The on-going review of fish importation policy by the Federal Government would immensely benefit youths in the South Western part of the Nigeria, reports NaijaAgroNet.
According to NaijaAgroNet reports, Lagos and Ogun State are the key beneficiaries from the production capacity boost as Premium Aquaculture Limited (PAL) revealed its plans to generate over 500 jobs from two large fish farms already set up in Nigeria.
NaijaAgroNet gathered that the two large fish farms located in Abeokuta, the Ogun State capital and Epe suburb in Lagos State are expected to produce 4,500 metric tonnes of catfish per annum with focus on breeding two species of fishes.
The development came as a result of the decision by the PAL to invest in local fish farming in support the Minister of Agriculture and Rural Development Dr. Akinwunmi Adesina in his efforts through the Ministry of Agriculture and Rural Development to develop fish production in Nigeria and reduce the country's dependence on imported fish.
The Project Manager, Premium Aquaculture Limited, Sarvesh Pandey said the company will center on breeding only catfish and tilapia, explaining that the Epe fishpond is ready for production while Abeokuta farm will commence operations in April, 2015.
"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."
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