Premium targets 500 jobs for youths in two local fish farms

The farms located in Abeokuta, Ogun State capital and Epe, Lagos State expected  to produce 4,500 metric tons of catfish per annum with focus on breeding two species of fishes.The firm said its decision to invest in local fish farming was informed by encouragement from the Minister of Agriculture and Rural Development Dr. Akinwunmi Adesina […]

The farms located in Abeokuta, Ogun State capital and Epe, Lagos State expected  to produce 4,500 metric tons of catfish per annum with focus on breeding two species of fishes.
The firm said its decision to invest in local fish farming was informed by encouragement from the Minister of Agriculture and Rural Development Dr. Akinwunmi Adesina in efforts to develop fish production in Nigeria and reduce the country’s dependence on imported fish.
Speaking at a facility tour of the firm’s 80 by 80 metres fish pond in Epe, Project Manager, Sarvesh Pandey said the company will focus on breeding only catfish and tilapia, explaining that the Epe fishpond is set for production while Abeokuta farm will start operations in April, 2015.
Pandey said that the firm’s investment in Nigeria’s aquaculture is to support the federal government Agricultural Transformation Agenda.
He said the farms apart from boosting local fish production will also employ Nigerian workers and experts, stressing that the company does not intend to bring in experts from abroad to do the job.
“A lot of research has been carried out on what area of fish to invest in and where to start the production. We will be committing an investment worth about $1 million on the production of tilapia fish to be produced in Abeokuta farm.
“Investment in catfish will be lesser than tilapia because catfish is like in-house (Nigerian owned fish), we are doing case culture on tilapia and case culture is more expensive. We are going to import from china and 1kg, will cost us around $4000 at the capacity of 5 metric tonnes per circle. If you do two circles in a year, you can get 10 metric tonnes in one cage.”
He disclosed that the company has signed a Memorandum of Understanding with the Ogun-Oshun River Basin Development Authority to go into tilapia fish farming in their dam.
Meanwhile, the Farm Manager, Jagadeesha Gowda, said the farm in Epe has been able to stock only seven ponds out of 90 since it started in January.
He said the remaining ponds would be stocked subsequently, as shortage of fingerlings has been hindering production of fish in the country.