Feasibility Study On Fishery Farming, Using Itoikin Area In Ogun State Nigeria As A Case Study

Feasibility Study On Fishery Farming, Using Itoikin Area In Ogun State Nigeria As A Case Study

Feasibility study on fishery farming business, using ito-ikin area on 1plots of land acquired as a case study. Farming business is a lucrative business and also an important sector of the economy that can provide significant, economic, and social impact which will affect the general public positively, both in food provision, skill acquisition, employment opportunities and many more…..

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After carrying out the feasibility study on itoikin area, it was discovered that farming generally will do well both on crop and animal
production.

One the issue of owning and running the fish farm business on 1plots of land in the study areas, It will take about N22, 734,325 to construct and run the farm from the farm plan. Due to low investment capital of 17million Naira, we applied selective measure of N18, 792,580, and we got four hatchery unity, four holding tank, five concrete and two earthen ponds, including cost of
running the farm.

There are so many dispatch/selling sources through which the product can be dispatch/sold,
these ranges from several markets, 5-stars hotels, 3-Star hotels, grade hotels
in these three study areas, coupled with other smaller hotels, spotlights,
bars, several tourist attractions center, bakeries, event planners, families
and nearby towns who will be the customers and final consumers of the product
been produce.
Investing N18, 792,580, on fishery business on 1plots of land is a very
lucrative one. Using profitability index to determine how lucrative the
business is, we got a viable result of 1.70% returns on business in the next
four year. That tells us that, after four years time, the businesses will
break-even and your profit projection will emerge. (That means; the business as
been able to pay back its initial investment and still have enough money to run
its affairs successfully without any help from any source).
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Similarly, it shows how much it will cost you to own your desired business, what your money can afford. The kinds of product you will need to minimize input in other to maximize output. Likewise, how much returns you will get at the end of each accounting year until your business break-even on its initial investment capital. Lastly, this will give the intending business person or investor or farmer, a vivid idea on the possible benefit he or she stands to gain, when he or she starts doing the business. However, the intending business person or investor or farmer will not need a soothsayer to make decision for him or her.

 

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