Applications of a rapid appraisal approach to identify locally available feed ingredients in feed formulation, production, and socio-economics of Nile tilapia aquaculture in Bangladesh are discussed. Three diets of 35%, 30%, and 25% crude protein were formulated using locally available ingredients, and their essential amino acid profiles were assessed for Nile tilapia. Six production scenarios were constructed using these diets and two culture periods of 100 and 150 days were considered. The production scenarios with 35% protein yielded the highest productivity and profitability over the 150-day culture period followed by the 30% protein scenario. Identification of locally available ingredients and their application in small-scale Nile tilapia aquaculture may lead to: (1) increased availability of inexpensive sources of fish production for poor people; (2) increased fish consumption; (3) increased self employment and involvement of women in productive activities; and (4) increased household income to reduce poverty.