ISSN 2167-0447
International Journal of Agricultural Sciences Vol. 2 (1), pp. 059-066, January 2012, ISSN: 2167-0447 ©2012 International Scholars Journals
Full Length Research Paper
Status, cost and profitability of aquaculture enterprises in Nigeria: implications for food security
1Adeogun, O. A., T. 2Alimi and R. 2Adeyemo
1Nigerian Institute for Oceanography & Marine Research
2Department of Agricultural Economics, Obafemi Awolowo University Ile Ife, Nigeria
3Wilmot Point Road, Victoria Island, Lagos
*Corresponding Author's Email: [email protected]
Received December 15, 2011; Accepted January 28, 2012
Abstract
Although aquaculture in Nigeria has the potential for satisfying the increased demand for protein and has been experiencing unprecedented growth during the last decade, question remains regarding the sustainable development of the industry. This study summarises the aquaculture practices in Nigeria and compares the productivity, costs and benefits across various types of enterprises. The study was based on field survey conducted between 2008 and 2009, with data drawn from 700 fish farmers. More than half (58.3 %) of the fish farmers raised fish in concrete tanks. Monoculture of Clarias species was the most dominant culture practice by 75.0% of fish farmers in the study area. Economic analysis of the production systems using various farming enterprises revealed that the profit margin was found to be as low as N207.92 per kilogramme of fish in flow techniques to N314.00 per kilogramme in stagnant system. Mean overall profitability was 4.7. The F-value (6.08) showed a significant difference in the profitability ratio of different fish farming enterprises. This shows that fish farming in Lagos State achieved on the average some levels of profitability that should guarantee its economic sustainability.
Keywords: Aquaculture, status, costs, profitability, Nigeria