1. Fish is Popular
Fishery products are by far the most popular animal products in the market, constituting more than 60% of meat products in the Nigerian market.
2. Fish is Source of Protein
Fish is one of the highest sources of protein. It is a low-fat high-quality protein that is filled with omega-3 fatty acids and vitamins such as D and B2 (riboflavin). Fish is also very rich in calcium and phosphorus and is equally a great source of minerals, such as iron, zinc, iodine, magnesium, and potassium.
3. Fish Sells Quick
Fish sells faster than any other animal products in the market and is relatively cheaper than meats, making it the number one choice when it comes to affordability.
4. Fish Matures Quickly
Fish grows very fast as practices in fish farming make it possible for farmers to increase the fastness of their fish growth by giving them certain feeds, ensuring that you harvest and sell within the short period of time.
5. Fish Contains Omega-3
Fish is the biggest source of Omega-3 fatty acids which is extremely beneficial to a human heart; Omega-3 helps to keep our heart and brain very healthy. Since the human body doesn’t produce Omega-3 fatty acids, the only source through which we can get it is by what we eat, that is where fish comes to the rescue.
6. Fish Farming is Profitable
Fish farming is very profitable. With proper planning and good management, N3 million investment in fish farming could easily result in N4 million of pure profit within six months.
7. No Environmental Hazard
Fish farm does not cause any environmental hazard. Unlike poultry farming, you can set up the fish farm anywhere, including residential areas. If you have a spacious compound, you can easily set up a small fish farm within your backyard without any regulatory precaution.
Risks and Challenges in Fish Farming In Nigeria
1. Sensitive to Manage
Fish is very sensitive to manage and a slight mistake could result in degenerated growth of your fish or even death which may cause massive revenue loss.
2. Capital Intensive
Setting up a fish farm is capital intensive, much more than that of poultry and Setting up a fish farm requires more careful planning and much capital input. A relatively small fish farm may take up to N500,000 to setup, while bigger ones take millions of naira.
3. Fish is Priced High
Due to the cost of production, fish produced from the farm is priced higher than those caught from the rivers and ponds by fishermen. Therefore, if there is a good quantity of fisherman’s fish in the market, you may find it difficult to sell as people would prefer the cheaper ones.
4. No Byproduct
There is no byproduct in the fishery, unlike poultry where even the drop can be harvested and sold to other farmers and make extra profit. In fishery, all you get is the flesh.
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