Agriculture was the main source of generating revenue before oil was discovered in Nigeria. Then, the country was into different types of agriculture, ranging from crop farming to peasant farming and plantation agriculture to mention but a few.
As soon as oil was discovered, Nigeria abandoned agriculture, and today we are beginning to realise the importance of agriculture to a growing economy of Africa especially Nigeria. Today leadership in Nigeria is battling with high rate of unemployment because agriculture which provides a lot of employment and reduces youth upheavals, crime and insecurity in a society was left for oil and presently oil can no longer sustain the country.
According to the Managing Director/CEO, Jovana Farms, Prince Arinze Onebunne, “Inspite the challenges in the industry, fish farming in Nigeria is a very lucrative and dynamic business that Nigerians can venture into. Arinze who is a chief consultant in fishery industry, has won several awards and laurels both at home and abroad, and has toured various countries and states in Nigeria searching and researching latest techniques and innovations in fish farming business since inception of Jovana Farms. He also has impacted on the economy of the country through knowledge sharing in the industry to empower up coming operators and Nigerians interested in fish farming.
Speaking from experience, Arinze said that one of the challenges is that farmers receive little or no help from the government, following the cost of fish meals being on the high side. There is also the challenge of power supply where people spend much on diesel to power generators and in most cases dug borehole in their farms to enable them get enough water for the business. That is why farmers are not meeting the demand for fish consumption and the country spend much on imported fishes. He said also that investing in wrong fish is also another problem that farmers face. Overseas government subsidises a lot of things for them as a way of encouragement and farmers get their fish meal from the right source but here we get them from importers who are profit conscious. That is why in Nigeria, it takes over N450 to feed a fish to maturity while in Europe it takes only N100.
Modern fish farming business
The fish farming business is very lucrative if you are determined and can also employ the modern equipment in the business.
Fish farming is a very dynamic kind of business. It is a business with new innovations almost on a daily basis.