| ID: | 82766 |
|---|---|
| Country: | Nigeria |
| Title: | Nigeria - Livelihood Improvement Family Enterprises, Niger Delta (LIFE-ND) – November 2023 |
| Description: |
Lanre Adekunle, 36, operates an application to log all his daily fishery activities, including pond construction and maintenance costs, feed expenses, purchases of fingerlings for pond stocking, and sales data. With this system, he maintains a clear understanding of his daily expenses and net profit, providing him with precise financial insights at any given time. “If you are doing a business like this, you need to keep records. You have to know what you are putting into the business, and what is coming back to you,” explained Lanre. “With the money I am making, I reinvest into the business so that it can grow bigger.” Lanre, 36 years old, underwent a transformative journey through the IFAD-supported LIFE-ND fish production and processing training program. Starting with minimal knowledge in fish farming, Lanre progressed to establish Lantech Farms and became a LIFE-ND incubator, currently mentoring LIFE-ND-designated incubatees. “When IFAD saw my performance, and the zeal and passion that I have for fish farming, they picked me to be an incubator,” told Lanre. “At the end of their training, my incubatees will all be able to stand on their own as fish farmers.” The thriving farm, which Lanre started in 2021 with four ponds, has continuously expanded, and today has nine stream-fed ponds stocked with more than 25,000 kilograms of catfish and tilapia – about 8,000 catfish of various breeds, and almost 20,000 tilapias. In the first nine months of 2023, he has harvested 4,500 kilograms. His catfish sell for about 1,500 Naira (US$ 1.75) while tilapia, which are less common in Nigeria, sell for as much as Naira 3,000 per kilogram. He allows shooters, or faster-growing fish, to grow to table size, reaching about 1.5 kilograms or more in five months before selling it. He smokes the smaller fish that show less capacity for weight gain (1 – 1.5 kilograms) in drying kilns. “Producing fish makes money. But, if you process it, you double the money. So, I have chosen to produce and process fish to maximize my profits,” explained Lanre. Before LIFE-ND, Lanre struggled with unstable income, but now his fish farming enterprise sustains his family, enables him to pay for his children's education, and ensures food security. A bonus from the LIFE-ND training? Learning about nutrition and balanced diets. Lanre learned, and now teaches his incubatees, how to cultivate vegetables and even rice around the fishponds, utilizing nutrient-rich pond water to fertilize gardens. This sustains their families and provides a secondary income through sales. Lanre's success story embodies financial independence and happiness, attributing his transformation to the LIFE-ND program and IFAD's support and elevating him from humble beginnings to a thriving entrepreneur. “I can boldly say now that I am financially independent, and I am the happiest person in the world. I do things on my own. The way I was before and the way I am now—I can say that now I am a big boy! Thank you, IFAD.” Lanre stated. The IFAD-funded Livelihood Improvement Family Enterprises – Niger Delta (LIFE-ND) project in southern Nigeria helps rural youth and women make a living from agriculture. The project uses an incubator model to help unemployed or underemployed rural youth and women develop entrepreneurial skills, enabling them to sustainably enhance their incomes and food security, and embrace agriculture as a business. The goal of LIFE-ND is to transform the rural economy of the oil-rich Niger Delta region by harnessing the potential of agriculture to create income-generating activities for 25,500 rural young people, women-headed households, and people with disabilities (incubatees). Incubatees are mentored by established private-sector incubators along key agricultural value chains. |
| Size: | 8.34 MB; 6480 x 4320 pixels; 549 x 366 mm (print at 300 DPI); 1714 x 1143 mm (screen at 96 DPI); |
| Show more details: | Andrew Esiebo |
| Copyright: | ©IFAD/Andrew Esiebo |
| Categories: | none |
| URL: | www.ifad.org |
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