Tuesday, September 22, 2015

FLOATING FISH FEED IMPORTATION IN NIGERIA, THE FEASIBILITY REPORT.

Nigeria, with a population of about 165,000,000 people is grossly underprovided with an essential food component, which is protein. For example, data from the FOS, CBN, and FAO indicate that from cattle, less than 2kg of beef is available to an average Nigerian per year and just mere 4kg of eggs per annum is available to each Nigerian.

In fact, milk production has been nose diving or at best has remained constant since 1994.This scenario is compounded more so when  the volume of  egg supply is very low, being  10.56g per person per day as compared with the usual recommendation that an egg should be consumed by an adult per day. This recommendation would imply a crate of 30 eggs per month. This story also holds for other fish products.

To ameliorate this problem of low-level of protein intake, there is the need for concerted effort, among the various stakeholders to bring about the massive production of protein based food items at competitive costs so that they would be affordable to the general masses. Aside from the other necessary economic reforms, massive investment fish farming is one way of resolving the problem and invariably in the importation and production of livestock feeds.

The aquaculture industry is not new to Nigeria; the first documented fish farms date back fifty years. However, this was also the time when fishing activities among coastal communities also began to decrease due to oil-related activities.

Fishes are aquatic creatures that lives in water and there are over ten thousand {10,000} species of fishes in the waters. Only a few of the many kind of fishes are being cultured in Nigeria. In Nigeria, there are two fish types that thrive. These are the tilapia and the Clarias, which is a class of the catfish family.

Making locally-produced fish more readily available for Nigerian consumers will give them faster and fresher access to one of the healthiest sources of animal protein.

The growing fish farming in Nigeria is creating a demand for fish feed. Apart from the presence of oxygen in the ponds, feed is next in importance for the production of fish.

Nutrient requirements and feeding characteristics of channel catfish have been extensively researched. This research has provided the basis for the formulation of efficient, economical diets and for the development of feeding strategies - both of which have been instrumental in the success of the catfish industry.

For some years, fish farmers in Nigeria have preferred high quality imported fish feeds, going along with the common belief, “if it is imported, it has to be better than locally made products”.


This report examines the financial viability of importing floating fish feed, an essential requirement in the early development stage of fish into Nigeria. The company would import 100 tons of different sizes of high quality floating fish feed on a monthly basis in the first five years and increase the capacity according to market demands.

Report Details:

Report Type: Pre- Feasibility Report

Formats of Delivery: PDF / MS WORD

No. of Pages: 28 Pages ( Text Part) / 6 Pages (Financial Part)

Publisher: Foraminifera Market Research

Release Date: 30/08/2015

Language: English

Delivery time: 24– 48hours

Table of Contents:

EXECUTIVE SUMMARY

1.0 Business Overview

1.1 Description of the Business
1.2 Vision and Mission Statement
1.3 Business Objective
1.4 Critical Success Factor of the Business
1.5 Current Status of Business
1.6 Description of the Business Industry
1.7 Contribution to Local and National Economy

2. Marketing Plan

2.1 Description of product
2.2 Product Packaging and delivery
2.3 The Opportunity
2.4 Pricing Strategy
2.5 Target Market
2.6 Distribution and Delivery Strategy
2.7 Promotional Strategy
2.8 Competition

3. Production Plan

3.1 Description of the Location
3.2 Raw Materials
3.3 Production Equipment
3.4 Production Process
3.5 Production Cost
3.6 Stock Control Process
3.7 Pre-Operating activities and expenses
3.7.1 Operating Activities and Expenses
3.8 Project Implementation Schedule

4.0 Organizational and Management Plan

4.1 Ownership of the business
4.2 Profile of the promoters
4.3 Key Management Staff
4.3.2 Management Support Units
4.4 Details of salary schedule


5. Financial Plan

5.1 Financial Assumption
5.2 Start up Capital Estimation
5.3 Source of Capital
5.4 Security of Loan
5.5 Loan Repayment Plan
5.6 Profit and Loss Account
5.7 Cash Flow Analysis
5.7 Viability Analysis

6.0 Business Risk and mitigation factor

6.1 Business Risks
6.2 SWOT Analysis


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