Investment prospects in inland capture fisheries -- revolving loan scheme to artisanal fishermen

Eyo, A.A. and Ita, E.O. (1987) Investment prospects in inland capture fisheries -- revolving loan scheme to artisanal fishermen. In: 5th Annual Conference of the Fisheries Society of Nigeria (FISON) , 22-25 September, 1986 , Ilorin, Nigeria.

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Abstract

Fishing inputs in the form of the netting materials, boats and outboard engines were issued to 20 fishermen on revolving loan basis at 2 centres - Shagunu. and Monai along the western bank of Kainji Lake, Nigeria. The agreement was that the recipients should sell all their catches to the Institute and surrender 20% as part payment of the loan, until they offset the loan after which the inputs would become theirs'. The scheme was monitored for 5 years during which time most recipients had completed payment. It was observed that adequate revenue could be made from the scheme provided there was effective supervision. A proposal has been made for large scale supply of fishing inputs to one hundred fishermen. The scheme is laudable as a means of improving the lot of the fishermen and implementing management proposals in water bodies through the recipients

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