ABSTRACT
The development of fish farming in Nigeria is traced from the colonial period through decades of mostly subsistence farming to large-scale commercial catfish farming today. Most African countries have encountered difficulties breaking into profitable commercial fish farming; however, Nigeria's strongly growing population at some 150 million and its very high demand for fish positioned the country on a much more strongly market-driven path based on commercial production in peri-urban areas. With investment in good management, selection of the hardy catfish for farming, development of intensively managed fish hatcheries and use of high quality fish feeds, farmers established a new model for raising fish in concrete tanks, which greatly reduced poaching and allowed farmers to get full return on their investment within one year. The paper details costs and benefits. With prospects of good profits, a number of medium-scale investors, invested in farming fish in tanks in ‘fish farming villages’ (also called fish farm estates) located in peri-urban areas near large markets, where several hundred tanks were cooperatively managed. With high demand and market prices, they were able to obtain credit, using professional business plans and security documentation required by lenders.
