‘Panyam Fish Farm can generate N1.7bn, needs N2.5bn to revive it’

The Plateau State government said on Monday that Panyam Fish Farm could generate N1.7 billion annually and needed N2.5 billion to revive it.

Steven Barko, the state commissioner for agriculture and natural resources, said this in an interview with the News Agency of Nigeria (NAN) in Jos.

Barko said that the farm, located in Mangu Local Government Area of the state, had great revenue potential and could repay the N2.5 billion in two years.

He said the farm would have been operational by now but expressed regret that funding remained the greatest challenge.

The commissioner said that the state had spent the past one year looking for investors to partner with it to resuscitate the farm with little success.

“I would have kicked-off the Panyam Fish Farm by now, but I am still looking for funds for the past one year. I have been going around, looking for investors to partner with and revive the farm.

“The feasibility studies are completed and the farm’s revenue potential is great. With the projected N1.7 billion as annual revenue, the farm can pay off the N2.5 billion in two years.

“The farm, which spans 309 hectares, can produce 3,900 tons of fish annually and more than 10 million fingerlings could also be raised there”.

“It also has the potential to generate employment as so many people would be engaged in different activities.”