The Business of Aquaculture
Discover the scope of opportunities available, and the fundamentals required to start or invest in the aquaculture business value chain.
About the Session
Nigeria is second only to Egypt as Africa’s leading aquaculture country. Conditions in the country favor the production of a wide range of fish including catfish, carp, tilapia and prawns.
The market opportunity for fish farming in Nigeria is huge. Nigerians consume nearly 2 million tons of fish per year, and the country’s growing population ensures demand will continue to boom. Demand far outweighs current national production, making it necessary to import fish from all over the world. However, in recent years the price of imported fish has increased significantly because of the devaluation of the Nigerian naira. Even though fish is a key ingredient in many Nigerian dishes and an important and efficiently produced source of protein (for every kilogram of fish feed, a kilogram of fish is produced), only half the fish consumed by Nigerians is sourced locally.
Aquaculture is one of the most resource-efficient and least environmentally impactful ways to produce protein for our consumption. The production of fish is an important agricultural activity as it is capable of ending nutritional deficiencies and contributing to poverty reduction.
What will be covered?
This session will elaborate on the opportunities in the aquaculture value chain and highlight the fundamentals required to start or invest in an aquaculture business. Participants will be exposed to:
- Opportunities in Fisheries
- Requirements to starting a business across the value chain.
- What does the aquaculture business entail?
- The Business Environment for aquaculture type businesses (Ease of doing business, Registration landscape, statistics etc.)
- An estimate of the size of the aquaculture market
- The competitive environment for aquaculture-type businesses
- Profit Analysis (A forecast / Cashflow / Wealth creation) – this is a fictional foresight of income generated from aquaculture production.
- What are the different ways or business models that one engage in aquaculture?
- How do I identify the appropriate aquaculture business to venture into?
- What are dominant key challenges (if any) within the value chain I should be wary of – and what are ways to manage these challenges?
- Consumption /market pattern for different aquaculture products (fingerlings, table sized, processed)?
- How do I identify customers/off-takers/target market for my aquaculture business?
- What are the key pitfalls to avoid in selecting a target market?
- What skill and competence are required to thrive in this sector?
- What regulation landscape should I be mindful of?
- Where can one, who is interested in the sector, get expert support?
- How do I discover investable aquaculture businesses?
- What are critical signals off a healthy, invest-able aquaculture business?
- What other things should one take into consideration in deciding whether or not to invest in an aquaculture business?
- This session is dedicated to answering selected questions sent in by the audience on aquaculture
Tue, 06 Jul, 2021
11:00hrs, GMT + 1
Meet the experts who will be discussing the topic
Director of Agricultural Technical Services, Lagos State Agricultural Development AuthorityPanelist
What help do you need?
Share what help you may need and we will be happy to share any information or resource that might be useful to support your journey.