By Ayo Alonge, [email protected]
Samuel Sunday, who is the Chief Executive Officer of Samdiri Integrated Farms Limited, a fasting growing agribusiness startup, spoke with our corespondent on the merits and demerits of fish farming.
He explained that despite being lucrative enough with the capacity of yielding at least 70 per cent returns on investment, the local market still poses a huge threat to catfish farmers at the retail end.
Starting up
Our objective is to help in economic diversification, create jobs and feed the world. It has been proven that diversification of an economy is a sure and strong defense against economic uncertainty. Agriculture is a sure and easy way to do that, as it is the single largest industry in the world. With the increasing rate in population and unemployment, agriculture is an answer to these problems. Basically, I got tired of hunting for jobs after I acquired a certification on Shield Metal Arch Welding (SMAW). So, I needed do something that will always bring prospects to me instead of me going after them. I decided to venture first into the agriculture, which has helped me create other businesses.
Scope of business
As the Chief Executive Officer of Samdiri Integrated Farms Limited, Saminitech International Advertising Co. Limited, GrantSkills International Limited and other existing corporations, I am based in Port Harcourt where I run my businesses while I move around the nation and other African countries for consulting services.
Challenges
Well, in agriculture, my only challenge is the local market. Those who buy stocks from my customers for retailing. I wish the government will give me the opportunity to set up a national committee that will enhance the agricultural market in Nigeria, so farmers can harvest with good profit instead of complains, because people are actually backing out of agriculture after their second or third harvest. I believe in creating solutions to problems. So, I usually formulate an organic booster which I use for myself and also sell to my customers who buy seedlings from me. The booster helps their livestock grow bigger in a short period. I also connect them to potential buyers like the fast foods, hotels and the rest.
Competition
There is no competition in agribusiness. In fact, if you try to please the market against your fellow, you stand to lose heavily.
Profitability
I am not only based on fish farming, as my company name explains, but the profitability in agribusiness depends on the managerial input invested. One needs to know what to do and do them for you to see good profits. I can say that 60 per cent to 70 per cent returns is sure in any area of the business you find yourself.
First in the catfish hatchery line, the profit is like a bomb, but the result when hatched and how you manage it is what matters. For you to realise good profit in the area of hatchery, you must have hands-on training. Such training could be done physically or online. The area you encounter loss in the hatchery is if the climate goes bad. Others include water acidity, high level of pathogen, and few others, some of which can be controlled, but if one has no understanding of all this, you may likely not stand it. Secondly in the area of melange line, the melange is locally known as the smoking size. The profit in this sector depends majorly on space provided for the number of fishes being stocked. One is expected to harvest melange size in three months from fingerlings stage, but when you over-stock them, they will linger in growth and extend the duration. Feeding is also involved. One must know how much it costs to feed a fish to maturity before you even start. So, with this, you will estimate your budget to the number of fishes you can comfortably raise. Thirdly, in the area of grow-out section, one is expected to raise the fishes for six months from fingerlings, but the majority of farmers think it to be just four months. With this, they raise the fishes without getting to its maturity stage. This will highly incur big loss when harvested. The poultry sector is also a profit bomb when managed very well. The broiler, cockerel and noiler that provide meat, and the layers that provide both eggs and meat. They are highly profitable. Broilers are harvested between six to 12 weeks, depending on the demand. So, I do more broiler because of its period for harvest, and I realise at least 65 per cent percent profit after initial capital.
Empowerment and training
For training, I have trained so many persons and organisations. Sometimes, I go on radio to call for seminars which I charge stipends. I have financially empowered 32 persons who trained under me to start their own. I teach, I consult, and I do free seminars sometimes to help those who have no cash to learn. Then I give out funds to a cooperative consisting of five persons. i don’t ask for refunds actually. Samdiri Integrated Farms also offers its services in a full scale as we have in time past worked with well-meaning Nigerians, corporate bodies, NGOs’s, local and state governments in training, sensitising and setting up farms in different geo-political zones of the country and some African countries, including the Republic of Gambia, Sierra Leone, Benin Republic and the Republic of Rwanda. Over the last seven years, our company has helped set up farms both in subsistence and commercial scale to the tune of 378 farms spanning across five geo-political zones of the country. This margin covers over 43,000 hectares of land and is still and always counting.
Loan facility
No, I haven’t ever applied for any loan for business expansion. The reason is because I know and I am fully convinced that the Nigerian government can never think of such towards her citizens, especially to farmers in the South-south and South-east regions. There was a time I approached the bank for a loan of N15million with a collateral worth over N20million. The bank refused accepting my proposal. So, I no longer have any intention of securing a loan, no matter what.
Intervention
Government should first believe and understand there are entrepreneurs who are working very hard to create jobs and establish lives as well. Then, with that, they will know the right things to do, which I believe they already know. They should create an avenue where entrepreneurs can get access to funds without stress and deferring hopes. Also, let there be constant power supply as to cut cost of services and production. Government should financially encourage farmers. They should set a bill to secure our crops from hoodlums called herdsmen. They should provide import or generate more raw materials so as to cut cost of production in Nigeria, because this is the major challenge to farmers right now.
Best practices
Nigeria is still lagging behind, especially in terms of good mechanism, feed production, and even at the point of accepting the fact that agriculture can employ 99.5 per cent of Nigeria’s population. People have to wake up and diversify into this great sector. I would also plead with the government to allow importation of other livestock species by individuals, since they cannot do it on their own, to promote the agricultural sector of our great nation.