BUSINESSES YOU CAN START WITH MINIMAL CAPITAL 1. FISH FARMING Fish is the cheapest source of animal protein and because of its low cholesterol level it is medically recommended as a good food for both the young and elderly. Fish farming in Nigeria is currently a very lucrative business and this is boosted by the continuous rise in the demand for Catfish. It is an Untapped Goldmine waiting for those who can see. The demand for fish according to the federal department of fisheries (FDF) was 2.1 million tons in 2007 while domestic production was 600,000 tons. This deficit was partly augmented by massive importation of fish of about 900,000 tons valued at over $800 million dollars. This is a big drawback on our scarce foreign exchange. This still left a huge deficit of 600,000 tons, hence the concerted effort to ensure self-sufficiency in fish production through aquaculture in Nigeria. The demand for Fish in the country is currently estimated at about 2.66 million tons annually, as against the local annual production of just 780,000 metric tons, giving a demand-supply gap of about 1.8million tons. It is very clear that the demand is far higher than supply. What do you see as an entrepreneur? Business opportunity! According to the Norwegian Ambassador to Nigeria, “Nigeria imports fish especially stock fish from Norway, worth over N109.2 billion Naira ($700million dollars) annually”. In a May 2012 report, the Chairman of Fisheries Society of Nigeria (FISON) Rivers State chapter, Dr. Awoteinm George revealed that “Nigeria produces just 40 percent of the total Fish consumed in the country”. In other words, a 60 percent local production market is waiting for entrepreneurs to fill. Aquaculture has been estimated to have the potential of producing 2.5 million tons, which if fully harnessed will almost satisfy the local demand for fish in the country. You could take opportunity of this high demand for fish and start a fish farm today. This could be that business that would make you a millionaire. The truth is agro-based businesses are very profitable because they meet man’s basic need-Food. You could start and operate your fish pond right in your backyard, compound or garage. What are you waiting for? Fish and Grow Rich in 2013! NOTE: More Business IDEAS still to coming only on Ultimate KING
Posted on: Tue, 23 Jul 2013 08:54:09 +0000
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