Advances in Aquaculture and Fisheries Management

Advances in Aquaculture and Fisheries Management ISSN: 9424-2933 Vol. 6 (4), pp. 001-008, April, 2018. © International Scholars Journals

Full Length Research Paper

Economic performance of crab fishery in Lagos lagoon, Nigeria

Adeogun O. A.¹*, B. B. Solarin¹, H. K. Ogunbadejo¹, E. E. Ambrose¹, O. R. Akinnigbagbe¹, A. A. Ajulo¹, Bolaji D. A.¹, O. A. Olusola¹ and M. O. Adeogun²

¹Nigerian Institute for Oceanography and Marine Research, 3 Wilmot Point Road, Victoria Island, Lagos, Nigeria.

²Federal College of Fisheries and Marine Technology, 2 Wilmot Point Road, Victoria Island, Lagos, Nigeria.

Accepted 11 January, 2018

Abstract

The study evaluates the economic performance of small-scale crab fishery operations in terms of economic indicators and success performance during 2009 and 2010 fishing season in five lagoon systems in Lagos state. The objectives of the study were to state economic viability of the crab fishing activity and to identify factors influencing the cost structure. Initial analysis reveals that a large variation in cost structure exists in the crab fishing in Lagos lagoon. Economic results of the study showed that small-scale crab fishing have a positive net profit and fully recover their costs, with no losses. The net cash flow, economic and financial performance of the crab fishers was very satisfactory. The result shows that increasing catch decreases costs implying that scale and improving efficiency is key to reducing cost.

Key words: Crab fishery, economic viability, economic performance, returns on capital, Lagos lagoon.