Socioeconomic analysis of fish farming in Ogun State, southwest Nigeria
2013
Olasunkanmi, J.B.
Fish farming as an economic activity in Nigeria is predominantly an extensive land based system practiced at subsistence level in water. The socio-economic analysis of fish farming in Ogun State, South-Western Nigeria was carried out using data collected from sixty randomly selected fish farms. Data were analyzed using descriptive statistics, costs and returns, as well as regression analysis. The relationship between fish output and five inputs: feed, fertilizer, lime, labour and fingerlings were measured using Cobb-Dou production model. Results suggest that a unit increase in feed application contributed 68 percent increase to the profitability of the farms and this was significant at p<0.1. Also, fertilizer was significant at p<0.05, the results suggest that a unit increase in fertilizer application contributed 5l percent increase to the profitability of the fish farms. The model explained 79% of the variation in total output. On the whole, fish farming was found to be profitable with a benefit-cost ratio of 1.23 and the rate of return on investment is 0.19. It is recommended that fish farmers in the study area should increase their use of feed, lime and fingerlings and decrease their use of fertilizer and labour. Socio-economic characteristics of fish farmers showed that most of them were males, married and middle aged with formal education.
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This bibliographic record has been provided by Fisheries Society of Nigeria