Fish farming

Jesse

Afikpo, Nigeria

125% paid forward

Entrepreneur

Name

Jesse

Member since

July 2021

On-time repayments

9 installments  •  44%

About Me

My name is Jesse Ogbonnia Oko, a Nigerian farmer from Afikpo North LGA of Ebonyi State of Nigeria.
I am 46 years old.
Married currently living in Umuahia Abia State

My Business

I am into full time agriculture.
I produce crops and animals,
Currently I am running a 50,000 capacity of fish pond in The National Roots Crops Research Institute Umudike Abia State.
I also produce Cassava in large quantity and process for sales.

Project Proposal

This loan will be used for aquaire more juveniles and feed for the fish pond.
It will also be used for payment of workers salaries.

Feedback

None

None

None

Project Info

Project Type

Pay It Forward

Disbursed amount

$27.00

Date disbursed

Aug 21, 2021

Backers

Laurine

Bungoma, Kenya

Ask Jesse a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Jesse    Dec 12, 2021

    It's been difficult trying to pay with my Access Bank account, can I pay through my GTB account? Thanks

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  • Jesse    Nov 30, 2021

    Good morning Sir, I have not been delaying in the repayment of my loan, kindly permit me to pay as soon as I am done with the hospital cases in hands.
    Zidisha is not a platform to play with, it's has so seriously helpful to me.
    And I have always been up to date in my repayment but for this time. Thanks Jesse Ogbonnia Oko

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  • Jesse    Nov 16, 2021

    Good evening sir,
    I am very much aware of my due repayment loan, but I can't do anything now due to some challenges that took me out of my base. I promise to pay all my loan as soon as possible.
    Kindly bear with me. For I have never defaulted before and I promise not to default again.
    Thanks.
    Jesse Ogbonnia Oko

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  • Jesse    Oct 11, 2021

    Dear funders, thanks for your help, I have just received the sum N16060..
    Thanks

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  • Jesse    Oct 9, 2021

    My dear funders,
    I will be using the funds to buy fingerlings and feed.
    I promise to pay back the money as soon as possible.
    Thanks for your kindness.
    Jesse

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  • Jesse    Sep 28, 2021

    It's been my pleasure being in this platform of funds Lenders,
    But at this juncture any loan lower than 4 million naira, might really not do much for me, because of the present status of my 50,000 capacity fish farm. I truly will appreciate it if my loan is upgraded.
    Thanks.

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  • Jesse    Sep 18, 2021

    Dear funders,
    Permit me to use this opportunity to thank you all for your funds given to me to advance my farm.
    Please due to the nature and volume of my fish ( 50,000 capacity ) farm, may I humbly appeal for an upward review of my loan to enable me do something more meaningful with the loan.
    My required capital is the sum of N36,000,000.00.
    I will be glad if my loan can be reviewed to between N4,500,000 to N5,000,000.
    I promise to repay the said amount within 5 months.
    Thanks for your consideration.
    Yours Sincerely.
    Jesse Ogbonnia Oko
    08036704810

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  • Jesse    Sep 8, 2021

    Thanks to all my funders, I received the sum of N16,060.

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  • Jesse    Sep 7, 2021

    My dear funders, may I use this opportunity to say a big thank you to you all, and also inform you that the fund will be used to additional feed for my fish.
    This feed will last at least for 24 hours before I buy another feed.
    Once again thank you for coming to my aid.

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  • Jesse    Sep 7, 2021

    Though I'm into a very large (50,000) fishes capacity farm which requires bigger loan, the amount I have been getting as loan has been off tremendous help to me in some vital ways. I wish my loan limit be stepped up reasonably to enable me progress rapidly in order for me to help others. Thanks

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  • Jesse    Aug 23, 2021

    This is to confirm the receipt of the same N10,706 as loan and promise to use to advaymy farm activities. Thanks

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  • Jesse    Aug 21, 2021

    May I use this opportunity to say a big thank you to all my funders, this fund will be used to pay for my employees also buy some feeds for my fishes. Once again thank you so much.

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  • Jesse    Aug 20, 2021

    The previous loans helped me a lot.

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  • Jesse    Aug 4, 2021

    I want say thank you to all the people who funded my project and to promise them that I will use the loan judiciously.
    I will in the nearest future fund other people's projects. Thanks

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  • Jesse    Aug 4, 2021

    I want to use this opportunity to say a big thank you to all my Lenders, it so helped me in adding some feeds into my fish farm. Once again thank you all.

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  • Jesse    Aug 3, 2021

    Attn: PROSPECTIVE OWNER AND INVESTOR     

    Sir,
    PROPOSAL TO INVEST IN CONCERN (AF-N) FARMERS MULTI PURPOSE COOPERATIVE SOCIETY 50,000 CAPACITY FISH FARMS
    We are pleased to submit this proposal for investment in our 50,000 capacity fish farm that is managed by Concern (AF-N) Farmers Multi-Purpose Cooperative Society Limited.
    ABOUT THE PROJECT/INVESTMENT
    Concern (AF-N) Farmers Multipurpose Cooperative Society Limited have acquired 50,000 capacity fish farm under public private partnership with National Root Crops Research Institute Umudike Abia State and all necessary documentary agreement signed to commence the project.
    The cooperative is looking at bringing interested investors with a willingness to make an investment in the fish farm project together who wishes to invest 2,000,000 naira and above, then make a profitable return on the money invested within the next one year based on the capital invested. Every invstor will have a share in the profit of the cooperative based on capital invested.
    BENEFITS OF INVESTING WITH THE COPERATIVE
    You get a guaranteed 10% returned on your investment per annum guaranteed regardless of returns of the general investment
    You invest with rest of mind as the cooperative manages your investment
    You become a co-owner of the business and make money with ease without much pressure on yourself as you invest in it
    Legal documents are signed between the investor and the cooperative to secure your investment and boost the investors’ confidence in the project

    OUR MAJOR PRODUCTS AND SERVICES
    Fish farming
    smoked fish processing, packaging and wholesale/retail distribution
    Animal feed production (fish and poultry feeds)
    Cassava and Rice farming/processing
    Export of processed smoke fish
    General Consultancy services and training of farmers
    OUR VISION
    Our vision is to become one of the leading fish farmers and smoked fish business in Nigeria renowned for promoting a healthy well balanced eating within the society.
    TARGETS AND GOALS
    Operate and manage effectively the 50,000 capacity fish farm before the end of 2021
    Maintain excellent rating (90%)  in fish production and processing
    Hit a Revenue target of N70 Million Naira in 2022
    Bring best minds and motivated staff to pilot the operations of the cooperative
    Establish new business opportunities within the agricultural sector that is profitable.
    Minimize operational expenses and attain a return on investment higher than the cost of capital invested in the business
    Improve the income level of all stakeholders in the business
    REVENUE PROJECTIONS
    COST IMPLICATIONS FOR FIFTY THOUSAND (50,000) FISHES (10%)
    From the financial analysis the net amount required for the Aquaculture project is t
    FIXED EXPENDITURE + RUNNING COST
    3,436,500 + 28,753, 750 = N32, 460,250

    ESTIMATED INCOME FOR THE 1st BATCH
    Using 10% mortality = 45,000 fishes
    Using N1,000/kg as the prevailing market price
    Average weight of fish attained = 1kg
    Gross income for first (1st) batch =
    1,000 X 45,000 = N45,000,000
    Net profit = Gross Income – Total Cost
    45,000,000 – 32,460,250 = N 12,539,750
    ESTIMATED INCOME FOR THE 2nd BATCH
    Using 10% mortality = 45,000 fishes
    Using N1,000/kg as the prevailing market price
    Average weight of fish attained = 1kg
    Farm store taken care of = N520,000
    28,753,750 – 520,000 = N28,233,750
    Income for Second (2nd) batch =
    1,000 X 45,000 = N45,000,000
    Profit = Income – Total Cost
    45,000,000 – 28,233,750 = N 16,766,250

    ESTIMATED INCOME FOR THE 3rd BATCH
    Using 10% mortality = 45,000 fishes
    Using N1,000/kg as the prevailing market price
    Average weight of fish attained = 1kg
    Farm store taken care of = N520,000
    28,753,750 – 520,000 = N28,233,750
    Income for Third (3rd) batch =
    1,000 X 45,000 = N45,000,000
    Profit = Income – Total Cost
    45,000,000 – 28,233,750 = N 16,766,250

    ANNUAL INCOME FOR THE AQUACULTURE PROJECT
    1st batch + 2nd Batch + 3rd Batch =
    12,539,750 + 16,766,250 + 16,766,250 = 46,072,250
    This represents the total amount we stand to get assuming we do no other business during the period. Whereas we have a high opportunity to harness other funds through other trainings after each school had dismissed.
    INFRASTRUCTURES AND EQUIPMENT REQUIREMENTS
     These are the infrastructural requirement to get the 50 capacity fish pond working.
    STRUCTURAL WORK FOR THE REVAMPING OF FISH POND
    S/NO
    DESCRIPTIONS
    QTY
    UNIT COST (N)
    TOTAL (N)

    1.
    Stony Laterite
    20 trips
    18,000
    360,000.00

    2.
    Sluice gates
    40 pcs
    6,000
    240,000.00

    3.
    Repair of monk (2 Nos):
    Cement
    Sand

    3bags (4,000)
    12 bags (1,000)


    24,000


    24,000.00

    4.
    2’’ galvanized pipe
    25 Nos
    5,500
    137,500.00

    5.
    Lime
    5 bags
    24,000
    120,000.00

    6.
    6’’ galvanized pipe
    2 Nos
    20,000
    40,000.00

    7.
    1’’ Wire gauze
    10 rolls
    15,000
    150,000.00

    8.
    1 Finger fishing net
    20 rolls
    40,000
    800,000.00

    9.
    Pegs and marine rope
    30 rolls
    3,000
    90,000.00

    10.
    Poultry droppings
    30 bags
    500
    15,000.00

    11.
    Empty cement bags
    300 bags
    100
    30,000.00

    12.
    Workmanship
    Lump
    130,000
    130,000.00

    13.
    Clearing of ponds and its surrounding/Channels
    Lump
    1,300,000
    1,300,000.00


    SUB-TOTAL

    3,436,500
    3,436,500.00

    Amount in words: Three Million Four Hundred Thirty-six Thousand, Five Hundred Naira only.
    COST OF PROJECT:
    This is the cost implication of setting up the fish farm which was broken down into 3 phrases
    FINANCIAL IMPLICATION FOR FIFTY THOUSAND (50,000) FISHES
    S/N
    DESCRIPTIONS
    QTY
    UNIT COST (N)
    TOTAL (N)

    1.
    Feed
    3,336.5 bags
    75,000
    25,023,750.00

    2.
    Fish
    50,000
    50
    2,500,000.00

    3.
    Workers’ wages for 6 months
    5 persons
    85,000
    510,000.00

    4.
    Pond maintenance
    Lump
    200,000
    200,000.00

    5.
    Farm store (container)
    1
    520,000
    520,000.00


    SUB-TOTAL


    28,753,750.00


    Structural work brought forward


    3,436,500.00


    GRAND-TOTAL


    32,460,250.00

    Amount in words: Thirty-two Million Four Hundred and Sixty Thousand two hundred and Fifty Naira only
    FINANCIAL IMPLICATION FOR THIRTY THOUSAND (30,000) FISHES
    S/N
    DESCRIPTIONS
    QTY
    UNIT COST (N)
    TOTAL (N)

    1.
    Feed
    1,999.5 bags
    7,500
    14,996,250.00

    2.
    Fish
    30,000
    50
    1,500,000.00

    3.
    Workers’ wages for 6 months
    5 persons
    85,000
    510,000.00

    4.
    Pond maintenance
    Lump
    200,000
    200,000.00

    5.
    Farm store (container)
    1
    520,000
    520,000.00


    SUB-TOTAL


    17,726,250.00


    Structural work brought forward


    3,436,500.00


    GRAND-TOTAL


    21,162,750.00

    Amount in words: Twenty-One Million One Hundred and Sixty-two Thousand Seven hundred and Fifty Naira only
    FINANCIAL IMPLICATION FOR TWENTY THOUSAND (20,000) FISHES
    S/N
    DESCRIPTIONS
    QTY
    UNIT COST (N)
    TOTAL (N)

    1.
    Feed
    1,333 bags
    7,500
    9,997,500.00

    2.
    Fish
    20,000
    50
    1,000,000.00

    3.
    Workers’ wages for 6 months
    5 persons
    85,000
    510,000.00

    4.
    Pond maintenance
    Lump
    200,000
    200,000.00

    5.
    Farm store (container)
    1
    520,000
    520,000.00


    SUB-TOTAL


    12,227,500.00


    Structural work brought forward


    3,436,500.00

    KEY PERFORMANCE INDICATORS (KPI) IN THE FIRST ONE YEAR
    Pay back our initial investment in Business--------------------------------100%
    Give value to our partners and investors by making at least 40% profit on their investment
    Manage the facilities and ensure steady growth of the business

    INVEST IN THIS GREAT VISION
    A lot of people desire to become millionaires and have a secured future but don’t know how to. Now you don’t need to worry as our cooperative will lead you to your desired future without you carrying any pressure. You will gain better by investing your money than saving it. Even if you are saving the money in the bank to solve a problem or to grow your capital, the bank cannot give you that kind of return on your investment that this project will give you. When you invest with us, you can get your money (interest and capital) back within one year. Fortunately, you will get the money back in increase than decrease when it is left in the bank.
    ABOUT THE COPERATIVE MANAGEMENT STRUCTURE
    Concern (AF-N) Farmers Multi-Purpose Cooperative Society Limited has a seasoned management team who has been involved in agro business initiatives at various levels. They are trained and equipped with the vision to transform the face of decadence in our agribusiness having been exposed to the gains of agricultural sector over the years.
    Concern (AF-N) Farmers Multi-Purpose Cooperative Society Limited is an agro multipurpose cooperative society registered in Nigeria with the aspiration to be a one-stop shop in agricultural production. Our products and services include and not limited to fish farming, smoked fish processing, packaging and wholesale/retail distribution across Nigeria with backward integration of going in livestock and consultancy services, training of farmers, production and sales of poultry feed, fish feed, egg and fish (juvenile and table size) production. We are working together in harmony with team spirit oriented business culture that enhances individual creativity, innovation, teamwork, perseverance and productivity in term of results driven and materializing value added achievements of the business. We are out to make the fisheries industry a passionate and rewarding venture and also make fish affordable to all classes of the society. Concern (AF-N) Farmers Multi-Purpose Cooperative Society Limited is registered with the Cooperative with 100 members.


     CONCLUSION
    Feel free to discuss with us on the partnership agreement terms and get clarifications on any issues.
    We look forward to a mutually beneficial business relationship.
    Thank you
    Yours Faithfully,
    Oko Jesse ogbonnia
    For: Concern (AF-N) Farmers Multi-Purpose Cooperative Society Limited

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  • Jesse    Aug 2, 2021

    My Dear Lenders may I use this opportunity to thank you all for the loan of N4,823.00 granted to me last week.
    I promise to continue to use it judiciously and to repay the loan in due time.
    Thanks and God bless you all richly.
    Oko Jesse Ogbonnia

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