Executive Summary

Fish is the cheapest source of animal protein and because of its low cholesterol level it is
medically recommended as a good food for both the young and elderly.
Fish farming in Nigeria is currently a very lucrative business and this is boosted by the
continuous rise in the demand for Catfish.

Fish farming consists of two major subdivisions, which could either be operated
separately or as an integrated process. The two subdivisions are the nursery and the
grow-out pond operation. The nursery operation is the basis for the grow-out operation
and as such it cannot be operated without the nursery.

The demand for Fish in the country is currently estimated at about 2.66 million tons
annually, as against the local annual production of just 780,000 metric tons, giving a
demand-supply gap of about 1.8 million tons. It is very clear that the demand is far
higher than supply.

The deficit was partly augmented by massive importation of fish of about 900,000 tons
valued at over $800 million dollars. This is a big drawback on our scarce foreign
exchange. Hence, the concerted effort to ensure self-sufficiency in fish production
through aquaculture in Nigeria.
According to the Norwegian Ambassador to Nigeria, “Nigeria imports fish especially
stock fish from Norway, worth over N109.2 billion Naira ($700million dollars)
annually”.

Aquaculture has been estimated to have the potential of producing 2.5 million tons,
which if fully harnessed will almost satisfy the local demand for fish in the country.

This Catfish farming project involves starting a small scale catfish farm in any big city of
Nigeria which will produce premium quality catfish to be sold in the local market,
competing with a few existing brands. The farm will be equipped with modern
equipment & technology in order to ensure the quality of the final products.

The SWOT analysis showed that the opportunities of the business outweigh the
challenges and was concluded that catfish farming idea is healthy and feasible in Nigeria

For consultation & inquiries : 08077918755

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1.0 Project Brief

The objective of this document is to provide information regarding investment
opportunity for starting a fish farm in any big city in Nigeria.

The farm would have the capacity of producing 2,000 fishes of 1kg weight every six
months. This project will require both skilled and unskilled labour.

1.1 Proposed Business Legal Status

The legal status of business tends to play an important role in any setup; the proposed
fish farm is assumed to operate on as a business enterprise

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1.2 Opportunity Rationale

 The scarcity of foreign exchange and its concomitant effects on fish importation
is apt to aggravate the insufficient supply situation and readily lends credence to
the proposed project.
 The need for modern commercial fish farming and integrated farming methods.
 The advancement in technology has helped improved process and also reduce the
risk.
 It’s an opportunity for small investors to earn slow but steady profit
 It can serve as a part time venture as it requires less time compare to other
livestock farming.
 The demand for fish is higher than the supplies as such the market potential of
fish is inexhaustible both locally and internationally.

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1.3 Proposed Capacity

The capacity selection is a critical matter that should be decided through market
research. In this pre-feasibility study, the capacity is a target of 2,000 pieces of 1kg
catfish each production cycle.

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weezeffizy:
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1.4 Break-Down Capital expenses

Startup Capex

No Item Cost (N) Description
1 Concrete pond
construction
200,000
2 Bore hole 150,000
3 Bowl & Plastic 2,000
4 weighing balance 5,000
5 Dragnet & Mosquito
net
5,000
6 pH meter 10,000
7 Hand gloves & towel 2,000
8 Other farm kit 10,000
11 Other Capex 20,000
Total
404,000.00

Is this for one concrete pond and what about d expected cash inflow analysis?

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What size pond will the 200k build.And also include plumbing and water tanks.

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Break-Down Operating expenses

Start-up Opex & Opening stock

No Item Cost (N) Description
1 Salaries
70,000.00
2 Vaccination
15,000.00
3 land lease
100,000.00
4 Fingerlings
31,500.00
8 Feeds
250,000.00
Total
466,500.00

Cost of Project
870,500.00

1.5 PROJECT TIMELINES

Specific time is set for each phase of production of one batch of high breed catfish. The
period of 5 to 6 months has been recommended for harvesting one batch of high breed
catfish, at the end of the 6th months care are taken to remove adults.

2.0 Market

2.1 Fish Supply And Demand in Nigeria

Fish constitutes about 41% of the total animal protein intake by the average Nigerian
hence there is great demand for fish in the country. Nigeria requires about 2.66 million
metric tons of fish annually to satisfy the dietary requirement of its citizens (150
Million). Regrettably, the total aggregate domestic fish supply from all sources (capture
and culture fisheries) is less than 0.7 million metric tons per annum. Nigeria has to
import about 0.7 million metric tons of fish valued at about $500 million annually to
augment the shortfall. This massive importation of frozen fish in the country has ranked
Nigeria the largest importer of frozen fish in Africa The huge sum of money spent by
Nigeria annually in fish importation could be used to invest in fish farming. Nigeria can
substitute fish importation with domestic production to create jobs, reduce poverty in
rural areas where 70% of the population lives and ease the balance of payments.

A review of the various food production systems reveals aquaculture (fish farming) as an
important strategy in the global fight against hunger, malnutrition and poverty,
particularly in the developing nations including Nigeria. Aquaculture is considered as
the provider of the direly needed high quality animal protein and other essential
micronutrients because of its affordability to the poorer segments of the community in
addition to the provision of employment opportunities and cash income.

The Food and Agriculture Organization of the United Nations (FAO) classified aquaculture as the
World’s fastest growing food production sector for nearly two decades globally; the
sector has shown an overall average growth rate of 11.0% per year since 1984, compared
with 3.1% for terrestrial farm animal meat production. Nigeria has the capacity to attain
the desired fish self‐sufficiency within a short of time if the numerous aquaculture
potentials (land 1.7 million Ha and water, 14 million ha) , which abound the nation is
adequately utilize . These potentials are estimated at about 2.5 million metric tons of
fish annually.

FISH SUPPLY – DEMAND PROJECTION IN NIGERIA (2000 – 2015)

Year Population
consumption
Demand
(Tons) Production
(Million)
(Kg)
(Tons)
2000 114.4 13.5 1,430,000 467,098
2001 117.6 13.5 1,470,000 480,164
2002 121.0 13.5 1,512,500 507,928
2003 124.4 13.5 1,555,000 522,627
2004 128.0 13.5 1,600,000 536,918
2005 131.5 13.5 1,643,750 552,433
2006 135.3 13.5 1,691,250 567,949
2007 139.1 13.5 1,738,750 583,872

2008 143.0 13.5
1,787,500
600,613

2009 147.1 13.5 1,838,750 617,353
2010 151.2 13.5 1,890,000 634,560
2011 155.5 13.5 1,943,750 652,606
2012 160.0 13.5 2,000,000 671,492
2013 164.4 13.5 2,055,000 689,958
2014
169 .1 13 .5 2 ,113 ,750 709 ,683
2015 174.0 13.5 2,175,000 730,248

2.2Target Market

 Local market
 Supermarkets & stores
 Export market
 Eateries
 Restaurants
 Bars & Relaxation spots
 Hotels & club houses

3.0 Production Process

3.1 Selection of Fish Species

Although a large number of fish species grow successfully in fishponds only a restricted
number are usually recommended for culture in ponds. Therefore, fish species
exhibiting some of the following characteristics are usually selected for stocking in
ponds:

 Adaptability to the environment
 Faster growth rate
 Efficient converter and utilization of both natural and artificial fish feed.
 Hardy and can tolerate adverse environmental fluctuations
 Resistance to diseases
 Palatable with high nutritive value
 Acceptability to the local community
 Is of high demand in the market and
 Has high market price

3.2 Breeding Process

 Acquire a stretch of farmland large enough to hold suitable catfish ponds. You
can grow catfish successfully in ponds as small as a plot.
 Provide an adequate supply of water. E.g. Borehole
 Aerate and heat your pond. There are pump, propeller and paddlewheel aerators
that stir the water and circulate dissolved oxygen for your channel cats to
breathe.
 Stock your pond with fingerlings, baby catfish about 4 to 6 inches long. It's
common for catfish farms to stock ponds to a level of 1,500 fish per acre, but
fewer fish will need less dissolved oxygen. With a smaller than maximum
population, you save yourself the cost of aerating the ponds.
 Feed your fish every day, letting them have everything they can eat for 20 to 25
minutes. Food pellets should contain all the vitamins and minerals necessary for
health, and consist of around 32 percent protein, though 36 percent protein levels
in the first month will boost fingerling growth.
 Gather some breeding-age catfish and place them in a separate pond to spawn.
Select two males for every three females
 Add spawning containers to your pond. The containers can be ceramic pipe,
metal cans, kegs or plastic barrels, as long as they're large enough that a male and
female catfish can both go inside to breed.

How much will be made from such investment?

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