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Bukola Mustapha

Bukola Mustapha

Nigerian aquaculture entrepreneur, founder and CEO of Bukky's Farm, a fish farming business in Lagos, Nigeria.

Sep 3, 2026

7:11
so it might lead to their extension and number two is that they might get to meet with the white fish and pollute the whole population so in that way we are not able to have pure gene pool and we can also have genetic pollution what do you think about it
7:30
although i've not done much research or maybe there are no much research i've read about it but i know for a fact that there are two practices in uh actually whereby when the fish are not doing so well when you don't expect the the exact um number most farmers just flush they will say let's flush out this fish uh let's flush out this production even if the fish is maybe under they flush it and it enters into the drainage and all and yes i would agree with what we started said about them going into the other uh water bodies maybe a stream or a river nearby and yes they survive and also compete with the nutrient and all of that but the survivor rates might not it could be maybe 5% it could be less than 5% because they may not be built for the environment they are going into so imagine them a catfish going into a marine environment they will die so until a proper study is being done to show if they're actually surviving maybe a monetary test that will maybe pick from the point in which the farmer is discharging them and monitor them all through so wherever they are going to like the destination so it's going to be a a hard word to monitor but yes it happens where farmer have to discharge some of their fish into the drainage or probably the fish escapes yeah it happens but they have not been uh uh a standard test or a standard research to show that okay this is from point a this is also swam and that escaped into the river and yes so if we are not monitoring that way we can't ascertain
9:23
okay now so let's go into the fish production space itself um many people say the fish production space right now is absolute madness right talking about the cost you know cost of feed cost of energy and all that i just want you to give us your own assessment of just brief assessment
9:47
so i would agree with the person who said the fish space is madness right now because at some point earlier this year the feed prices started dropping and now everyone was happy good news so we can at least get uh profits at least maybe 20 percent margin and all of that but right after that the full price went up and that increased the total and the cost of production to almost 100 but especially people who are using maybe uh tanks uh concrete ponds or sapling it's increased the cost of production but people who are still using etin ah congratulations to them because yeah they're still the one making um profit right now anyone who is using etin is making profit but i would i doubt concrete and every other one because the cost of well to change the water right now it's a liter is about a thousand three hundred or thousand three fifty and that's a lot using that calculating it you might not get your 20 percent uh eventually and again one of the other problem we have is the price of the fish it has always been a challenge where we don't have a unity price a a uniform price for the fish.
11:02
A farm is selling at 3,000, another farm is selling at 4,000, another farm is selling as low as 2,000.
11:10
And this happens because not because we have a different cost of production but because most farmers don't keep record and when you don't keep record you can't know if you are making profit or loss but when you keep adequate record you know that i'm selling at the loss and i would not want to sell at the loss and right now catfish is still the cheapest in nigeria compared to other frozen imported fish in Nigeria currently and it's a real problem it's one thing to produce it's another thing to get the market for what you are producing and getting a profit from that production and that's what we are currently facing right now in aquaculture catfish farming in Nigeria the market is bad low price and to get people who would buy from you it's also a struggle

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