6. MARKET PLAN 7. DESIGN AND DEVELOPMENT PLAN 8. OPERATIONS PLAN 9. MANAGEMENT TEAM AND COMPANY STRUCTURE 10. FINANCIAL PROJECTIONS 11. GROUP MEMBERS
Liaoncem catfish business will be established to meet the fish demand in the community. It will be located in Owerri Imo state. The main economic significance of the business is to contribute towards narrowing down the fish demand-supply gap deficit in Nigeria as well as the supply of proteins and micronutrients for feeding the teeming population Imo State, South East and Nigeria at large.
The business would be managed by Micah Erumaka, Hezron and Valio Jacob who are all part of the management team. They are all experienced in the field of fish farming and have managed different businesses across the state.
The catfish industry in Nigeria and Africa at Large in untapped and the fish farming business is a lucrative business as the demand for fish in the country is growing geometrically, the opportunity to expand is necessary because of the growing demand for fish and due to some health benefits attached to the consumption of fish as compared to consumption of meat. With our dominance, and being the only and pioneering fish farm in this locality, we would flood the whole market with our fish. The business will be a partnership with all partners required to contribute capital according to an agreed percentage (40%, 35%, 25%) respectively.
The risk of the business is mainly getting a market and we have already identified our target market. The cost-benefit analysis of this fish farming business plan shows that in the startup year, with 1700 fingerlings in stock and projected sales of 1500 adult fish in one circle which is half a year, we would make N1, 000,000. This implies that about N2,000,000 is realizable annually for two (2) production cycles with a return on investment (ROI) of 100% which indicates that the project is very much feasible, viable and very much profitable and as such worth investing.
ABOUT THE FISH INDUSTRY IN NIGERIA.
The fish industry involves the cultivation and marketing of fish in a controlled environment for all or part of their life cycle. The catfish industry in Nigeria is one of the fast-growing segments of the agriculture fish market today. The growth potential for the catfish market is at its strongest level ever. The demand for catfish is increasing due to the ever-increasing health consciousness of consumers. Per capita consumption of fish in Nigeria has increased at a very high level. These increases in demand are stressing the world’s natural fisheries, which are generally considered to be at or near their maximum sustainable yield, thus increasing the demand for the catfish raised in aquaculture facilities. Not to mention the increasing demand in our society for locally grown products.
GROWTH RATE, INDUSTRY SIZE, OPPORTUNITY AND SALES PROJECTION:
The demand for fish according to the federal ministry of agriculture was 9.1 million tons in 2015while domestic production was 3.5 million tons. The Nigerian Federal Ministry of Agriculture estimates that the demand for fish in the nation is projected to grow from its current demand by 30%.
This deficit was partly augmented by the massive importation of fish of about 1,200,000 tons. This is a big drawback of our scarce foreign exchange. This still left a huge deficit of 4,400,000 tons, hence the concerted effort to ensure self-sufficiency in fish production through aquaculture in Nigeria.
The demand for Fish in the country is currently estimated at about 11,830,000 million tons annually, as against the local annual production of just 3,500,000 metric tons, giving a demand-supply gap of about 8,330,000 million tons. It is very clear that the demand is far higher than the supply.
HISTORY OF THE COMPANY
The company is a new company which was recently incorporated.The idea for this Business Plan for Fish Farming in Nigeria emanated from the intent to make investors see the untapped opportunity in Nigeria, But the idea to venture into fish farming (Catfish) came from the urge to fill the demand for fish in this environment.
To provide healthy fish of high nutritional value and affordable prices that improve people’s lives while improving the lives and livelihood of African populace.
PRODUCTS AND SERVICES
Production of catfish is one business that demands care and expertise, the main expenditure in the production cycle is the fish feed and the staff salary. It takes a life cycle of about six months to get to maturity when feeding adequately.
Catfish is an indigenous spice. As a result of the growing cost of buying meat, this has created much demand for fish. This is the market we intend to fill by taking our product (Catfish) to the market.
Catfish species we would offer: Clariasnigro-digitatus Heteroclarias Clariasgariepinus Heterobranchusbidorsalis Heterobranchussp Clariasspp
How To Go Into Fish Farming Business In Nigeria
- Step one: Come Up With a Fish Farming Business Plan in Nigeria doc, a vital step .
Here, one has to determine whether one wants to go into a big or small-scale commercial venture, secondly, the pond system to adopt, Re-circulatory system, earthen pond or concrete/plastic pond or both. Then come up with a comprehensive Fish Farming Business plan In Nigeria doc (document).
- Step two: Land: Acquire land in a suitable location. However, give consideration to the land’s closeness to market, access to good roads and cheap labour.
- Step Three: Water supply Source for your Fish Farming Business In Nigeria
The provision of a good and dependable water supply is a crucial factor to consider when starting a fish farm business. To cut costs, you can situate your pond near a tap or stream or consider digging a borehole. It’s advised to ensure that clean water is available all the time because fish depends on water for all their needs.
The best water for fish farming is from boreholes. One or two must be sunk to guarantee a steady water supply. The water system must not fail.
- Step Four: Construction of pond :
The next step is to either construct a concrete pond or create a pond using plastic or tarpaulin pond types. If you want to start with a concrete pond, hire the service of a professional. However, with the plastic or tarpaulin pond types, you can be flexible as construction is pretty straightforward. In terms of cost, the concrete pond is much expensive than other pond types.
For example, to construct a 17 x 15ft concrete pond on a quarter plot of land usually costs between N100,000 to N300,000. An entrepreneur planning to start a small scale fish business on a tight budget can opt for either plastic tanks or tarpaulin pond types. Tarpaulin/plastic pond types are not only less expensive, they are also easily movable. Typically, tarpaulin ponds of size 17 x 15ft would cost between N70,000 to N90,000. These prices however vary based on the buyer’s pricing capabilities and the quality of the tarpaulin.
Here Are Details Of Catfish Farming In Fish Farming Business Plan In Nigeria
1. Stable supply and Demand
As one of the highest sources of protein, catfish is widely consumed by Nigerians on a somewhat large scale. This means that demand for this product is mainly stable all year round and since fishes grow rapidly, there will always be enough to supply. Investing in fish farming will definitely incur large and stable stream of profits over time.
2. Top consumer choice
CatFish is relatively cheaper than most meat products and hence, it sells faster. It is therefore an attractive venture as it remains the top choice for consumers in terms of affordability.
3. Steady Growth pattern
The growth pattern in fish is very fast and easy to understand. Farmers can also quicken the growth process of the fishes by giving them certain growth-enhancing feeds. This characteristic of fish ensures that farmers can harvest and sell in a very short period of time.
4. High Revenue
With proper planning and good management, fish farming can be very profitable to farmers. With N 2 million as capital or investment, one could gain up to N 3 million worth of profit in just six months.
5. Easy to maintain
With adequate knowledge, expertise and resources, fishes can be very easy to handle and maintain.
Without a doubt, fish farming is one of the most lucrative agricultural business ventures. With a brilliant business plan and the much-needed resources and expertise, one can easily obtain great success through fish farming.
Ready To Start Your Fish Farming Business In Nigeria Or Africa?
Maybe you dream of opening your own Fish Farming Business , but you’re still working out the details on how to make that dream a reality. Well we are the leading Business consulting firm in Nigeria and can help you make the process much easier contact us with 08122230861
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About Micah Erumaka
Micah Erumaka is the Founder of LiaonCEM solutions which owns NaijaCEO. He is an Internet Entrepreneur and a content creator. After the failure of his first company at age 18 he started NaijaCEO to help entrepreneurs with the information they need in operating a successful business in Africa
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