Tilapia fish farming in floating water cages is one of the fastest-growing aquaculture systems in Nigeria, particularly around the Lagos Lagoon. The lagoon provides stable water exchange, ideal temperature ranges (26–30°C), and natural plankton that supports fish growth and reduces feed costs.
The Case Study is based on 1 standard floating cage unit with partition, stocked with 1,000 tilapia juveniles, grown to market size over 5–6 months. Tilapia has high market demand in Lagos due to its mild taste, affordability, and suitability for grilling, frying, and processing.
Cage aquaculture is preferred in this region because it requires low land area, has predictable yields, and operates with minimal environmental impact.
Increase local tilapia supply and reduce dependence on imported frozen tilapia.
Generate steady income for participants within one production cycle.
Utilize Lagos Lagoon sustainably through low-impact cage aquaculture.
Produce premium-quality live tilapia for Lagos markets, restaurants, and processors.
The project uses a floating cage culture system installed in a calm area of the lagoon. This system allows us to culture tilapia in clean, oxygen-rich water while maintaining control over growth, stocking, and feeding.
The selected site meets the following minimum conditions:
Water Depth: 3–5 metres, allowing free water movement under the cage.
Current Speed: Gentle flow to bring oxygen but not enough to stress fish or damage nets.
Accessibility: Easy to reach by boat for daily feeding, monitoring, and night checks.
Human Activity Level: Low risk of disturbance from fishermen or boat traffic.
Environmental Suitability: No discharge points, waste outlets, or pollution sources nearby.
We monitor basic water quality every week and also after heavy rain or flooding, as changes in the lagoon can affect fish health and feeding behaviour. The key indicators we track are:
Dissolved oxygen (4–7 mg/L): Needed for healthy growth and efficient use of feed.
Temperature (26–30°C): The ideal range for tilapia activity and appetite.
pH level (6.5–8.5): Keeps the fish comfortable and reduces stress.
Water transparency (30–60 cm): Helps indicate balanced algae levels and overall water condition.
If any value falls outside the ideal range, we act quickly by adjusting feeding levels, cleaning nets to improve water flow, removing debris, or adding aeration when necessary.
Field staff visit the cage daily for feeding and security checks, with additional monitoring during rainfall and tidal changes
Each cage is made of:
HDPE floating pipes (UV resistant)
Heavy-duty netting with 10–12 mm mesh
Anchor system to prevent drifting
Bird and predator cover net
We stock 1,000 healthy tilapia juveniles of 10–20 g each. Fish are sourced from certified hatcheries to reduce risk of poor-quality seed.
The stocking density (~25–30 fish/m³ depending on cage size) ensures:
Good oxygen availability
Low stress levels
Better survival
Better feed conversion
This density is suitable for small-scale cage systems and promotes predictable growth.
Feed is given 2–3 times daily, depending on temperature and appetite. Feed size increases with fish age:
0.8–1.5 mm (early stage)
2 mm
3 mm
4 mm
6 mm
9 mm (final grow-out stage)
Feed quantity is adjusted based on body weight sampling and expected growth curves.
Every 2 weeks:
20–30 fish are collected in a scoop net
Weight and size are recorded
Feed adjustments are made accordingly
Health and body condition are observed
KPIs tracked:
Average weight gain
Survival rate
Feed Conversion Ratio (FCR)
These indicators help compare planned vs. actual performance. The target market size is 350–450 g per fish, depending on buyer preference.
Dead fish are removed immediately and recorded.
Hands, nets, and tools are washed before use.
Visitors are limited around cages.
Nets are disinfected during scheduled cleanings.
Feeding is monitored closely to detect abnormal behaviour early.
This section summarises the estimated cost and revenue for one 6-month production cycle of 1,000 tilapia in a floating cage system.
The detailed cost breakdown is shown in the spreadsheet link at the end of this section.
Number of juveniles stocked: 1,000
Mortality rate: 17.3%
Survival rate: 82.7%
Fish harvested: 827
Average final weight: 0.42 kg
Total biomass: 347.34 kg
Expected growth period: 6 months
Feed Conversion Ratio (FCR): 1.1–1.4 (industry typical)
Estimated total feed usage: 381–486 kg
Selling price used in model: ₦4,000/kg
Lagos selling price range: ₦3,500–5,000/kg depending on season
Sales method: live or freshly harvested fish
40–60% pre-orders targeted to reduce sales risk
Major cost driver is feed (≈ 80% of total feed-related expenses)
Labour/security: 6 visits per month
Cage & net cleaning every 2–3 weeks
Transport/logistics included in operational cost
These projections are based on current feed prices and prevailing tilapia market conditions in Lagos at the time of writing.
(Full details shown in table at the end.)
Total Cost of Production: ₦1,195,000
(including feed, juveniles, maintenance, security, and logistics)
Total biomass: 347.34 kg
Selling price: ₦4,000/kg
Total Revenue: ₦1,389,360
Net Profit: ₦194,360
Profit Margin: 16.26%
Breakeven Price: ₦3,439 per kg
Profit per kg of fish: ₦560 per kg
Annualised ROI: ~35%
Using the same survival and biomass:
₦3,500/kg: ~₦20,000 profit — near breakeven.
₦4,000/kg: ~₦194,360 profit — base case.
₦4,500/kg: ~₦368,000 profit — high-demand period.
₦5,000/kg: ~₦541,000 profit — premium retail/restaurant price.
These scenarios show how sensitive profitability is to selling price and reinforce the importance of securing higher-value buyers.
The model shows that a 1,000-fish tilapia cage can achieve a 16% profit margin under normal market conditions. Profitability depends mainly on:
Feed cost
Survival rate
Selling price at harvest
Water conditions during the rainy season
This case study provides baseline KPIs for comparing planned vs. actual performance during implementation.
The project is feasible, but requires consistent monitoring, good record-keeping, and strong market relationships to maintain profitability.
Target Markets:
- Makoko fish traders.
- Ikoyi, Lekki, and Ajah restaurants.
- Local grill spots (“point & kill” joints).
- Fresh fish retailers in Bariga, Oworonshoki, and Obalende.
- Home delivery via WhatsApp and Instagram.
Marketing Actions:
- Sell live fish directly from the lagoon.
- Build partnerships with joints offering “Point & Kill Tilapia”.
- Pre-sell 40–60% of stock before harvest.
- Offer discounts for bulk purchases.
1. Water Pollution / Low Oxygen
Risk:
Lagoon pollution, runoff, or sudden oxygen drops.
Mitigation:
Place cage in low-traffic, aerated area.
Monitor dissolved oxygen (especially early morning).
Avoid overstocking.
2. Net Damage / Fish Escape
Risk:
Birds, crabs, sharp debris, boat movement.
Mitigation:
Use HDPE frames and high-quality knotless netting.
Inspect nets daily.
Install predator nets on top.
3. Predators
Risk:
Birds, reptiles, large fish.
Mitigation:
Use top netting and secure side nets.
Keep cage fully enclosed.
4. Raining Season
Risk:
Storms / Rough Water /High Water Level.
Mitigation:
Anchor cage with strong mooring ropes.
Choose protected lagoon zones.
Use wave-resistant cage design.
5. Feed Price Volatility
Risk:
Feed Price Increase.
Mitigation:
Buy feed in bulk.
Use natural plankton advantage in lagoon water.
Optimize feeding schedules.
6. Theft / Vandalism
Risk:
Especially at night.
Mitigation:
Recruit reliable night watch/security.
Place cages in community-monitored areas.
Use padlocked feed store and tamper-proof cage designs.