The Practice of Aquaculture
This session spotlights best practices to adopt, key business strategies to employ, and possible challenges faced in the fisheries value chain providing insight to participants on the pathways to success in aquaculture-type businesses.
About the session
Fish farming in Nigeria has gone beyond the traditional method of going into a river, stream, sea, pond, or lake to bait fish.
Though these methods are still being practised. Modern farming methods are becoming common in Nigeria – these include the use of different types of ponds or tanks depending on the space available and manufactured feeds to raise fish in a controlled environment.
According to the FAO, around 94 million hectares are used to produce fishery and over 1.4 million people work as fishers. The aquaculture sector records production of over 1.1 million metric tonnes of fish – 2nd highest in Africa – though Nigeria still records a huge production deficit as regards the amount of fish the nation consumes.
Practitioners in the sector constantly put up with challenges like recurrent high-cost fish feed, decreasing yield, inefficient management of fishing policy, poor water quality management, poor quality fish seed, and inadequate technical and commercial knowledge among others
In this session, aquaculture experts dig deep into their wealth of experience and provide the audience with detailed contexts on the best practices/strategies to employ and how to overcome the challenges faced in the fisheries value chain
Key take-aways from the session
- Identify the best practices/strategies for growing a profitable fishery business
- Identify the common challenges in the value chain and understand the best ways to implement solutions.
What is covered?
In this technical session, a moderator engages expert panellists on the best practices to adopt, key business strategies to employ and possible challenges faced in the value chain – based on their personal experiences. The moderator asks a series of questions to spotlight important talking points along the value chain and sustains the conversation with follow-up questions from the conversations. The talking points are divided into 5 major sections highlighted below.
- How can one raise finance for growth in his fish farming business or other parts of the aquaculture sector (opportunity available to raise finance)?
- What are the steps one would take to raise finance for scaling one's business in his fish farming business or other parts of the aquaculture sector?
- How long does the process take to raise funds - can one make it faster?
- What is the best production technique/strategy for maximum productivity as regards fish farming or other practices in the aquaculture sector?
- What are the most common and demeaning challenges you have faced in your business journey in the Nigerian Agricultural ecosystem - How did you overcome these challenges?
- As a piece of advice to younger agribusiness entrepreneurs, what route will you advise them to take to become profitable and successful in their agribusiness (fish farming) faster than you did?
- Which markets in the fish farming business or other parts of the aquaculture sector have the highest opportunity to make the maximum profit from production output?
- What are the best techniques for product positioning in the fish farming and aquaculture sector to gain maximum profit for one's products (what is the best time to sell and to whom)?
- How does one continuously identify better entry points into new markets in the fish farming business or other parts of the aquaculture sector in the agric field in Nigeria?
- How does one effectively Brand and network all products in the fish farming or aquaculture industry to be able to go and become a market leader?
- How can one build a profitable relationship for brand growth with market industry leaders?
- What criteria are needed to get a registered agribusiness in Nigeria with all the relevant and necessary certifications?
- How do I locate, approach and form a profitable partnership with companies abroad who need my goods?
Wed, 28 Sep, 2022
11:00hrs, GMT + 1
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