Catfish are the fastest-growing species in Africa. You can see these fish growing and multiplying in rivers, lakes, and catfish farms. In terms of African catfish farming, it is the most suitable species for farming in Nigeria and other African countries such as Ghana, Kenya, Uganda, Cameroon, South Africa, Malawi, Rwanda, Togo, Zimbabwe, etc.
Nigeria is the largest catfish producer. As Nigeria’s population grows, so does the demand for catfish. While the Nigerian aquaculture industry has brought a market system, the industry still needs potential farmers to fill the gaps to increase productivity and supply. Most importantly, Nigeria’s fish farming is a profitable business.
Assuming the fish are well raised and have a very low mortality rate, around 5%, this means that of the 500 fish you start raising, only 25 die in the process. You can expect each of the 475 surviving fish to grow to a minimum (1kg each) for a total weight of 475kg. The current market price for 1 kg of fish is N800, so you can generate sales of N380, 000 (475 X N800).
You can smoke the catfish yourself and sell it to individuals or supermarkets to increase the profitability of your catfish farming. You can also export smoked catfish to Canada, the US, Australia, and more. This catfish is more expensive in the market, but you have to pay someone to smoke it for you or buy professional equipment and do it yourself. Most of the funds you build for catfish farming are fixed assets in nature, but their cost will be recovered through a variety of production methods.
1) Over 60% of the meat produced in Nigeria comes from the fishing industry, making it by far the most popular animal product on the market.
2) Fish is a protein-rich food, it is a low-fat, high-quality protein that is also rich in omega-3 fatty acids and vitamins D and B2 (riboflavin). In addition to being an excellent source of minerals such as iron, zinc, iodine, magnesium, and potassium, fish is also very high in calcium and phosphorus.
3) In terms of price, fish is the best option as it sells faster than any other animal product on the market and is generally cheaper than meat.
4) Fish grow very fast because the market allows farmers to speed up their growth by feeding them certain feeds, ensuring they can harvest and sell farmed fish quickly.
5) Fish is a major source of Omega-3 fatty acids, which are very good for the human heart and keep our heart and brain in good condition. Since the human body cannot produce omega-3 fatty acids, fish can come to the rescue, and the only way we can get them is through our diet.
6) Aquaculture is very profitable. In six months, a 3 million naira investment in fish farming could easily yield a 4 million naira net profit with careful planning and management.
7) Fish farms have no particularly large environmental risks. In contrast to poultry farms, fish farms can be established anywhere, including in residential areas. If you own a large property, you can build a small fish farm in your backyard without special permission.