Intensive Subsistence agriculture; a farming system in which individuals’ farm using simple farming equipment for self-consumption and market sale. Subsistence farming is widely practiced in rural areas in Africa and Asia, My family has practiced subsistence farming over the past 20 years, we started with homesteading on 50 × 100 feet land with a rich fertile loamy soil in which grew maize, papayas, plantain and bananas.
In 2012, the expansion idea came to expand the farm into full scale food production and animal production;
The Budget was one million naira for the first quarter of the year
#450,000 on Catfish production
Acquisition of plastic fish ponds; four ponds bought at #225000/$645.
Purchase of 2000 fingerlings at #30/$0.085.
Purchase of Durante Fish Feeds of different sizes.
Payment for transportation of the ponds and fingerlings to the farm location.
Drilling of a new borehole system for constant water supply.
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#550,000 on Poultry Production
Building of a 3 section poultry farm for Broilers, Layers and Native hens.
Purchase of 200 birds to start the project.
Purchase of feeds for the bird.
Electrical installation for the poultry.
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The Farm Production started with a rough patch with a few mortality before we employed a permanent Veterinary doctor to tend the birds and other animals.
CATFISH PRODUCTION
Catfish is one of the most consumed fishes in Nigeria, It was a very profitable venture while it lasted, and the aquaculture business was not without stress. The daily routine in managing the fishes turned out even more tedious than poultry farming, routine ranged from;
Strictly Following The Feeding Timetable
Changing the water when it becomes greenish by opening the water outlet and pumping fresh water into the pond through the inlet pipe.
Monitoring the pond for sign of any larger mammal or threats which can harm the fishes.
Changing food size according to fish growth.
During the fish production for the first quarter of the year, there was a recorded mortality rate of 492 fishes with a total expenditure exceeding #200,000 due to a hike in Fish feed prices during a strike led by the Nigerian Union Of Petroleum Workers which led to an increment in transportation fare nationwide.-
After the 2nd quarter, the fishes were matured enough for sale and taken to the market, a fully matured catfish was sold at #3,500.
Starting Capital = #550,000
Total expenditure = 1,800,000
Total Cost = #2,400,000
Total Sale = 5,250,000
Total Profit = #2,850,000
Duration of the Project = 6 Months
Conclusion
The catfish business is very profitable in Nigeria with the Right knowledge and adequate resources, there are many catfish millionaires who have earned more than 50% return on investment after 6 months. I will encourage every Nigerian to promote the agricultural sector by intensive subsistence farming in aquaculture and poultry due to the large demand for cat fishes and eggs in the country.