ENTREPRENEURSHIP PROSOECTS OF AQUACULTURE FOR FINANCIAL DEVELOPMENT, EMPOWERMENT AND POVERTY ALLEVIATION IN NIGERIA

Abstract

Aquaculture (fish farm) has been identified and proffered here as a veritable and sustainable tool that can be used to accomplish (or at least promote) development , empowerment and alleviating poverty amongst the unemployed. A great majority of Nigerian youths and women are poor and seriously need to be financially empowered. The unfortunate negligence and subjugation of this group of people in Nigeria by past governments over the years, were highlighted. Training of the individuals in aquaculture may involve private experts in fish farming, or the government. It is recommended that the fish farm project for each participating, person be one that comprised 10 hart fish tanks to accommodate 4000 fingerlings using the flow through system. A group project can involve 500 youths and 500 women at a time across the country. The cost of the programme, proposed (to run initially for 3yrs) would be up to 6,000,000.000 naira for each participant(about $37,500) and the financial return within the period is more than 15,000,000.00($93,750). The possible sources of funding or recoverable grant/soft loan are the federal and state governments, multinational companies, public spirited individuals, SURE-P, YEP UNDP and others listed. The need to involve professionals in fish production and financial experts, to monitor and implement this program successfully is strongly advocated. Aquaculture is highly recommended as an entrepreneurship tool to financially develop and empower the poor in Nigeria as it has great potentials to adequately accomplish this

Keywords: Aquaculture, Financial empowerment, Government, Training, Unemployed

Unique Article ID: IRJNS-121

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