Business and Financial Relations! M.Sc. Class

We discussed theories of Public Relations and relevance of New Media in Financial Public Relations. Each candidate was given an essay to work on. Submit your answer as response to this post. Deadline is 9pm today.

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The Author

Chinenye Nwabueze

Nwabueze is a communication researcher with several years of lecturing experience in Nigerian universities.

15 Comments

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  1. NWEKE Felicia C.

    Fish pond farming in Nigeria and Social Media

    Social media is one of the new media of Financial Business Relations. New media is a digital based communication. It is a term that involves all forms of electronic communication adopting computer technology different from old media such as newspaper, books, television, etc. Multimedia means having different sources in a platform.

    Having known what social media is, let’s quickly look at fish farming and how it can make profit using the social media.

    Fishmasters Nigeria LTD. is a fish pond farm located at Calabar, Cross River States, Nigeria. The company is into fish farming and has lots of employees, stakeholders and publics.

    Fish is one of the cheap source of animal protein and most widely accepted animal in Nigeria and Africa. Though there are several ways a fish farmer can create a direct marketing campaign. The best way to reach a greater number of audiences without spending a lot of money is to use the internet (social media) as a marketing media. The farmer’s social media networks and websites can be used to reach the online audience. Millions of people use the internet and social media platforms such as YouTube, Facebook, Twitter, websites, email address, etc every day, so using various social networks can easily spread the news. The farmer’s should create a mailing list through his website, and let his list know about special events or sales he is having on his farm.

    Summarily, the fish farm makes lots of profit using the social media by:

    * Doing advert at the lowest cost thereby saving lots of money that could have been used in other forms of marketing strategies.

    *The farm gets to a good number of audiences/publics/customers using social media thus increasing awareness and sales and at the end of the day makes profits from the sales.

  2. Nlekuwa Chidinma

    Situational theory in business relations is the understanding the publics, for you to be able to work with each other. In this theory, if you don’t understand the publics or the audience, it will be so difficult to work with them or convince them into following your own ideas.
    SME (small-to-medium enterprise) is a convenient term for segmenting businesses and other organizations that are somewhere between the “small office-home office” ( SOHO ) size and the larger enterprise .
    The importance of SMEs is such that cannot be ignored by the government of any country
    especially in Nigeria. Consequently it has been agreed that the growth of SMEs constitutes
    one of the corner stone’s of economic development in the country. In other words, SMEs
    constitute the driving force of industrial growth and development in the country. It therefore
    makes it a sector that should be focused on and cared for, nurtured by the government by
    making funds more accessible to them at a low interest rate as they need funds to thrive and
    survive. More attention is to be channeled towards the development of SMEs in Nigeria so as
    to aid there growth and expansion. SMES are very important to the development and growth
    of the country as they utilize local raw materials and technology thereby aiding the realization
    of the goal of self-reliance, there is a need therefore to rightly channel the concern of
    government towards small and medium sized enterprises because of the important roles that
    SME play in the process of industrialization and economic growth, SMEs immensely
    contributes to employment generation, income generation, catalyzing development in the
    country at large, more focus should be on the financing and performance of SMEs also
    because of the economic gains it brings. Government should formulate policies aimed at
    facilitating and empowering the growth and development and performance of the SMEs,
    assisting the SMEs to grow through soft loans at low interest rate and other fiscal incentives
    in order to enhance the socio-economic development of the economy like alleviating poverty,
    employment generation, enhance human development, and improve social welfare of the
    people. Small and medium scale enterprise is a sector that should be given full attention and
    not be ignored by the government. The situation is equally prevalent in the Nigerian economy where commercial banks often
    prefer to lend to government, trade in foreign exchange (FOREX), and financing buying and
    selling. A banker in Nigeria aptly put such preferences that “the banks are not a charity,
    hence why should they take risks with SMEs when they can make good money elsewhere”.
    These preferences and tendencies of the commercial banks have worsened the lack of
    financing for SMEs which has also affected the economic growth. The Financial systems in
    every country play a key role in the development and growth of the economy, although the
    ability to play this role effectively and efficiently largely depends on the degree of
    development of the financial system. The traditional commercial banks which are key players
    in the financial systems of nearly every economy, have the potential to pull financial
    resources together to meet the credit needs of SMEs, however, there is still a huge gap
    between supply capabilities of the banks and the demanding needs of SMEs. In Nigeria, the
    situation is even more prevalent.
    SMEs in Nigeria have not performed creditably well and hence have not played the expected
    vital and vibrant role in the economic growth and development of Nigeria. However, the role
    played by SMEs, notwithstanding their development, is everywhere constrained by
    inadequate funding and poor management. The unfavourable macroeconomic environment
    has also been identified as one of the major constraints which most times encourage financial
    institutions to be risk-averse in funding small and medium scale businesses.

  3. FISH POND FARMING IN NIGERIA AND SOCIAL MEDIA

    Fish farming is simply the raising of fishes in containers, tanks or enclosures ponds. Just like every other aspect of agriculture it can be done for subsistence purposes (for the farmers consumption) or commercial purposes (for sales).
    Social media is simply those media that is assessed through the aid of digital technology. It is the new media which consists of Facebook, Instagram, Twitter, youtube e.t. and can be assessed through the use of phones and computers as against the old media of newspapers and magazines.
    Most fish pond farmers take advantage of the benefits of the new media (social media) since most media scholars predicted the death of the old media, especially the print media as technology is taking over. The social media on the other hand have multi media features which includes audio,video,picture and text format. Businesses organisations today make use of this new media since people now assess social media more unlike in time past when newspapers and magazines were patronized more. With the above being stated, social media can aid the growth of fish pond farming through the following ways:
    *When there is a misconception about the fish pond farm on the internet or social media, they can correct this through the social media too and can even provide evidences not just in written form but also with audios and videos
    * The fish pond farmer can gain profit by trading online through the social media and deliver goods directly to peoples locations after they must have made payment online. Thus gainig monetary profit
    *The fish pond farmer can also gain profit throgh getting more customers by advertising his business on various social media oulets like facebook and instagram.
    Social media on the other hand can fetch a fish pond farmer the following advantages
    –Increased Brand Awarenes: people who don’t get to see your advert on newspaper or magazines csn get to see it through social media as your publics may consist of people who not only patronize the print media but social media. Thus giving you morepublicity/awareness
    –Improved Brand Loyalty:the social media platform will provide an opportunity for your customers to lay their complaints and get feedback thereby improving two way communication which will whet your ‘publics’ appetite about your activities and retain their loyalty
    –Large Audience: when you advertise on newspapers and magazines, you have limited accesss but social media fetches you a larger audience who can choose to like or follow your business and it’s updatess. Facebook alone has more than 750 million users, LinkedIn has over 120 million users and over 3 billion YouTube videos are viewed per day.
    –Instant: Whether you’re advertising in a magazine or on a website, you may have to wait weeks or months before your advertisement can run in the publication. With social media, you can announce a sale or special event as soon you finalize plans. Social media gives business owners the ability to share information, such as blog posts, tips and ideas and coupons instantly.
    –Interact: Eg:If you’re into fish pond business and you want to find out which type of your fish your customers like the best, ask customers to sign up for your new email newsletter or you can interact with them directly through social media. Ask a question and watch how quickly your fans and followers reach out to give you their responses. Customers can even leave messages on your page if they have a customer service concern.

  4. bartholomew chinenye evel

    Fish Farming in Nigeria
    What’s Fish Farming?
    Fish farming is an act of rearing fish for commercial purpose. This involves building the earthen, tarpaulin or concrete pond, fertilizing the pond, stocking the fingerlings in good water and feeding the Mackerel, Tilapia or catfish till market size.
    While there are thousands of fish species all around the globe, only very few of them are viable for commercial fish farming.
    Introduction to Fish Farming
    Fish farming is known as pisciculture, that is, the breeding, rearing, and transplantation of fish by artificial means.
    While fish naturally lives inside rivers, pisciculture is the means by which we grow fish at home, mostly for commercial purposes.
    Fish farming is the major form of aquaculture (farming of aquatic organisms like fish, crustaceans, molluscs and aquatic plants).
    Fish farming involves raising fish commercially in ponds, tanks or enclosures.
    There are hundreds of species of fish, among which are; sea trout, cyprinids, pangas catfish, freshwater fishes, silver seabream, common carp, catla, greasy grouper, bighead carp, Nile tilapia, grass carp (who knows, maybe there are thousands more?).
    However, most of the species of fish are not suitable for fish farming business in Nigeria, either because of their nature or because of the low demand in the fish market or the profitability of their species.
    That’s why the most common fish species fish farmers grow for commercial purpose are carp, salmon, tilapia and catfish (while the last and tilapia is the most common species in Nigeria fish market).
    What’s Fish Farming?
    Fish farming is an act of rearing fish for commercial purpose. This involves building the earthen, tarpaulin or concrete pond, fertilizing the pond, stocking the fingerlings in good water and feeding the Mackerel, Tilapia or catfish till market size.
    While there are thousands of fish species all around the globe, only very few of them are viable for commercial fish farming.

    Means of Growing Fish
    Fish could be grown in two ways:
    Extensive aquaculture where fish grow under natural water (i.e. river or stream).
    Then, intensive aquaculture where fish are fed with external food supply.
    Whether you’re planning to start a small scale fish farming or a gigantic commercial fish farming in Nigeria, follow these 9 steps to get started;
    1. Get a good location for your farm
    2. Get a good source of water
    3. Choose the appropriate fish pond
    4. Decide the right species of fish for you
    5. Get healthy fingerling or juveniles
    6. Understand fish feeds & feeding
    7. Start Marketing your fish before they grow-up
    8. Be business minded
    9. Get good and practical fish farming training
    Get a Good Location for Your Fish farming Business.
    You need to first decide whether you’re starting your fish business on a small scale or you’re going big.
    If you’re starting a small scale fish farm, you may decide to start at your backyard with tank but if you’re going big, you may need to buy or rent one or few fish ponds (earthen or concrete ponds) outside your home.
    Get a Good Source of Water for Your Fish
    How important is water to a fish? Just as oxygen is important to you. Take a fish out of water and it becomes helpless and dying.
    Put it in a bad water and you`re affecting its growth and productivity (though “bad” water varies, depending on the kind of fish we are talking about. Some fish live in rough water while others cannot).
    My point here is, you’ll need good source of water for your fish. Also note that what we humans consider a “Good Water” is not what fishes consider good water.
    Take for instance, we can drink government treated water but such water could be poisonous to the fish because of the chemicals used to treat the water for human consumption.
    How much will the water be? Here is a question you alone can answer. I know a man few years ago who had his fish farm at the back of his house.
    He can easily use the well of his house to satisfy these few fishes. How can a man with huge earthen fish pond do this?
    The size of your intending fish farm determines the quantity of water needed. If you’re starting a small scale fish business, you may be comfortable with a nearby well.
    If however you’re starting fish farming in Nigeria as a big business venture, then, you’ll need a strong well or bore hole and water storage tank.
    Choose The Right Fish Pond or Plastic Tank for Housing Your Fish.
    I compared water with oxygen in my above analogy. Here I’m talking about housing your fish.
    Just like you, your fish needs a comfortable place to live. The more natural and comfortable the fish pond is, the better for them.
    There are two popular fish housing system… backyard plastic tank or pond.
    Plastic tank may be good for you if you’re just starting fish farming in Nigeria (especially on a small scale).
    This small scale medium will help you to be familiar with the nature of the fishery business, before you’ll extend your market reach.
    Fish pond sizes are also different.
    Fish ponds are of various sizes and their cost is vary, depending on your environment and need.
    Decide The Right Species of Fish to Farm
    As briefly stated before, there are hundreds (if not thousands) of species in the fish family.
    This means you as a potential fish farmer have to decide which species to choose as you’re starting your own fish farming business in Nigeria.
    Get Healthy Juveniles
    Juveniles are the little fishes you’ll need to grow to table-size.
    Ordinarily we have what we call Fry, which is the development stage of fish immediately after the larvae stage, at an age of less than a week.
    We also have what we call Fingerling which is the development stage of fish following the fry stage and continuing into the first three to four months of life.
    We as well have yearling which is the development stage of fish following the fingerling stage and lasting until approximately one year of age.
    The development stage of a fish after fingerling is what we refer to as juvenile.
    The best practice if you’re just starting a fish farm in Nigeria is to buy juveniles as this will save you from the headaches of much mortality you may experience from fingerlings.
    Just as if everything else must be prepared before the fish itself, yes. There are fish farmers that specialize in hatching fingerlings and selling juveniles.
    Make sure you go for a reputable fish hatchery so as to avoid getting unhealthy juvenile. You know what it means to adopt a sickly child, don’t you? Don’t buy unhealthy juveniles.
    Start Marketing Your Fishes Before They Are Grown Up. So many people who are starting fish farming business in Nigeria are making the mistake of thinking that the market is readily there. It’s not true. You have to start marketing your fish, even before they are grown up.

    Be Business Minded
    Too many potential fish farmers think “It’s just about feeding the fish and selling them”.
    They are wrong!
    Fish farming is a business and if you want to succeed in this venture in Nigeria, you must approach it as a serious business.

    Fish Farming Equipment
    Whether you’re thinking of small scale fish farm or a large commercial fish business, the following are the basic equipment you’ll need to start your own fish farming business in Nigeria;
    • Fish Pond. This could be concrete, earthen or tank of different sizes (depending on the quantity of fish you want to farm)
    • Good Water. Though water could be a free gift of nature, you may have to spend money to dig a bore hole. There’s what we call “water quality” in fish business and it simply means you must have a good and reliable water for your fish
    • Fish Feed. Your fish will eat different kinds of feed at different stages of their lives. While there are many makers of fish feed, we generally use MM to indicate their sizes.
    • Fish Net. This is used for harvesting fish.
    • Labour. You may not need labour if you’re starting a small scale fish farm but you’ll need some labour if you’re going on a large commercial scale.

    How Profitable is Fish Farming in Nigeria?
    Since business is about watching the market trend and taking advantages, it will be good to understand the commercial trend of this agribusiness (business of agriculture)
    The world at large is becoming aware of the nutritional value of fish.
    When you notice the sensitization about how fish is the good source of omega_3, Vitamin D, Vitamin B2 (even though lay men may not know what all that means, they trust their medical practitioners and then eat more fish)
    More and more people are abandoning red meat (because we`re told it`s bad) and embracing fish.
    As a business minded fish farmer, you will need to consider how near your farm is to the market (where you want to sell to).
    It is always a good business decision to first investigate your market, understand the demand, price, your competitors and how you`ll outsmart them.
    All these will influence your decision as per, where to situate your fish farm, the cost and the likely profit.
    How to use social media to ensure profitability
    Social media is an inexpensive way to promote your website and to keep new and existing customers chatting about your business. Here are some quick and easy tips for using some of the most popular social networking sites — Facebook, Twitter, YouTube, LinkedIn, and Pinterest — to help drive interest and customers to your business:
    • Facebook
    o Set up a business page on Facebook and post special offers (at least once a month) to all those who Like your page.
    o Ask customers to share pictures on your Facebook page that show them using their favorite product that they bought from your website.
    o Reduce your workload while expanding your marketing efforts on Facebook: Instead of managing both a business page and a personal page, simply allow subscribers on your personal Facebook page. Subscriptions allow you to send public updates that your subscribers can view. Subscribers can be customers, vendors, and anyone else who is interested in seeing your public posts — just as they would on a business page.
    • Twitter
    o Use Twitter to tweet interesting or unusual facts about your business or products and provide a link to that product page on your site.
    o Send out short tips via Twitter on how to use your services or products.
    o Follow customers and vendors as well as influential bloggers, journalists, industry analysts, and others with a large following and significant influence on your business or industry.
    o Use promoted tweets and Twitter cards as inexpensive ways to advertise your products in Twitter.
    o Get more visibility by tweeting pictures and videos related to you or your business to your followers.
    • YouTube
    o Create a YouTube channel for your online business, regularly add fun and useful videos, and then encourage customers to view and share your videos with others.
    o Launch a video contest: Ask customers to create short videos of how they use your product or service and post them to YouTube, and then let other customers vote on their favorites.
    o Every week, post a short (two minutes or less) video of yourself offering tips for your customers, such as demonstrating how to use a product that you sell.
    o Ask customers to submit video testimonials and post them on your YouTube channel.
    • LinkedIn
    o Create a LinkedIn profile and add links to your website: Update your profile with new links, product reviews, books or articles that you are reading, or other information so that this information appears to all the people in your network.
    o Join LinkedIn groups that may be popular with many of your customers, and frequently post questions or comments related to the products or services you offer.
    o Ask your customers as well as vendors and other business associates in your network to provide a recommendation for you or your business in LinkedIn.
    o Add brochures, PDFs, SlideShare and PowerPoint presentations, and videos to your profile under the Summary section to provide interesting content that anyone viewing your profile can download or share.
    • Pinterest
    o Set up a Pinterest profile for your business, creating one or more Pinterest boards with themes or product interests related to your business.
    o Add the Pin It button to your website pages so that visitors to your website can pin, or post, product images from your site to Pinterest.
    o When pinning an image to a board in Pinterest, add a short text description to provide additional information and interest.
    o Pin videos to your boards. This underused Pinterest opportunity can generate lots of views and shared pins.
    o Hold a pinning contest on your website by encouraging customers to pin an image of one of your products to their Pinterest boards. Offer a small prize to either a random pinner, or the pin that has the most re-pins.

    The use of this social media can ensure profitability in business and it makes fish farming much easier and more fun.

  5. FISH POND FARMING IN NIGERIA AND SOCIAL MEDIA
    Fish farming is simply the raising of fishes in containers, tanks or enclosures ponds. Just like every other aspect of agriculture it can be done for subsistence purposes (for the farmers consumption) or commercial purposes (for sales).
    Social media is simply those media that is assessed through the aid of digital technology. It is the new media which consists of Facebook, Instagram, Twitter, youtube e.t. and can be assessed through the use of phones and computers as against the old media of newspapers and magazines.
    Most fish farmers take advantage of the benefits of the new media (social media) since most media scholars predicted the death of the old media, especially the print media as technology is taking over. The social media on the other hand have multi media features which includes audio,video,picture and text format. Businesses organisations today make use of this new media since people now assess social media more unlike in time past when newspapers and magazines were patronized more. With the above being stated, social media can aid the growth of fish pond farming through the following ways:
    *When there is a misconception about the fish pond farm on the internet or social media, they can correct this through the social media too and can even provide evidences not just in written form but also with audios and videos
    * The fish pond farmer can gain profit by trading online through the social media and deliver goods directly to peoples locations after they must have made payment online. Thus gainig monetary profit
    *The fish pond farmer can also gain profit throgh getting more customers by advertising his business on various social media oulets like facebook and instagram.
    Social media on the other hand can fetch a fish pond farmer the following advantages
    –Increased Brand Awarenes: people who don’t get to see your advert on newspaper or magazines csn get to see it through social media as your publics may consist of people who not only patronize the print media but social media. Thus giving you morepublicity/awareness
    –Improved Brand Loyalty:the social media platform will provide an opportunity for your customers to lay their complaints and get feedback thereby improving two way communication which will whet your ‘publics’ appetite about your activities and retain their loyalty
    –Large Audience: when you advertise on newspapers and magazines, you have limited accesss but social media fetches you a larger audience who can choose to like or follow your business and it’s updatess. Facebook alone has more than 750 million users, LinkedIn has over 120 million users and over 3 billion YouTube videos are viewed per day.
    –Instant: Whether you’re advertising in a magazine or on a website, you may have to wait weeks or months before your advertisement can run in the publication. With social media, you can announce a sale or special event as soon you finalize plans. Social media gives business owners the ability to share information, such as blog posts, tips and ideas and coupons instantly.
    –Interact: Eg:If you’re into fish pond business and you want to find out which type of your fish your customers like the best, ask customers to sign up for your new email newsletter or you can interact with them directly through social media. Ask a question and watch how quickly your fans and followers reach out to give you their responses. Customers can even leave messages on your page if they have a customer service concern.

  6. OTETE ONYEKACHUKWU B.

    RELEVANCE OF SITUATIONAL THEORY TO SME SECTOR IN NIGERIA

    Previously known as “the life cycle theory of leadership”, the situational leadership model was a concept introduced by Paul Hersey and Ken Blanchard in Management of Organizational Behavior (www.kenblanchard.com). They argued that there isn’t just one leadership style that works for all conditions. The situational leadership theory includes four leadership styles (direct, coach, support, delegate) that are adaptive to the employee’s range of developmental behavior.
    Successful leaders have the ability to look at situations with different perspectives. They assess the situation and behaviors of the team members in play, after which they determine the type of leadership approach to use to get the best result. In this article, we will list the reasons why situational leadership ensures business success in today’s complex business environment. The situational leadership theory and situational leadership model work to ensure business success, and this article will elaborate on how and why.
    1. It is a more flexible approach to leadership
    2. It encourages successful collaboration among team members
    3. Adaptability is encouraged to fit past, present & future situations
    4. It assesses maturity levels of people within the organization
    5. It encourages socio-emotional support for subordinates
    6. It encourages provision of direction & guidance for subordinates
    7. Work productivity can be enhanced with situational leadership
    8. It can boost employee motivation within a business organization
    9. It increases awareness of current organizational situations
    10. Situational Leadership can counter volatility
    11. Situational Leadership can counter uncertainty
    12. Situational Leadership can decipher situational complexity
    13. Situational Leadership can beat ambiguity
    14. Using Situational Leadership, you can control all possible outcomes
    15. Using Situational Leadership, adapt your style to those you lead

  7. okoye chiamaka janefrancess

    NAME: OKOYE CHIAMAKA .J.
    REG NO: 2018052003
    FISH POND FARMING IN NIGERIA AND SOCIAL MEDIA.

    Before going into the main topic of discussion, it will be vital to understand the key words; FISH AND FISH FARMING. Fish is an important source of protein to Nigerians, providing 40% of the dietary intake of animal protein (FDF, 1997). However, FISH FARMING OR PISCICULTURE involves raising fish commercially in tanks or enclosures such as fish ponds, usually for food.
    Africa Business Classroom (ABC) also sees Fish farming as an act of rearing fish for commercial purpose. This involves building the earthen, tarpaulin or concrete pond, fertilizing the pond, stocking the fingerlings in good water and feeding the Mackerel, Tilapia or catfish till market size.
    Fish farming provides important services including supporting nutritional well-being, providing feedstock for the industrial sector, making contributions to rural development, increasing export opportunities, more effective administration of natural resources and conservation of biological diversity (Dagtekin et al., 2007). Fish culture is an efficient means of animal protein production. It provides essential nutrition for over one billion people in Africa, (WBG, 2011) and it is regarded as a lucrative endeavour in terms of income and supply of animal protein to majority of population worldwide (Ngazy, 2004). Fish is the most reliable source of protein for many people in the developing countries (Ayinla, 2009). Aquaculture is an agricultural activity competing with livestock and other crops for the same basic inputs-land, water, labour, nutrients, management, etc. (FAO, 1984) and it is currently one of the fastest growing food production systems in the world (Albert 1996, FAO 2009).
    While there are thousands of fish species all around the globe, only very few of them are viable for commercial fish farming. Fish farming is known as pisciculture, that is, the breeding, rearing, and transplantation of fish by artificial means.
    While fish naturally lives inside rivers, pisciculture is the means by which we grow fish at home, mostly for commercial purposes. Fish farming is the major form of aquaculture (farming of aquatic organisms like fish, crustaceans, molluscs and aquatic plants).
    There are hundreds of species of fish, among which are; sea trout, cyprinids, pangas catfish, freshwater fishes, silver seabream, common carp, catla, greasy grouper, bighead carp, Nile tilapia, grass carp etc.
    Fish could be grown in two ways:
    Extensive aquaculture where fish grow under natural water (i.e. river or stream). And intensive aquaculture where fish are fed with external food supply.
    If you’re new in the fish business, you probably want to know which of the species of fish is most profitable in Nigeria, especially if you’re aware that there are hundreds of species of fish (sea trout, cyprinids, pangas catfish, freshwater fishes, silver seabream, common carp, catla, greasy grouper, bighead carp, Nile tilapia, grass carp and thousands others).
    Well, the straight answer to your question is; Catfish and Tilapia and the reason is very simple__ because of our climate, their growth and the fish market.
    Climate; Just as it’s in Livestock, crops or other Agriculture business, climate and geographical locations affect different plants, species or crops differently.
    There are some certain steps to take while planning a small or gigantic commercial fish farming in Nigeria; these steps are:
    1. Get a good location for your farm
    2. Get a good source of water
    3. Choose the appropriate fish pond
    4. Decide the right species of fish for you
    5. Get healthy fingerling or juveniles
    6. Understand fish feeds & feeding
    7. Start Marketing your fish before they grow-up
    There are three means of food for your fish.
    • Natural fish feed. This is found naturally in the pond. This include; detritus, bacteria, plankton, worms, insects, snails, aquatic plants and fish (yes, fish eat fish if they`re hungry).
    • Supplementary fish feed. This usually include cheap materials locally available such as terrestrial plants, kitchen wastes or agricultural by-products. Supplementary feed may be good, but they are not for serious fish farmer (except if he includes the other types of feeds). Many people who are into fish farming in Nigeria are using supplementary feeds. some to their profit, others to their loss.
    • Complete feed. This is a carefully made fish feed. They`re usually of good ingredient and nutrients, made by the experts who understand the perfect formula for the fish at a different stage.
    Fish Farming Equipment
    Whether you’re thinking of small scale fish farm or a large commercial fish business, the following are the basic equipment you’ll need to start your own fish farming business in Nigeria;
    • Fish Pond. This could be concrete, earthen or tank of different sizes (depending on the quantity of fish you want to farm)
    • Good Water. Though water could be a free gift of nature, you may have to spend money to dig a bore hole. There’s what we call “water quality” in fish business and it simply means you must have a good and reliable water for your fish
    • Fish Feed. Your fish will eat different kinds of feed at different stages of their lives. While there are many makers of fish feed, we generally use MM to indicate their sizes.
    • Fish Net. This is used for harvesting fish.
    • Labour. You may not need labour if you’re starting a small scale fish farm but you’ll need some labour if you’re going on a large commercial scale.
    • Weight, Bows etc
    You can do the pricing of any of the above or contact our team for help
    How Profitable is Fish Farming in Nigeria?
    Since business is about watching the market trend and taking advantages, it will be good to understand the commercial trend of this agribusiness (business of agriculture)
    The world at large is becoming aware of the nutritional value of fish.
    When you notice the sensitization about how fish is the good source of omega_3, Vitamin D, Vitamin B2 (even though lay men may not know what all that means, they trust their medical practitioners and then eat more fish)
    More and more people are abandoning red meat (because we`re told it`s bad) and embracing fish.
    This is the reason why the world aquaculture (farming of aquatic organisms) remains a fast growing sector, yielding nearly 60 million metric tons (MT) with the estimated value of $119.4 billion (in 2010).
    How can this figure make meaning to the Nigerian fish farmers?
    In conclusion, to start fish farming in Nigeria, there are some association one must belong and they include: Association Fish Farmers and Aquaculturist of Nigeria (AFFAN), United Fisheries Association of Nigeria (UFAN), Association of Fingerlings Producers of Nigeria (AFPON), Nigeria Union of Fishermen and Seafood Dealers (NUFASD), Association of Ornamental Fish Exports of Nigeria (AOFFN), Fisheries Society of Nigeria (FISON).
    How Risky is Fish Business in Nigeria?
    Just as disease could break into poultry farm and destroy a whole farm, so can there be a major outbreak that could lead to great loss in a fish farm.
    However, this is not a good reason to run away from fishery business. What is that business that is not risky anyway?
    Other Fish Farming Tips You Should Take Note
    Take care of your water. Water probably is the most important thing to a fish, even more than food. Fish lives and sustains itself in water.
    Water is the source of its oxygen .Fish lives in Ocean, river and streams. Now that we want to raise them, we have to provide a kind of “home away from home” for them.
    You have to consider the availability of quality water where you`ll locate your fish farm.
    Very often, you will find out that the quality of the water in your pound deteriorates.
    This is very normal due to the feeds you`re giving your fish, even if they are of high quality.
    It`s only a little percentage of the feeds that are actually converted into nutrients for your fish. Other wastes stimulates excessive phytoplankton growth.
    As water stays around for few time, it becomes unnatural for your fish as the oxygen level of the water decreases.
    If there is a flowing stream you directed to your farm, good. If not, the water has to be changed often.
    Feed your fish with quality food. If you don’t, they won’t grow as required.
    Be business minded. You must understand that you’re going into business, real one. Be business minded.
    Be a marketer and a strategist entrepreneur. Eventually your work is to sell. Business is about selling, not only your products, but your vision and business ideas.
    some fish farms in Nigeria include:
    Anu Agro Farms Limited 12B Adeosun Close, Off Balogun Road, Iju-Ishaga, Lagos Nigeria
    Fundara Foods and Fisheries Farms 7 olasoji Street Oko Oba, Agege, Lagos
    11HR Farms KM 4, Ede Road, Ile-Ife, Osun, Nigeria just to mention a few.

    In conclusion SOCIAL MEDIA plays a major role in promoting fish farming in nigeria through online adverts and use of multi media in transmitting its message.

  8. IWUAFOR CHINECHEREM NKIRUKA

    Presently, fish pond farming is a highly regarded industry in Nigeria, with prawns, catfish and tilapia being some of the most popular fish. Fish pond farming can be said to be a very lucrative, profitable and fast-growing business in Nigeria.
    Owing to the fact that the business is still very much under- exploited in the Nigeria of today, a good FPR person can cash in on this and make a great move in achieving increased customer base, greater patronage and profitability for his/her fish Pond Company through effective use of social media also known as the digital/ computer based communication.
    Social media include facebook, watsaapp, instagram, youtube, twitter and the likes. The FPR person can make use of one or a mix of these media in promoting his/her fish pond farming business and make more profits for the company.
    Some popular fish pond farming businesses located in Nigeria are as follows:
    1 Sapphagro fish farm at Ipokia , Ogun state
    2 Cross River cooperative cat- fish, shrimps and prawns association
    3 Chuvaak Nigeria Limited at Uvwie, Delta State
    4 Western Agro services at Warri , Delta State
    5 Iwaloye farms located at Olorund, Ogun State
    6 Anthox fish farm and laboratory limited at Oredo, Edo State. To mention but a few.

    One major thing these fish pond farms have in common is the fact that they operate what is known as Mobile fishpond. This simply means that they can easily be accessed by any of their customers from any location in the country. Their services are not limited to a particular location.
    Therefore, the FPR person working for any of these fish farms can use this as an advantage in marketing and projecting their farm in good light to the public. He/ she can decide to create youtube channel for the farm, where he can make videos showing them making delivery of fish via their mobile farms to their customers. Thereby, encouraging people outside their immediate location to develop interest in patronizing their farm. He can also make use of facebook page, watsapp groups and the likes.

  9. Fish farming involves raising fish commercially in tanks or enclosures such as find pond,usually for food. It is the principal form of aquaculture,while other methods may fall under mariculture.
    In Nigeria The fish pond farming is very popular.Fish farming is also an established lucrative business.And the demand of catfish is increasing continuously Among all the fish species in Nigeria,catfish farming has a great demand.
    Example of fish pond farming in Nigeria is Irete farms limited and it was located at 37A Nekede,Irete Owerri,Imo State Nigeria.
    At Irete fish farms,they raised fish to help uplift the people,is their primary objective and has several products and services to serve to their teaming customers and clients.
    They produce a wide variety of freshwater fish and their specialised fish breeding program make it possible for their customers to receive the highest quality,Healthiest and fastest growing affordable fish.They normally have the fish sizes range from crayfish to extra large and jumbo.
    Their most common species include Arira (indigenous and native strains),electric fish (eruru),boxing fish (okpo),tilapia,largemouth bass,hybrid striped bass,channel catfish,blue catfish,copper nose bluegill,native bluegill,redear sunfish,fathead minnows,threadfin shad,gizzard shad and golden shineer.
    How fishpond farmers achieve profitability through social media,according to Wikipedia “aquaculture also known as aquafarming is the farming of aquatic organisms fish,fish farming is the most common in
    Nigeria.It is profitable business that is widespread accross various parts of Nigeria.The insatiable demand for fishery product like catfish in Nigeria has constantly self-promoted the steady growth and expansion of the industry.So as a fish farming business person,if you want your industry to be known by people,you have to use some of social media to circulate your industry or organisation to people by using some websites like Facebook advertising,online marketing like Google,whatup that is multi media technologies because it is a world wide media and people will be asking of your product if you present it well in such a way it can be attractive and they will be demanding for your product.

  10. OCHUBA NKIRU MIRIAM

    In Nigeria, research into media use pattern of farmers has received attention in the last two decades (Alfred and Fagbenro, 2007). This increased interest is based on the premise that an understanding of farmers’ media use pattern will enable policy makers to plan relevant programmes for their target audience and at the same time achieve prompt dissemination of appropriate technologies to farmers at increased rate because of the media ability to cover wide area within a short period of time. Consequently, if farmers use media in a better way it will have positive impact on fish pond farming,facilitating the adoption of innovation that is being promoted on air. This view is applicable to fish farming which is increasingly gaining ground to complement the ever decreasing catch fish from capture fisheries. Nigerian fish farming has been in existence for over 40 years (Ekwegh, 2005). It is in fact the world’s fastest growing source of animal food, outpacing terrestrial meat production and the captured fisheries (Ogunremi et al., 2013). Implicitly, consumption of fish has great potential to augment daily protein intake that is needed by human beings. This realization gives fish production, processing and marketing in Nigeria widespread acceptability as there is no taboo placed on it by any religious or cultural belief (Adebayo, 2012). Fish farming is a profitable venture and it is rapidly expanding and that is the more reason Nigerian the years to increase productivity of fish farmers through institutional reforms and various economic measures (Soyemi and Haliso, 2015).Among the measures taken to promote fish farming is the use of mass media to get relevant information to farmers. The media therefore, become an important source of information dissemination because the way they present messages has an impact on public opinion as well as constituted authorities. The key role they play in structuring and dominating the public sphere make them the most used and preferred information sources (Olsena and Osmundsen, 2016). The media not only provide information for fish farmers, but also allow new entrants who did not have access to training on fish farming to gather information with which they can start their own fish farm. If farmers, youth and women could seize and use the opportunity to take fish farming as a profession, the population of fish farmers will grow, productivity and yield will increase to meet the ever-increasing demand for fish in the country as Nigeria is among the largest fish consumers in the world, with over 1.5 million tons of fish consumed annually (Davies et al., 2008). However, current annual aquaculture production hovers around 500,000 metric tons. This is an indication that a deficit occurs in the demand and supply for fish consumption in the country. The implication is that the country either depends on importation of fish or needs to encourage local participation in fish farming to ensure food security for its citizenries. It is of no doubt that fish farming has great potential of solving the problem of food security when it is done in the right way. This view is buttressed by (Ogunremi et al., 2013), that increased production of fish will help combat hunger and malnutrition which remain one of the most devastating problems facing the majority of the poor in the country. As the population of fish farmers is growing by the day, different kinds of information need be made available to those that are interested, particularly on how to start and manage fish farms. All these are to encourage local participation so as to increase rate of production (Akinbile and Alabi, 2010). If local fish production must be boosted, fish farmers must raise their yield using modern techniques of production (Alfred and Fagbenro, 2007). Modern techniques of raising fish are normally passed to fish farmers through agricultural extension services that are saddled with the responsibility of disseminating information and persuading farmers to adopt new technologies. However, the agricultural extension service delivery is constrained with so many factors that are limiting their performance. The limiting factors include high extension farmer ratio, paucity of funds, and lack of mobility among others. This observation was buttressed by Mohammed and Olabode (2007) who argue that in Nigeria and many other developing countries, limited number of extension agents (1:4000 farmers) makes it impossible to reach all farmers by inter-personal means. Implicitly, the number of trainings the farmers supposed to have will be inadequate due to limited number of extension agents. This signifies that personal contact of extension agents with farmers need to be complemented with other methods of information dissemination, so as to have access to timely information. It is believed that farmers who possess appropriate and timely information will make a more rational decision than those without (Ogunlade, 2007). Mass media therefore become an important source of information dissemination that will fill the gap (inadequate number of training) that interpersonal method of extension agent could not fill. It therefore becomes necessary to study the media use for communication.

  11. Fish pond farming is a lucrative business as one can generate funds or more from it. Mr Dauda suleman a residence in Nassarawa has been in the business for ten years and has benefited immensely from the business encourages people about the profit making business called pond farming.
    What is pond farming; according to Wikipedia. A fish pond or fish pond is a controlled pond that is stocked with fish and is used in aquaculture for fish farming or is used for recreational fishing or for ornamental purpose.
    How can fish pond be built?
    Building a fish pond is more than just filling your dug with water as well as fish, one need to know the different steps in building a prosper fish pond to be able to make money from it in future. there are different things one need to consider when starting to build because there are different types of pond plastic fish pond or otherwise known as a mobile fish pond.
    River/ stream fish pond:
    This is practiced by constructing a barrier to control the population and movement of the fishes in a particular area of a natural river or stream.

    Earthern pond:
    This type of fish pond is said to be the most preferred type by some farmers because of the presence of some microorganisms which aid the breeding of the fishes. It is also known as the oldest form of fish pond in Nigeria. It is dug to an extent beneath the surface of the earth to allow the action of the capillary water in the soil to take place, just like in the case of a well water system but must not become too deep. It must also have enough space.
    This system should be shallow, preferably in a location close to a natural form of water like a river or stream.

    Availability of water:
    Fishes are aquatic animals as their life depends solely on water. The water must be free from pollutants, color, smell and taste. The sources may be streams, rivers, borehole or springs.

    Availability of Fingerlings:
    The fingerlings must be the fast growing type. Moreso, they must have high feed convertibility. Ideally, the fingerlings must be ready to be harvested at seven months from the time of hatching.

    Vegetation of the place:
    Light vegetation is ideal, preferably grassland. This is easy to clear, sump and excavate before siting the fish pond.

    Topography:
    The land must be flat, but must allow the gentle flow of water from a higher region to a lower region. The area must not be flooded, but if floody, construct an embankment and other barriers early enough.

    Size and Location:
    The size depends on the availability of funds and the type of fish farming to be practiced. Therefore, for commercial fish farming, a large expanse of land is required. The location can be either in the lowland or upland.

    How to make money from a Fish Pond
    One does not necessarily need to have a fat budget to start up the business. One can start from where he/she is and get to where he/she wants to be in the business.
    The following process can be used:
    Hatching: This is the process of producing fingerlings; that’s spawning the male and female fishes to reproduce. This hatching process involves some procedures and conditions that should be met in order to register success. These include; water management, temperature regulation, managing the fish till they become fingerlings which takes about four to five weeks. These new fingerlings are then sold off for profit.

    Selling of fish feeds: If the funds are available, one can invest in selling of fish feeds. Just like humans need to eat to grow and stay alive, the fish also need good food to aid its growth. There are different kinds of feeds, both locally made and imported. One can obtain distributorship to sell the feeds.

    Smoking dry: Smoking/drying the fish is another great way of making money from the business. People love smoked fish because of the flavor it adds to mea

  12. Ezennamuzie Juliet Chidiogo

    Fish farming also known as aquaculture is one of the most common areas of farming in Nigeria and also one of the most beneficial. It entails growing fishes in ponds for either self consumption or sales. Before you start a fish farm, you have to first consider the cost involved. Both in setting up the pond and in getting the fingerlings. This will help you know whether you are financially disposed for the task ahead. After this, you start setting up your pond and start putting other things in place.

    To start a fish farm, you need to secure a land and construct your pond. Because gone are the days when fishing is all about going to the stream and river to catch fish. These days, fish can be farmed as an agricultural product by a farmer known as the fish farmer. After constructing your pond sizeable enough for you, you dig your borehole. This is because water is the life of fishes. Therefore, the fishes are not supposed to lack water. The water should also be changed at intervals. Natural sources of water such as borehole and river water is the most suitable for this as rain water and tap water from chemically treated source might cause problem to the fishes. Having dug your borehole, you should get an overhead tank which should be connected to your pond for easy flow of water. Having set up the pond, you get your juvenile fish. That is the small fishes you intend to grow.
    Remember, this fish farming is for business and not for consumption. And we know that profit making is the heart of every business and this profit will only be maximized if the desired publics of that business patronize the business. Hence the essence of this work which is todetrrmine how a fish farmer can achieve profitability through the social media.

    One might be pushed to ask, what is social media? Before we talk about social media, we will first of all talk about the new media and multi media. The new media means digital or computer based communication. That is the Internet communication. And multi media means having different sources of a platform. Or the assemblage of various sources of the new media on a platform. From need media and multi media, we can now extract social media which is the use of the new media or multi media in socialization or interaction.
    Now having known the meaning of social media, we will be concerned on how fish farmers in Nigeria can use the social media to achieve maximum profit in the fish business. Before now, farmers are seen as illiterates. But these days, farming have become a major source of income to many and fish farming is not left out. Before a fish farmer can make profits through the social media, he has to first market his products through social media. This is easily achievable because of the pervalence of smart phones and other digitalized gadgets and technologies. First of all, the fish farmer will create a social media account either on Facebook, twitter, Instagram or and WhatsApp, or in all. This will enable him to be accessible to and bymillions of people the world over. He will now take a clear shot of his fish farm, his pond and the healthy fishes swimming inside the pond. Then he will upload these on his social media account for his numerous followers and potential customers to see. The system theory of public relations comes into play here. The fish farmer already knows what it takes to be a fish farmer. This means that he is already at home with both the practice and trade. After the upload, he will have to attach to the pictures the numerous benefits of fishes in the body like talking about how proteinous fish is and the numerous minerals which are very vital that fish give in the body. Upon this, he will also attach a video of himself in his pond making sales and the testimonies of his customers. Having been in the system, he will be able to now give a first hand account of the benefits of the business and the benefits of fish to the body.

    1. Igwe jemillian uchechukwu

      SMEs means small and medium scale enterprises.They are non subsidiary independent firms.SMEs are categories of micro, small and medium-sized enterprise which employs fewer than 250persons.SMEs are strategic and essential for accelerating economic growth in nigeria.They constitute about90% of all the business in nigeria,creating more than 80% of employment in the region.SMEs play an important role in the economic development of the country. Their role in terms of production,employment generation,contribution to export and facilitating equitable distribution of income is very critical.
      Social media has to do with website and applications that enable users to create and share content or to participate in social networking. Prominent examples of social media includes
      1)Facebook
      2)Twitter
      3)Google
      4)YouTube
      5)WhatsApp etc.
      SMEs in nigeria can use social mediato profit their business in a lot of ways.
      1)Brand building:By creating awareness for a business brand. Eg.Someone making and selling beeds can publish his product on Facebook for people to know about.
      2)Human connectivity:The ability to creat human connections thereby showcasing how existing customers are using and benefiting from your products.Eg organic beauty cream.
      3)Feedback technique:social media allows you to create a feedback mechanism with your customers whereby you send information and you receive feedback from your customers. Eg a firm tha produces shoes can display their product on social media such that customers and prospective customers can see the shoes and comment on them. The continious interactions between the firm and the customers creates confidence on the prospective customers.
      4)General marketing: social media is a market place and it’s the cheapest place to sell without paying for shops and taxes and millions people are interacted with at the same time.
      5) social media is a great way to keep an eye on your competitors. It gives you the opportunity to monitor and draw inspiration from your competitors who also use social media.
      6)Develop trust with customers using collaborators.

  13. Like putting the sample of your product that fish on multi media advert.
    Example:These Irete fish farms was in website.The PR that are incharge,place it in such it attracts people and well designed with the sample of their fish pond,the fishes,the types they had,how they use to manage it in terms of their management.
    By this,they can achieve their goals.Again for you as a fish pond farmer to achieve profitability through social media,if you are a small farm owner,you are probably working hard inorder to make your business successful and make a steady profit from aquaculture and fish farm you need to take some time out and think things through to successfully create marketing plans for your farm which will expand your market and increase your profits.So think about processing?storing and marketing of the fish.
    When talking about processing,it means that handling and harvest techniques of aquaculture from your pond.Harvesting can be a labor intensive task.At the end of the growing cycle,your pond must be draine and seined to get all your harvest inorder to market them.You must timing the target demand patterns and package it as it will be attractive and sample it on social media.
    In all this,marketing plan will help you to produce goods and services in your farm to meet the demands of your target audience,both in quality and quantity.A good marketing strategy will explain to your customers,why your farm products are better than other products available on the market.Explain to your audience the need for sustainable farming,and how your farm uses methods that do not deplete the environment or the eco-system in any way,because you use all organic and non-toxic methods in every step of your farming processes.
    You should also try to reach a wider audience if you wish to expand your farm,and increase your productivity or farm area.
    You can also advert your fish pond farming on the radio,television,newspapers and magazines for more people that are not good for modern media like Google website,Facebook,whatup to see it,those in Rural areas that normally listen to radio or watching television.

  14. OCHUBA NKIRU MIRIAM

    HOW CAN FISH POND FARMING SYSTEM ACHIEVE PROFITABILITY USING SOCIAL MEDIA The fish farming system is the system in which fishes are reared for sale or for consumption. In other words, fish farming entails breeding of different varieties of fishes such as Catfish, Tilapia and Mackerel . The most common way for fish pond farmer to generate revenue is to advertise his fish farm (that is his brand) what he does or what he is into on Social media platform in order to achieve profitability. Fish farmers should be willing to pay more for an ad on any of the social media concerning their produce ( fish) and the farm itself.
    Achieving Profitability through the Social media. Increased Brand Awareness
    Social media is one of the most cost-efficient digital marketing methods used to syndicate content and increase your business’ visibility. Implementing a social media strategy will greatly increase your brand recognition since you will be engaging with a broad audience of consumers who might be interested in your fish farming business. When you create social media profiles for your fish farming business, then you have at the ball rolling for interaction with people (target publics). Employ people, get business partners, and sponsors to “like” and “share” your page. Simply having people interact with your content will increase brand awareness and begin building your reputation as a business. Each post that is shared will be introduced to a new network of individuals, which can lead them to becoming potential customers, and the more people who know about your fish farm business, the better. By investing only a few hours per week, over 91% of marketers claimed that their social marketing efforts greatly increased their exposure. There is no doubt that by simply having a social media page your brand (the fish farm business will benefit, and yield more profit which is the main aim of going into the business in the first place.

    More Inbound Traffic
    Without marketing your business on social media, your inbound traffic is limited to your usual customers. The people familiar with your brand are likely searching for the same keywords you already rank for. Without utilizing social media as part of your marketing strategy, you will have much more difficulty reaching anyone outside of your loyal customer circle. Every social media profile you add to your marketing mix is a gateway to your website where your brand is being displayed, and every piece of content you post is another opportunity to acquire a new customer.

    Higher Conversion Rates
    With increased visibility, your business gains more opportunities for conversion. Every blog post, image, video, or comment may lead viewers to your company’s website and increase traffic. Social media allows your business to give a positive impression through a humanization factor. When brands are interactive by sharing content, commenting, and posting statuses on social media, it personifies a brand. People prefer to do business with other people, rather than companies. When a brand is interactive online, consumers who follow your brand’s accounts often begin to more completely trust the credibility of your business. when your products (fishes)or services (supplies) are needed, overall providing your business with social proof of its quality. Putting your brand in an atmosphere where people are sharing, liking, and talking, can only improve the conversion rates on your existing traffic.
    Better Customer Satisfaction
    Social media is a networking and communication platform. Creating a voice for your company through these platforms is important in humanizing your company. Customers appreciate knowing that when they post comments on your pages, they will receive a personalized response rather than an automated message. Being able to acknowledge each comment shows that you are attentive of your visitors’ needs and aim to provide the best experience.
    messages will inherently be viewed in a positive light, even if responding to a customer complaint.
    Improved Brand Loyalty
    One of the main goals of almost all businesses is developing a loyal customer base. Considering that customer satisfaction and brand loyalty typically go hand in hand, it is important to regularly engage with consumers and begin developing a bond with them. Social media is not just limited to introducing your brand’s products and promotional campaigns. Customers see these platforms as a service channel where they can communicate directly with the business and maybe the business owner.
    More Brand Authority
    Satisfied customers are eager to spread the word about a great product or service and they usually turn to social media to express their opinion. Having customers mention your business on social media will advertise your business, and show new visitors your value and brand authority. Once you obtain a few satisfied customers who are vocal about their positive purchase experience, you can let the advertising be done for you by actual customers who enjoyed your product or service which in turn brings in more profit for you and the fish farming business.
    Gain Marketplace Insights
    One of the most valuable advantages of social media is marketplace insight. What better way to know the thoughts and needs of your consumers than by directly talking to them? By monitoring the activity on your profiles,, you can see customer’ interests and opinions that you might not otherwise be aware of if your business didn’t have a social media presence. U

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