Fish Farming in Nigeria; 10 tips to make money from it

Fish Farming in Nigeria is a very lucrative business. many fish farmers in the country are making big money every month from sales of fish and fingerlings.

In this post, I will give you working tips on how to make money from fish farming in Nigeria. Do you want to make money from fish farming? If yes, read this post.

1. Raise Tilapia / Other Types Of Fish

To raise tilapia, as well as other type of fishes can earn you a very huge income, as fish farming is highly profitable business.

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Now, if your desire is to raise tilapia fish, then you have to make sure that the area in which you want to raise tilapia has a water temperature that is, at least 20″C which is about 68″F.

And supposed the temperature of your area is lower than 20″C,  then you have to make sure that you heat the water.

Please note that if you allow your fish to grow within the temperature that is cooler than the prescribed temperature, though your fish will survive, their growth rate is likely to be slower.

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2. Know Your Fish Market / Buyers

You should never wait for your fishes to grow and mature before you begin to search for the market and the buyers, if you actually want to make money from your fish farming.

I have discovered one biggest mistake that fish farmers make, they will only begin to look for buyers immediately their produce are ready to be sold.

3. Go Into Private Fishing Lakes

Supposed, in your area, you have lakes or even when you do not have lakes, you can even dig them. Developing public fishing lakes is quite a lucrative business in this part of the world.

You should know that, they are about two types of fishing lakes: The first type is called, ‘catch and release’, and this is basically for the fish enjoyment.

In this case, your customer will have to pay and then enter even if they want to stay all day. While the other type is called, ‘fish and pay’. Once the fish is catched, it is then weighed before payment.

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4. Endeavour To Keep Record Of Production

As a fish farmer, you want to make money from your fish farming, then you have to make sure that, you keep record of your fish production, and as well, analyse all the written records of your production, and the costs, as well as, the returns.

As we know, those information from farm’s records are what forms the basis for making good management decisions in your farm. These farm’s records are the major element to managing your farm to profit.

5. Know Your Fish Market / Buyers

You should never wait for your fishes to grow and mature before you begin to search for the market and the buyers, if you actually want to make money from your fish farming.

I have discovered one biggest mistake that fish farmers make, they will only begin to look for buyers immediately their produce are ready to be sold.

6. Feed Your Fishes Adequately

You must properly feed you fish, if you actually want to make money from it. Note, the longer your fishes remained in the pond once they have stopped growing, the smaller your profit margin will be. So spend more money to feed your fish in order for them not to  lose weight otherwise, it will affect sale price.

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7. Know That Market Is Your Profit Determinant

Know that the market usually remained the driving force when it comes to commercial fish farming.  Make sure you identify your potential market, and be sure you can sell there profitably.

For instance, know that, the price of fish you produced, and the quantity of fish you produced each time, as well as, how frequently you can sell your produce, are all determined by the market.

8. Sell Your Fish At Competitive Price

One of your major goals should be as a fish farmer, to sell your fish in the market at competitive prices. This will help you to make a good and reasonable profit.

And note that, the only good way to succeed, as well as, double your profit potential is to directly sell your fish to your consumers.

9. Make Good Decision For Your Fish Farm

You should make some decisions as a fish farmer basically on the physical and the financial resources that are available to you.

For instance, you have to consider the number of ponds you are to have so as to meet market target. And you must take into account the size of your ponds, and the design of the pond, etc

10. Adopt Good Management For Timely Harvest

You have to adopt good management for timely harvest of your farm produce. Know your production cycle, know the size of your production each time, make sure you meet your customers’ needs, and never forget to partner other farmers for the purpose of meeting market demand.

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Conclusion

Fish, as we all know, is for the most part, an alternative to meat. And accordingly, quite a number of individuals have rather opted for a healthier alternative to pork meat, and beef, and turkey as well as, chicken, and this is considered as being a result of the increasing concern for nutritious food in most of our kitchen.

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