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Fish Pro

Fish farming, particularly catfish farming, is rapidly growing in Nigeria due to increasing demand for fish products and government policies that limit frozen food imports. This sector presents opportunities for economic development, food security, and job creation, as traditional fishing methods are insufficient to meet the rising demand. Investors are being encouraged to capitalize on this trend by establishing catfish farms, with projections for significant profits over a five-year cycle.

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sampson unah
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5 views2 pages

Fish Pro

Fish farming, particularly catfish farming, is rapidly growing in Nigeria due to increasing demand for fish products and government policies that limit frozen food imports. This sector presents opportunities for economic development, food security, and job creation, as traditional fishing methods are insufficient to meet the rising demand. Investors are being encouraged to capitalize on this trend by establishing catfish farms, with projections for significant profits over a five-year cycle.

Uploaded by

sampson unah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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INTRODUCTION

Fish farming has been prevalent for decades in Nigeria as a business. it has enjoyed a substantial
increase in its market share and notable popularity majorly due to the increase in demand for its
products. It is the fastest-growing farming business in Nigeria.

Fish farming is a form of aquaculture which involves the breeding and rearing of fishes for
commercial purposes using artificial means. The fish farming business in Nigeria thrives mostly
in the Southern and the North Central parts of the country.

Fish farming, also known as aquaculture, is a rapidly growing sector in Nigeria, particularly in
Abuja, the capital city. This industry has gained significant attention due to its potential to
enhance food security, create employment opportunities, and contribute to economic
development.

Nigeria has a rich history of fishing, but the increasing demand for fish due to population growth
has made traditional fishing methods insufficient. Fish farming has emerged as a sustainable
solution to bridge the gap between demand and supply. The country's vast water resources,
favorable climate, and government support make it an ideal location for aquaculture.

A proven and reliable source of protein is fish. Nutritionally, fish is regarded as the “best
protein”, because it contains all the essential amino acids needed by man and has very high
digestibility as compared to all other protein sources. Nigeria, import fish annually on fish
importation yet there is still a huge gap between the demand and supply of fish in Nigeria. On
the other hand, Nigeria is ranked high among countries with very high level of unemployment
and studies has shown that fish farming has the potentials for solving unemployment crisis. Here,
in Nigeria, there is high demand for fish and low supplies of fish for companies, individual
households, market women and the general public.
EXECUTIVE SUMMARY

The current trend of fish farming in Nigeria has left many investors rushing into investing in fish

farming, particularly the farming of the catfish species. The choice of this species by most

farmers is based on its ability to withstand adverse environmental condition, ease of culture and

the relative acceptability in the market.

Over the years the demand for animal protein, particularly that from fish has been on the rise and

recent trends on the fisheries of Nigeria have shown that this demand has not been met by the

current players in the industry leaving a demand and supply gap. This demand on the domestic

products of fisheries has also received a boost from the current federal government policy on the

ban of frozen food which has left the large population of Nigeria clamoring for the limited

fisheries of Nigeria. The resultant effect of this is that many investors who have been able to

identify the opportunity created by this action of the government are now rushing into investing

in the industry and it on this note that we FARM have resolved to create this platform for

investors to come and invest money into producing catfish to table size for commercial purposes.

Having carried out all the needed survey on the cost of production the farm has come up with a

total of N as the cost of setting up the farm and carrying out operation, of the farm for the first

growing cycle a period of five years with a capacity of ten thousand (10,000) catfish to table

size which is expected to yield a total outcome of N at the first cycle (total sale) and profit of N.

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