The Business of catfish farming is one that is profitable and lucrative in Nigeria, as there is massive need for catfish, but this is only achievable to a farmer when the right processes are put in place ranging from the use of right feed, clean environment, constant routine checks, but firstly, in order to understand what ROI for farmed catfish is, its paramount we understand what ROI means.
ROI simply means Return on Investment and this is the performance measure used in evaluating the efficiency of an investment or compares the efficiency of a number of different investments. Your return on investment depends on the investment made in the first place and the percentage for interest as well, and also, the length of time for the investment also counts.
Interest rate= 15%
Return on investment (ROI) = 100,000×15%÷100 = N15,000
This math shows that what you make on a N100,000 investment is N15,000 which gives you a total of N115,000 at the end of the investment period.
There is a supply gap for catfish in Nigeria, and over 70% of the catfish consumed in Nigeria is illegally smuggled into the country. With this statistics, it’s paramount to note that it will be beneficial to invest in catfish farming, and additionally, there is also the constant demand for catfish in the Nigerian market. With the right farm processes put in place, attractive return on investment is assured. But essentially, it is important to take into cognizance the fact there might be different factors that may likely hamper the possibility of a good return on Investment, but these factors can be dealt with to ensure catfish farming goes on without a glitch.
Essentially, catfish farming has an attractive Return on Investment (ROI) and you will certainly of making massive gains from investing in this aspect of Agriculture.