Monday, March 19, 2012

Fish Farming In Nigeria

If you have a product to sell you want to go where the buyers are.

The fact that Nigeria is the largest importer of frozen seafood in the world shows there is a ready market for fish farmers

What more does an investor want … than where there is a ready market that is willing and has the capacity to pay

Nigeria imports over 7 million tonnes of seafood every single year
Lagos State alone is ecologically equipped with land mass, 22 percent of which is covered by water, which includes streams, creeks, rivers, lagoons and swamps delineated in the south by 180 km coastline.

These natural endowments make the state rich in species diversity with great potential for fish farming and ecotourism.

There are some major constraints facing fish farming in the country which could easily be overcome in my view.

Some of the current constraints affecting the fish farming industry in Nigeria include:

  • insufficient production of fingerlings,
  • lack of sufficient and least cost effective fish feeds,
  • and high cost of earth moving equipment for pond construction

Watch the video below and see how Lagos State tries to address the problem…
Notwithstanding…still a perfect opportunity for fish farming investors who know what they are doing to make money.

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