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 snail farming. 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 By product
There is no by-product in 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.
TYPES OF FISH YOU CAN FARM
Haven seen the benefits as well as the risks involved in fish farming, let’s now proceed to decide which species of fish we want to farm. Below are some of the most popular fish species that are suitable for Aquaculture.
1. Cat Fish –
Even though Catfish is not the most popular fish in Nigeria, this fish species is by far the most cultivated in Nigeria. One thing good about catfish is that it is one of the easiest fish species to cultivate. So, people naturally flow in the direction of fish species they found to be the easiest to cultivate.
2. Tilapia –
The second most popular fish in Nigeria’s aquaculture industry, Tilapia is a fish species that lives in fresh shallow water. Tilapia is very easy to cultivate and very popular in the Nigerian market, it reproduces very rapidly and grows fast too.
3. Mackerel (Titus) –
This is by far the most popular fish in the Nigerian market but so sad it’s not farmed. All Mackerel Fish are “wild-caught” but some farmer in Nigeria is considering the possibility of creating artificial salty water that will be similar to seawater where mackerel can only survive. Can this deep blue sea fish species be cultivated artificially? Only time will tell but for now, you have to focus your attention on Catfish and Tilapia.