In a summary, the contents of this page will give a detailed analysis on the cost of starting a fish farm in Nigeria 2021.
If you wish to know how much it will cost you to start it fish farming in Nigeria, here is a cost analysis for you to walk with well making your budget.
Note: this is only a cost analysis to help you make your own budget before starting off. So, use this as a preference.
How Much Will it Cost to start a fish farm in Nigeria?
Starting a fish farm in Nigeria requires some reasonable amount of money. The amount you will need to start your own fish farming will depend on how big or small you want the farm to be.
In general term, fish farming requires adequate funding both for the start up, maintenance, medication and feeding.
The estimated cost of starting a fish farm in Nigeria from the scratch in 2021 start from Three Hundred and Fifty Thousand Naira (N350,000) to about Six Hundred Thousand Naira (N600,000) only.
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This cost depends on the available materials you have already. So if you have water source and land already, then the cost will be lesser else, it might be higher than stated above.
Also, if you want to start a mini fish farm, then the cost will be lesser than starting a mega farm. But if you are new to the business without experience, then start with a mini fish farm.
2021 Cost Analysis for Starting a Fish Farm in Nigeria
There are major expenses when it comes to starting or running a fish farm. Below are some Fish Farming project/setup cost for each of them;
- Land: land is one of the most important thing to start with. You need a better site to situate your fish farm. Land might cost you high depending on your location.
- Construction of ponds: Fish farming requires different sizes of ponds. You will need about 2 to 4 ponds to start with and each will cost you some money to construct.
- Buying or hatching fingerlings: fingerlings are those small fishes (about one to 2 weeks old) needed for the breeding. See the price of fingerlings in Nigeria here.
- Feeding: feeding is a major and recurring expenses in fish farming. You will have to spend money on buying feeds for your fishes. See the price of fish feeds in Nigeria 2021 here.
- Plumbing: a good fish farm must have ponds that has good plumbing construction for easily pumping water in and out of the ponds (inlet and outlet facility).
- Watering: water is a very important substance in fish farming. No fish farming can do better without having a good source of water supply.
As such, you will need a good water supply to the ponds for easy change of water from the ponds and that will extract a different cost.
Below are the estimated costs of all the items listed above, in a tubular format;
Tabular Presentation of Fish Farm Starting Cost.
|Item/Project||Amount in Words (Naira)||Amount in Figures (Naira)|
|Land (on lease or rent)||One Hundred and Fifty Thousand Naira||N150,000|
|Construction of ponds||One Hundred Thousand Naira||N100,000|
|Buying/hatching fingerlings||Fifteen Thousand Naira||N15,000|
|Feeding||Thirty Thousand Naira||N30,000 per month|
|Plumbing||Fifty Thousand Naira||N50,000|
|Watering/Borehole||Three Hundred Thousand Naira||N300,000|
After considering the above analysis, you will be able to make a good budget and estimate the amount of money to keep aside for the start off.
If you were interested in knowing how much it will cost you to start a fish farm in Nigeria, then I am the cost analysis above is good one to start planning with.