Economic analysis of fish farming in Ogun State

Adewumi, M.O. and Ayinde, O.E. and Oladeinde, O.A. and Muhammad-Lawal, A. (2005) Economic analysis of fish farming in Ogun State. In: 19th Annual Conference of the Fisheries Society of Nigeria (FISON) , 29 Nov - 03 Dec 2004 , Ilorin, Nigeria.

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Abstract

This study examined the economic potential of fish farming in Abeokuta zone of Ogun State in the 2003 production season. Descriptive statistics cost returns and multiple regression analysis were used in analyzing the data. The farmers predominantly practiced monoculture. Inefficiency in the use of pond size, lime and labour with over-utilization of fingerlings stocked was revealed by the study. The average variable cost of N124.67 constituted 45% of the total while average fixed cost was N149.802.67 per average farm size. Fish farming was found to be a profitable venture in the study area with a net income of N761, 400.58 for an average pond size of 301.47sq.m. Based on these findings, it is suggested that for profit maximization, the fish farm will have to increase the level of their use of fingerlings and fertilizers and decrease the use of lime labour and pond size

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