More On Fish Feasibility Report Business Plans Unique Writers

Similarly, it is from the tables of Dr. Amaeshi Uzoma francis (Frhd; Mnim) in collaboration with: mr. Ntegum idaw-owaji Erasmus. Furthermore, the focus location was Ataba Town, Andoni Local government area of Rivers State, Nigeria. Business Plans and Feasibility Studies goes with location. Your location can not be the same with this one. Contact us today lets carry out a Professional business plans and Feasibility Report for you.  In like manner, we will break it down for easy understanding for all.

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Executive Summary on Fish Feasibility Report

The Fish Farm Estate project is designed to meet the demands of the commercial town of Ataba in Andoni Local Government Area of Rivers State. The main economic significance of the proposed project is to narrow down the fish demand-supply gap deficit in Rivers State in Particular and Nigeria in general. It will provide alternative activities of crude oil extraction in the area, as wellas the supply of proteins and micronutrients for feeding the teaming population of Rivers state and Nigeria at large.

The fish farm estate project aims specifically at Table-fish size and Fingerlings production to boost the domestic fish supply in the country and for export purposes too. The cost benefit analysis in the work has shown that 180 tons of table fish and 2 million fingerlings are realizable in six months of production with net profit of about NGN58.32m. This implies that about NGN116.64.0m is realizable annually from two production cycles with a return on investment (ROI) of over 100% which signifies that the project is very much Feasible, Viable and Profitable. 

1.0. Introduction1.1 Feasibility study Objective on Fish Feasibility Report

1.2 Project Conceptualization Fish Feasibility Report

Fish Farming in Ataba Town, Andoni Local Government Area of Rivers
State has been conceptualized due to the activities of crude oil exploitation
and production industries which resulted into water pollution, thereby almost
making fish which is a source of livelihood go extinction in Ataba Town, Andoni
LGA and Rivers state in general. Moreover, the need to conserve foreign
exchange hitherto spent on a massive importation of frozen fish into the
country, further informed the project concept. Also the project has been
motivated by the following considerations:

• The large population growth in Rivers state, Aba the commercial city of Abia state and its neighbouring States, upsurge in economic, social and industrial development. Improved standard of living and feeding habits are clear evidence of huge demand for fish in the country.

• Reducing the pressure on foreign currency due to fish importation and its after effects on the nation’s economy.

• The growing need for the diversification of the nation’s economy from crude oil production to fish or other agricultural produce

• Changing the current practice employed by Nigerian fish farmers which is largely subsistence level to more modern commercial fish farming system, which emphasizes large units of production, labour saving, effective management of factors of production and higher output per hectare.

It is however noteworthy that the principal challenges of modern fish farming in the Nigerian context are related to changing climatic conditions, unavailability of necessary inputs, public policies on agriculture as well as security. It is important that management be constantly aware of these problems such that the fish farming system as well as operating methods are tailored to overcome those challenges, if high yields are to be achieved.

1.3 Marketing Strategy on Fish Feasibility Report

In arriving at a set of strategies for marketing of farmed fish produced by this
project, a number of strategic options were considered. It is however, our
strong view that the adoption of a well‐articulated
marketing strategy is imperative, especially in the areas of distribution,
pricing, promotion and public relations. This will definitely create a market
niche for itself. Fish is of great demand in Rivers State and other
neighbouring states especially the South-Eastern States (Edo, Bayelsa, Delta,
Akwa-Ibom, Cross-Rivers Abia, Imo, Anambra, Enugu and Ebonyi) of Nigeria; hence
markets are readily available within the project locality, neighbouring states
as well as the entire country at large.

1.4 Medium of Fish Supply

It is our utmost view that the most effective medium for marketing the fish products
is to establish a direct link with the owners of cold stores/rooms dealing with
aquatic products. Such outlets could be utilized for selling the farmed fish.
Another option is to establish link with well‐established
hotels, restaurants, schools, and guesthouses for the evacuation of the
harvested farmed fish. The third option is to sell fish directly to the local
markets. Our investigations also showed that local markets located within and
around Ataba town and its environs would be too willing to purchase fish on
daily basis. This medium should be pursued vigorously. Private individuals
should be encouraged to make small purchases from time to time. Farmed fish may
also be processed (value addition), stored and sold at convenience while brood
stock fish and fingerlings will be sold to farmers at affordable cost.

2.0. Context of the study
2.1 Market Analysis
2.1.0 Market Area Definition

Due to environmental pollutions resulting from crude oil production activities, Andoni
River and indeed other Rivers in Rivers state has diminished in the production
of fishes. Therefore the entire Andoni LGA and by extension Rivers state with
neighbouring state (Abia, Imo, Anambra, Ebonyi, Bayelsa, Delta, Akwa-Ibom,
Cross-Rivers, Edo & Enugu), will be the target market for the project.
Below is the analysis of data at the level of census agglomeration (CA), Census
Metropolitan area (CMA) or municipality of Ataba Town and its adjoined
neighbouring communities and local government areas where the project is to be
sited. The project is expected to supply fish to these neighbouring communities
in table 1 above and they serve as the primary target market of the project.
This average distance of these neighbouring communities to the site or location
of the project is approximately 20km

Table1: Targeted Primary Market and
estimated households

S/No	Neighbouring Communities	Estimated Households
1.	Oyorokoto	9,225
2	Kaa	15,540
3	Ajakajak	8,456
4	Agbakorma	3,876
5	Ama John	500
6	Isita	150
7	Isijoro	123
8	Ibotirem	6,032
9	Dema	9,287
10	Nbilaka	83
11	Iyoba	23
	Total	53,145

Source:
Author’s field Survey o Residents neighbouring communities to the project
location, 2016

Table
2: Targeted Market LGAs estimated Population
(Source: Nigeria 2006 National Population census)

S/No	Local Govt Area	Populations	Estimated Households (Ave. of  5 persons/Household)
1	Bonny	215,358	43,072
2	Khana	294,217	58,843
3	Gokhana	228,828	45,766
4	Okirika	222,026	44,405
5	Opobo/Nkoro	151,511	30,302
6	Ogu/Bolo	74,683	14,937
7	Andoni	211,009	42,202
	Total	1,297,632	279,527

Table 2
also is a target market but apparently a secondary target market, with
population size of One Million Two
Hundred & Ninety Seven Thousand, Six Hundred & Thirty Two (1,297,632).
This represents other neighbouring local government areas of Rivers state and
when production attained maximum, other LGAs and neighbouring states not listed
above will be reached out to for sales.

 2.1.1 Quantitative Research

Using the primary and secondary market target, we will be able to determine, the
population size, age, income distribution, educational attainment, marital
status. It will further show statistics of household composition and the number
of dwelling units in the market area, as well as tenure (rental or ownership)
and dwelling types (such as single-detached housing, townhouses, bungalows. All
of these in the tables below show projected demand of the products.

 

Table
3 Age, sex and Marital distribution of Targeted Market LGAs

S/No	Age Limit	Male				Female
		No	%	Single (%)	Married (%)	No	%	Single (%)	Married (%)
1	0-10	90,834	7	100	--	25,953	2	100	--
2	11-20	103,812	8	100	--	51,905	4	100	--
3	21-30	181,668	14	65	35	90,834	7	52	48
4	31-40	259,526	20	23	77	116,787	9	18	82
5	41-50	129,763	10	18	82	77,858	6	2	98
6	51-60	51,905	4	10	90	25,953	2	--	100
7	61-70	38,929	3	5	95	12,976	1	--	100
8	Ø    70	25,953	2	2	98	12,976	1	--	100
	Total	882,390	68	323	477	415,242	32	272	528

Source:
Author’s field Survey on resident of Study area LGA

 

 

Table 4 Educational Status of Targeted
Market LGAs

S/No	Institutions	Frequency	Percent
1	University	389,290	30
2	Polytechnic/Colleges of Educations	402,266	31
2	Secondary Schools	142,740	11
3	Vocational/Technical Schools	103,810	8
4	Primary School	142,740	11
5	None	116,781	9
	Total	1,297,632	100

Source:  Author’s field Survey on residents of Study
area LGA 2016

 

 

Table 5 Occupational Status of Targeted
Market in Neighbouring LGAs

S/No	Occupation of Residents	Frequency	Percentage (%)
1	Contractors	181,668	14.0
2	Clerical office/ unskilled workers	159,609	12.3
3	Technicians/Drivers	242,657	18.7
4	Trading	109,001	8.4
5	Skilled Labour	202,431	15.6
6	Farming/Fishing	32,441	2.5
7	Unemployed	369,825	28.5
	Total	1,297,632	100.0

Source;
Author’s Field Survey on Resident Target market LGAs 2016

 

 

Table 6 Percentage Distribution of Income
of Targeted Markets in Neighbouring LGAs

S/No		An 160,367	Kh 223,605	GO 173,909	OK 168,740	OB 56,759	ON 115,148	BO 163,672
1	Less than ₦50,000	8.4	7.6	4.4	5.9	6.8	8.2	6.9
2	₦50,000-99,999	9.8	8.2	8.7	6.7	7.9	8.6	7.1
3	₦100,000-149,999	8.7	9.0	9.9	8.5	8.2	9.4	8.5
4	₦150,000-199,999	8.0	9.2	10.3	10.8	9.8	10.1	8.9
5	₦200,000-249,999	10.2	11.8	11.7	10.1	10.8	10.7	9.0
6	₦250,000-299,999	10.7	12.2	13.4	10.0	11.2	11.9	13.9
7	₦300,000-349,999	12.8	11.8	10.6	13.3	12.8	12.5	14.8
8	₦350,000-399,999	14.8	13.2	14.8	16.2	15.2	13.9	15.0
9	₦400,000&Above	16.6	17.0	16.2	18.5	17.3	14.7	18.1
	Total	100.0	100.0	100.0	100.0	100.0	100.0	100.0

Source
Author’s Field Survey on Working Class of the population in Targeted Market
LGAs

 

Table 7. Statistics of Tenure of Household
Composition in Target Market LGAs

S/No	Status	Single Rooms	Single Detached	Town House	Bungalows	Duplex	Total (%)
1	Rentals	28.8	20.2	18.0	17.0	16.0	100
2	Ownership	14.6	18.2	20.4	22.8	24	100

 

2.1.2 Qualitative Research Analysis

Following the survey of the target market conducted and data collated from the
neighbouring local government areas, the following amenities shall be provided
in the Fish Farming Estate to attract households to relocate to the Estate.
They include;

1. Firstly, Installation of CCTV Camera for monitoring and surveillance.

2. Secondly, Installation of security bits within the Estate

3. Thirdly, Installation of double perimeter fence around the Estate.

4. Provision of Internet (Wi-Fi, Wireless or cable).

5. Installation of intercoms between the security bits and residential accommodation.

6. Furthermore, Provision of recreational grounds for children.

7. Establishment of Estate clubs for residents.

8. Also, Provision of swimming pool and GYM room for residents.

9. Building of schools within the Estate.

Further survey reveal that there will be a plan for residents especially those that
bought building to invest in the Fish Farming project when it comes on stream.
This will be done through the sales of shares and money realised will be used
to develop similar Estates in other local government areas of the state.

2.1.3 Market Data Analysis

The primary target market shown in Table 1 reveals the communities and the
household around the location of the Fish Farming Estate. They are just 20-40km
radius from the location and due to their desire for fish as their sources of
protein, 70% of the residents will always find themselves to the Fish Farm
Estate to purchase fish. Table 2 is the secondary target market and because of
the large population, it is a viable market for sale of products. Before crude
oil production started in these local government areas, their main occupation
was farming and fishing, but due to the effects of crude oil production activities
resulting into pollution of lands and water bodies, their occupation has
shifted from fishing and farming as shown in Table 5.

Table 3
shows that 68% of the population in the target market are male while 32% are
women. It further revealed that, the target market has high population of
labour force which fell between the age brackets of 21-50 with a total of 66%
of the population. With this figure, labour supply will be available and cheap,
since 28.5% are unemployed as shown in table 5. Therefore, it will be a viable
market for affordable labour supply for the project.

Table 4
shows that only 9% of the population didn’t receive any form of education
whereas 91% has one level of education or the other. With 30% acquiring
education to university level, meaning that the educational awareness of the
people is very high and the quest for a better and affordable standard of
living is also be high. This kind of people know the importance of fish in
their daily living and therefore will require little or no awareness campaign
to purchase fish from the Fish Farming Estate. More so when they know the
standard established by the Fish Farming Estate management and with high
educational level attainment, the project is already a success.

Furthermore, the kind of occupation and the income distribution of the target market as
shown in table 5 and 6 respectively show that the target market already has the
purchasing power for the products of the Fish Farm Estate. Contractors and
Skilled labours have a total of 29.6% of the population. This shows that most
of them work in Oil and Gas producing companies located within the area and
this can be seen to reflect in their income as shown in table 6. The level of
income has made residents to move away from rental accommodation to building of
befitting accommodation of their own as evident in table 7. The analysis above
should prove that the primary and secondary target market is a hub for business
and therefore the project and future expansion will be a success.

 2.2. Site Selection and Location Analysis

The following indices were employed by the consultants to fully
assess the project sites with the view to determining its suitability for the
purpose to which it was proposed:

• Location of the project site.

•  Topography of the entire site.

• Soil (edaphic) factors.

• Hydrology and hydrogeology. 

• Vegetation cover.

• Accessibility of the project site.

• Title of land deeds.

• Sponsors of the Project and

• The Consultants

2.2.0 Location of the Project Site

The proposed Fish Farming Estate is to be located in Island of Ataba Town, Andoni
Local Government Area of Rivers State. The site is excellent as it is very
close to the Atlantic Ocean signifying that, fish farming inputs can easily be
transported through the sea route to other neighbouring states at minimum cost.
Furthermore, harvested farm products can easily be transported to the markets
for sale at daily markets such as Kaa, Oyorokoto, and Igwenga. The site though
an island is also motor able with a connecting bridge from Kaa community in
Khana LGA, hence vehicles can easily reach the site to evacuate fish farm
products. All these factors indicate that very little transportation cost would
be incurred in evacuating the farmed products.

2.2.1 Topography of the Project Site

The topography of the proposed site is generally flat with gentle slope towards the
river making it difficult for rain to wash away any soil contaminant into the
river. This is quite suitable for establishing a fish farm with minimum
financial outlay. Generally land of this nature poses little or no constraint
to integrated farming systems (FDALR, 1990)

2.2.2 Soil factors

The textural and structural characteristics of the soil at the
site vary from the Northern plank to the Southern axis. Whereas most parts of the Northern plank
consist of loamy and sandy loam soil, the Southern
axis composed of chikoko soil, swamps, and clay soil, which is ideal for
earthen pond development. However, the remaining
part of the site with sandy and loamy soil could equally be utilized for establishing
an indoor hatchery complex as well as concrete
fish tanks of assorted sizes. This variation of the soil characteristics is expected in a conventional setting and
does not pose any threat to fish farming.

2.2.3 Hydrology and Hydrogeology

The proposed site is very close to a natural creek with saline
water river, which can supply the much needed water requirement for the fish
farm ponds. Because of the activities of oil and gas production companies on
our surface water, treatment plants will be installed at water entry points to
remove perceived contaminant. Diverting the river into an earthen reservoir is
very much feasible but due to salinity of the river, treatment will be quite
expensive, so there is need for the provision of Industrial Water boreholes with
treatment plant as source of potable water for the residents of the Fish Farm
Estate.

2.2.4 Vegetation Cover

The location of the project site falls within the Southern tropical rain forest with large vegetation and mangroves which has to be cleared to pave way for construction works in the farm. Also there are economic trees like mangoes, cashew and palm trees seen at the location, for ponds coverage.

2.2.5 Accessibility of the Site

The proposed Fish Farming Estate is very much accessible as it is very close to the linking bridge and access roads, signifying that raw materials and products can easily be transported to and from the farm with little cost. Also the water routes create easy transportation of products to the demanding neighbouring target market and states.

2.2.6 Title of Land

Idasiye Global Fish Farm
Estate hopes to acquire 5 hectares of land at the said location. Details of
this are available under the financial analysis.

2.2.7 The Sponsors of the project

The Fish Farming Estate Project in Ataba Town, Andoni Local
Government Area of Rivers State would be financed partly by Idasiye Global
Farm, Federal Ministry of Agriculture and Rural Development, Africa Agriculture
Development Bank and World Bank Plc, with an investment share capital of 30%,
30%, 20% and 20%.respectively. Private sector income earning within the primary
and secondary target market will also be encourage. This is for the purpose of
future project expansion. This can only happen, after setting up the fish farm,
begin production and sales of products from the Fish Farming Estate project for
at least six (6) months.

2.2.8 Price of the Land

The price of the land is captured in the budget for the project (see details in table for total estimate of the Fish Farm Estate project).

2.2.9 Location and Neighbourhood

The following location and neighbourhood selection criteria of market give option for the selection of Fish Farm Estate project in Ataba Town, Andoni LGA of Rivers State and they include;

1. A lot of Oil and Gas industries are located within 70km neighbourhood of the project.

2. Several commercial cities and communities like Kaa, Bori, Eleme, Onne etc are located approximately 120km from the project site.

3. The Atlantic Ocean whose breeze cools the vicinity and neutralise the polluted air around the project site is also considered.

4. Industrial estate like Prodeco camp at Onne in Eleme LGA located close to the project site is also a criterion.

2.2.10 Proximity to Service and Amenities

Apart from clubs and other recreational centres that Fish Farm
Estate offer, the Estate is also close to beaches at Ikuru Town and Oyorokoto,
Andoni LGA. The beach has entertainment centres, bars, shopping malls and
clubs. Therefore residents of the Fish Farm Estate can make good use of these
options with their families.

2.2.11 Zoning, Services and Site Condition

Due to the type of personalities and the kind of building within
and around the vicinity of the Fish Farm Estate, the area is properly zoned
with adequate parking lots to accommodate a good number of cars. Also apart
from the utilities (water, electricity, internet, sewer, gas, cables,
telecommunication etc) that will be provided by the Fish Farm Estate, which to
a large extent serves as backup plan, the site should have access to municipal utility services and infrastructure
(roads, bridges and walk sides). 

Due to the flat nature of parcel of
land for the Fish Farm Estate Project, there is easy accessibility within and
around the Fish Farm Estate especially for the older residents of the target
market, who may prefer to walk around the Estate. Although the parcel of land
is about 5% sloppy, it will aid to convey rain water and other soil pollutant
to the nearby rivers, which is also a form of soil remediation and avert
flooding within the Estate. Due to the activities of Oil and Gas companies
within the surroundings of the Estate, soil remediation may be required to
remove other heavy soil pollutant that will pose threat to the life of the
products of the Fish Farm. Although it is a virgin land, there is no presence
of wildlife that will threaten both the life of the residents and the products
in the Fish Farm Estate Project at present and in future.

2.2.12
Size and Shape of the Site

The size and shape of the land is
very good and will allow for expansion of 5 to 10 hectares, since there is
still vast and flat large hectares of land around the vicinity of the project.

2.2.13
Potential Development Partners

With the prospect expected from the
success of the project, wider target market may have the opportunity to partner
with, develop and expand the projects.

2.2.14
Municipal Fees and Charges

Following several discussions with
relevant agencies and knowing the significance of the project to the Federal
Government, approved agencies levies such as building permits and development
charges, on new development, including residential and institutional
accommodation are expected to be considerably reduced. This is because of
government urgent need to diversify the economy and in a way to encourage
private investors in agriculture. Therefore there is large cost savings arising
from the location of the project in the area.

2.3
Competitive Market Analysis

Table
8.  Distribution of Fish Farm Project
within the Target market LGAs.

S/No	Area (M2)	Go	Kh	ON	Bo	OB	Ok	An	Total Fish Farm
1	10	1	1	2	3	2	1	2	12
2	50	--	--	1	3	--	1	1	6
3	100	1	1	--	1	1	--	--	4
4	Total								22

Table 8 shows that there are 22 fish
farms within the target market local government area and apparently the fish
production will not be much to cater for the 279,527 estimated
household (Table 2). Therefore the competitiveness of the target market is
quite low, compare to this particular project (Fish Farm Estate) we are about
to execute. It also means that the products are for subsistence in the small
local markets within the primary target market.

Our survey observation also shows the absence of residential accommodation within
the farms even for the staff. Unlike the proposed Fish farm Estate in Ataba
Town, Andoni LGA Rivers State that have residential accommodation for both
staffs and potential target market partners with modern facilities like
wireless internet, recreational centre (club, GYM, and wine bars), swimming
pool, good school and several other amenities. Such a place will not have
revival for competitive market because none of the target market residents and
potential investors, sponsors and developer will see a viable investment
opportunity and opt for the former. The only thing to be done to attract more
target market is to ensure continuous improvement, upgrade, expansion and
adequate sensitisation of the project to the target market.

There is also need for professionalism in the project. All staffers are expected to
carry out their duties in the most professional ways. Management of the Estate
are to ensure that policies for setting up of the Estate are strictly followed.
And when potential target market sees the level of sincerity, trust and return
of investment within a short while, they will be forced not to look elsewhere
but to be part of investors, developer and partners in the Fish Farm Estate in
Ataba Town, Andoni Local Government Area, and Rivers state.

2.3.0.
Financial Feasibility Analysis.

This area talks about the scope of work, project Cost, organisation &supervision, and revenue that will be generated from the project. It captured potential investor’s financial expectation.

 

 2.3.1. The Scope of the Project

• The Proposed Fish Farming Estate in Ataba Town, Andoni Local Government Area of Rivers State consists of construction and installation of two (2) Standard Industrial Water Boreholes with overhead tanks.

• Secondly, Construction of an Indoor Hatchery Complex.

• Thirdly, Construction of five (5). Outdoor Concrete Nursery tanks.

• Fourthly, Construction of twenty (20). Concrete Production Tanks.

• Construction and installation of a Feed Mill Complex.

• Likewise, Construction of Farmhouse, Staff Quarters and other supporting infrastructure.

• Also, Construction of Training hall.

• Construction of Fish Processing Centre and cold storage facility

• Furthermore, Construction of Fish Marketing Centre.

• Procurement of fish farming inputs, hatchery equipment and farm implements.

• Also, Procurement of farm utility vehicles.

• Procurement an electric generator.

• Lastly, Procurement and installation of twenty (20) 2.0 circular fibreglass tanks.

The Fish Farm Complex will consist of twenty (20) Concrete Production Tanks
measuring 10m x 10m x 1.0m each, five (5) Concrete Nursery Tanks and Procurement
of twenty (20). circular fiberglass/earthen Tanks. Each of the tanks will be
fitted with all the necessary water control structures (inlets and outlets) for
directing water into the tanks and drainage respectively. The water inlets
would be provided with showerheads to allow for maximum oxygenation of pond
water during impoundment. All the ponds would further be screened with fine
netting material to prevent entry of predators into the ponds as well as exit
of farmed fish into the wild life. A
gentle slope would be maintained in all the ponds bottom to ensure 100%
drainage of pond water. A feed mill complex capable of milling 5.0 tons of feed
per hour will be procured and installed in the farm to produce the much‐needed
fish feed for farming operations. A milling house measuring about 6 meters long
and 4 meters wide with a store will also be constructed to house the feed mill and
store raw materials and processed feed respectively. An indoor hatchery complex
comprising two circular concrete tanks of 2.0 meters diameter each, 2
rectangular concrete tanks of 2.0 meters by 2.0 meters each, a laboratory, a
store and an office will also be constructed to produce the much‐needed
fingerlings required in the farm and for sale to other fish farmers within the
locality. A farm house comprising an office, security post and living rooms
will also be constructed in the farm. A
standard fish processing centre and training hall will be constructed to allow
for value added fish products and training of farmers respectively. Two (2)
Industrial Boreholes with overhead tanks will also be constructed to provide
the much needed water for the fish farm estate project. A fish marketing centre
will also be constructed for storage and marketing of fishery products while
fish farming equipment, stand by electric generator and farm utility vehicle
will be procured for use in the integrated fish farm estate.

2.3.2 Total Cost of Project, Organization and Supervision of the fish farm project.

The construction works of the project must be completed within the stipulated
period and in accordance with the estimated budget. Adequate and continuous
supervision of the project is quite imperative and must be provided by the
client to ensure that work is carried out to specifications. Application of all
relative permits required for the project should be filed. Necessary sub‐contracts
should also be prepared. In order to ensure smooth execution of the work,
targets, resource allocation, duration and support facilities, a separate chart
showing estimated cost (bill of quantities) and simple activity schedule are
prepared for ease of reference (Tables 9 and 10 respectively). However, various
alternatives can always be considered when materials and resources are laid out.

Table 9 Simple Activity Schedule for the Fish Farm Project

S/No	Activity	1	2	3	4	5	6	7	8	9	10	11	12
1	Preparation of feasibility Report
2	Supply of materials
3	Mobilization
4	Construction and Installation of Boreholes
5	Construction of Concrete Production Tanks
6	Construction of Indoor Hatchery Complex
7	Construction Outdoor Nursery Concrete Tanks
8	Construction of water control structures
9	Installation of Feed Mill and shed construction
10	Construction of Farm house & Security post
11	Construction of Staff Quarters
12	Construction of Fish Processing Centre
13	Construction of Fish Marketing Centre
14	Construction of Training Hall
15	Construction of Electric Generating Set Housing
16	Commissioning of Project segment

Table 10 Estimated Total Project Cost.

S/No	Items	Unit Cost	Quantity	Amount (₦)
A	LAND ACQUISITION	Lump Sum	(5.0 Ha)	10.0m
	Sub-Total			10.0m
B	CONSTRUCTION WORK
	Construction of earthen/Fibre glass production ponds	Lump sum	20 Nos	6.0m
	Construction of Concrete production tanks	Lump Sum	20 Nos	8.0m
	Construction of Cottage Indoor Hatchery Complex	Lump Sum	1 Unit	4.0m
	Construction of Boreholes	Lump sum	2 Units	4.0m
	Construction of Concrete rearing tanks	Lump Sum	10 Nos	2.8m
	Construction of Water Control Structures	Lump sum	Assorted	0.4
	Construction of Farm House (Office, Store & Loft Net)	Lump Sum	1 Unit	4.0m
	Construction of Staff Quarters	Lump Sum	2 Units	6.0m
	Construction of Training Hall	Lump Sum	1 Unit	4.0m
	Construction Fish Market Centre	Lump Sum	1 Unit	2.8m
	Construction of Feed Mill Complex with Feeds Store	Lump sum	1 Unit	4.0m
	Construction of Fish Processing Centre	Lump Sum	1 Unit	2.5m
	Sub-Total			NGN 48.5m
C	PROCUREMENT
	50KVA Generating Sets	0.5m	2 Units	1.0m
	Feed Mill Unit ( Hammer Mill, Mixer, Dryer & Pelletizer	Lump Sum	1(5 tons/Hr)	5.0m
	Utility/Operational Vehicles (Trucks, Hilux, Buses, Assorted Cars	7.0m	6 Nos	42.0m
	Over Head Tanks	0.1m	10 Nos	1.0m
	Fish Farming Equipment	Lump Sum	MISC	2.0m
	Sub-Total			51.0m
D	IMPUT SUPPLY
	Fish Brood Stock (200)			0.4m
	Fingerlings (200,000)			4.0m
	Fish Feeds Assorted			14.0m
	Fish Feeds Ingredients			2.5m
	Fertilizers and Lime			0.2m
	Fry Feed, Hormones			0.2m
	Drugs and Medications			0.2m
	Sub-Total			21.5m
E	STAFF SALARIES AND ALLOWANCES
	Farm Manager (1 Nos) @₦120,000/Month X 6 Months			0.72m
	Marketing Manager (1 Nos) @ ₦100,000/Month X 6 Months			0.6m
	Farm Accountant (1 Nos) @ ₦100,000/Month X 6 Months			0.6m
	Fishery Overseers (2 Nos) @ ₦70,000/Month X 6 Months			0.84m
	Farm Watchman (4 Nos) @ ₦50,000/Month X 6 Months			1.2m
	Farm Drivers/Mechanics (6 Nos) @₦50,000/Month X 6 Months			1.8m
	Farm Attendant (2 Nos) @₦50,000/Month X 6 Months			0.6m
	Sub-Total			6.36m
F	MISCELLANEOUS EXPENSES
	Oil, Fuel and Lubricants			0.12m
	Advertisement			0.2m
	Sundry Expenses			0.5m
	Insurance & Legal Fees			1.5m
	Sub-Total			2.32m

Table
11 Summary of Estimated Total Project Cost

S/No	Items	Amount (₦)
A	Land Acquisition	10.0m
B	Construction Work	48.5m
C	Procurement	51.0m
D	Input Supply	21.5m
E	Staff Salaries and Allowances	6.36m
F	Miscellaneous Expenses	2.32m
	Grand Total Cost of Project	139.68m

2.3.3.
Expected Estimated Production from the Project

The following assumptions in estimating
the expected production outcome:

• Each fish weighs 1.0kg averagely.

• Production cycle of six months.

• 10 percent fish mortality.

• The Fish Farm Estate is expected to produce 360,000kg of fish and 2 million fingerlings and juveniles in the next 6 months production cycles.

2.3.4 Expected Estimated
Revenue Generation from the Project

After proper market survey on the sales of the products, the
following assumptions were made;

• Price of One kg of Fish is NGN 500/kg.

• Price of Fingerling/Juvenile is NGN 20/piece

Table 12 Estimated Revenue
Generations from the Project

S/No	Items	Unit Price (₦)	Quantity (kg)	Amount (₦)
	Total Products
1	Sales of Table Fish assuming 10% Mortality	500/Kg	324,000.00	162.0m
2	Sales of Fingerlings/Juveniles	20/piece	1.8million	36.0m
	Grand Total			198.0m

2.3.5. Economic
Viability of the Fish Farm Project

The cost benefit analysis above has shown that 180 tons of table
fish and 2 million fingerlings are realizable in six months of production with
a net profit of about N58.32m bearing in mind that total fixed and operation
costs have been deducted from the revenue of first production cycle, taking 10%
mortality rate into consideration. More profit will be realizable in subsequent
production cycles especially when two production cycles per year could be
achieved in Nigeria.

The profitability of the Fish Farm Estate Project can be
calculated by subtracting the cost of the project from the expected revenue
generation

Profit = Estimated Expected
Revenue-Estimated Cost = NGN 198.0-139.68 = NGN 58.32m.

 3.  MANAGEMENT AND ADMINISTRATION

The overall responsibility for the management of the Fish Farm Estate is vested on
the Farm Manager. He must be a person of proven integrity with progressive and
dynamic qualities. He should be able to exhibit traits of managerial
capabilities in handling both administrative and financial activities on the
farm. Corps of direct and indirect staff should in turn support him. In
addition to technical knowledge and skills, the farm staff must possess drive
and determination to get the job well done. The management staff must be
prepared to put extra time and efforts, which are considered vital to the
smooth operation of the farm. The staff must also ensure that production
targets are met within specified period. It has therefore become imperative
that merit and rationality be given adequate attention in the selection of the
Farm Manger and other supporting staff. However, the view of the consultants is
that, Fisheries experts (Aqua culturists) should carry out the recruitment
exercise for the company. To achieve maximum productivity the management and
administration of the Fish Farm Estate in Ataba Town, Andoni local government
area, will carry out activities such as fish pond management, fertilization,
stocking of fish, feeding, water quality management, sampling and harvesting of
products.

3.0 Fish Pond Management

a. Selection of Fish Species

Although a large number of fish species grow successfully in
fishponds only a restricted number are usually recommended for culture in ponds.
Therefore, fish species exhibiting some of the following characteristics are
usually selected for stocking in ponds:

 

• Adaptability to the environment.

• Faster growth rate.

• Efficient converter and utilization of both natural and artificial

  fish feed.

• Hardy and can tolerate adverse environmental fluctuations.

• Resistance to diseases.

• Palatable with high nutritive value.

• Acceptability to the local community.

• Is of high demand in the market.

• Has high market price

 

In order to find all these qualities in one fish is very
difficult, hence fish species having the maximum required qualities are usually
selected for pond culture. The following fish species are highly recommended
for fishpond culture in the fish farm estate:

• Clarias gariepinus                                                          Mud catfish (African catfish).

• Heterobranchus bidorsalis/longifilis                                       African
  bony tongue.

• Heterotis niloticus                                                                   African bony tongue.

• Cyprinus carpio                                                                      Common carp.

• Oreochromis niloticus
  Nile tilapia.

•  Heteroclarias
  Hybrid catfish

 

Two fish species namely; Clarias gariepinus and Oreochromis
niloticus are recommended for culture in the Fish Farm Estate. This is
because of their unique growth performance within a short period of time. These
fingerlings time are readily available in various parts of the country viz;

 

• National Institute for Freshwater Fisheries Research (NIFFR), New

  Bussa, Niger State.

• Durante Fish Farm Limited, Ibadan, Oyo state.

• Fagam Fish Farm, Mariri, Kano State

• Panyam Fish Farm, Mangu LGA, Plateau State

b. Pond Preparation and management Liming

As soon as the pond construction is completed and water control
structures put in place, the ponds will then be limed using Agricultural Lime
or Quicklime. Lime is usually broadcasted at the pond bottom at the rate of 450
kg. Per hectare and will be allowed to stay for about two weeks. Lime application
in ponds is needed to neutralize the acid nature of the soil, promotes the
growth of phytoplankton, destroys harmful bacteria, settles suspended soil
particles in the water and promotes the formation of mineral elements needed
for optimum growth and development of the farmed fish.

3.1. Fertilization

Fertilizer application in ponds accelerates the growth of
phytoplankton and zooplankton which are known to be the natural food for farmed
fish. Either organic fertilizer (Cow dung, Poultry waste, Pig waste etc) or
inorganic fertilizer (NPK, Urea, Super phosphate etc) could be used to
fertilize ponds. It is usually broadcasted or dissolved in water or tied in
jute bags and suspended in water. The rate of application of fertilizer depends
on the type of fertilizer. About 1000 kg of inorganic fertilizer is required in
the proposed Fish Farm. Fertilization may not be necessary because concrete and
fiberglass tanks will be used for fish production in the farm.

3.2 Stocking of fish

It is best to introduce fish into ponds very early in the morning
or late evening especially when the sunshine intensity is very low. This is to
avoid unnecessary stress which might cause high mortality of fish few days
after stocking. The fish will be stocked at the rate 10‐35 fingerlings per square meter for catfish depending on the production
system and 10‐50 fingerlings per square meter for Tilapia. It is better to lower
the fingerlings container gently into the pond water so that the fish swim out
by themselves.

3.3 Feeding

As earlier mentioned, fertilizer application in ponds promotes the
growth of phytoplankton which constitute a primary source of natural fish food.
This has to be supplemented with specially formulated and compounded fish feed
to accelerate the growth of fish at their maximum potentials. To this end
therefore, fish will be fed twice daily with artificial feed at the rate of 5% body
weight. A feed mill unit comprising a hammer mill, mixer, dryer and pelletizer
capable of producing 5 tons of feed per hour will be installed to produce the
much needed fish feed required in the farm. The feed mill will also be used to
produce extra fish feed for sale to other fish farmers within the locality.

3.4 Water quality management

Regular and frequent analysis of the pond water has to be carried
out. Water quality parameters such as dissolved oxygen (DO), acidity (PH),
carbon dioxide (CO2), iron (Fe), carbonates (C03), nitrates (N03), nitrite
(N02), ammonia (NH3), sulphide (S02), Chloride (Cl2), temperature, alkalinity,
total hardness, turbidity and conductivity have to be monitored properly to
ensure that they are kept at optimum levels. To this end, a water test kit will
be procured for measuring these water quality parameters regularly to ensure
the growth and survival of farmed fish. Excessive feeding and fertilization
must be avoided as they may pollute the water, which might kill the fish.

3.5. Sampling

For effective management, sampling of farmed fish to determine
their growth performance in response to their feeding has to be carried out on
regular basis e.g. monthly. When fish is sampled, the quantity of feed required
by the fish will change and will correspond to the increase in weight gained
for a period of sampling. Regular sampling ensures an up‐to‐date knowledge of the growth
rate of farmed fish. Scoop net, clap net, cast net or drag net could be used to
sample fish in ponds.

 3.6. Harvesting

Harvesting is carried out when the farmed fish have grown to the
desired size (table size). To harvest the fish, the pond water is reduced to a
very low level so that fishermen/farm attendants could move through with a drag
net to collect all the fish. Alternatively, the pond water should be drained
completely so that all the fish would be collected.

Table 13 Projected Fish Farm Equipment

S/No	Items	Nos	S/N	Items	Nos
1	Plastic Bowls (30 Litres)	10	12	Water Testing Kits	1
2	Plastic Bowls (50 Litres	10	13	Secchi Disc	1
3	Weighing Balance (100kg)	1	14	Oxygen meter	1
4	Wheel Barrow (Standard)	3	15	PH meter	1
5	Scoop Net	4	16	Thermometer (100°C)	4
6	Cast/Clap Net	4	17	Dissecting Kits	2
7	Drag Net and Accessories	4	18	Mortar and Pestle (Ceramics)	1
9	Mosquito netting material	15 Bundles	19	Hypodermic Syringes	2 Pkts
10	Hand Towel	20	21	Microscope (Binocular)	1
11	Hand Glove	10	22	Microscope Slides	100pics
12	Air Pump/Blows	10	23	Feed Mill Unit	2

 

3.0. Conclusion

Although
the Fish Farm Estate to be located in Ataba Town, Andoni, Rivers State is
capital intensive, very high return on
investment (ROI) of this project is expected. This signifies that the project
is very much feasible, viable and profitable.
More profit will be realizable in subsequent production cycles especially two
production cycles could be achieved in Nigeria. Also the residential Estate,
when fully developed, will yield high profit for investors and partners. Not
just viable and profitable to investors, developers and partners, it will
create employment for the locality and by extension to Nigeria, when other
sites are fully developed. It will also serve as recreation and holiday resort
where families and friends visit for relaxation. It will be a pleasure on earth
location for the target market and its environment. When in full capacity, it
will provide raw materials to manufacture ornaments and other useful products
for manufacturing industries. Therefore, we urge investors, developers and
partners to think deep and make good use of the opportunity provided herein