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NIGERIA - High fish feed prices forcing Lagos farmers out of business

Fish farmers in Lagos State are presently leaving the business due to the increase in the price of fish feeds in the state. The prices, according to the farmers, have gone up by as high as 80 to 100 percent and that was forcing some of them to abandon their farms in search of other business ventures. A renowned fish farmer, Nurudeen Tiamiyu, said a 15kg bag of catfish feed produced in Nigeria was a few months ago sold at N6,000 but that it now sells for N9,000 while the imported ones that sold for N6,000 now goes for N11,000.

October 27, 2016

Fish farmers in Lagos State are presently leaving the business due to the increase in the price of fish feeds in the state.

The prices, according to the farmers, have gone up by as high as 80 to 100 percent and that was forcing some of them to abandon their farms in search of other business ventures.

A renowned fish farmer, Nurudeen Tiamiyu, said a 15kg bag of catfish feed produced in Nigeria was a few months ago sold at N6,000 but that it now sells for N9,000 while the imported ones that sold for N6,000 now goes for N11,000.

Tiamiyu, who is the managing director of Amolese Aquaculture Nigeria Limited in Ikotun, noted that some months earlier, tilapia feed made in Nigeria sold for about N3,150 per 15kg bag but now goes for N4,200.

Source: Daily Trust // Original Article