Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria

Oke Joel Taiwo Oluseye; Kehinde Ayodeji Damilola

doi:doi:10.11648/j.eeb.20190403.11

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Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria

Oke Joel Taiwo Oluseye, Kehinde Ayodeji Damilola

Published in Ecology and Evolutionary Biology (Volume 4, Issue 3)

Received: 29 January 2019 Accepted: 7 March 2019 Published: 20 October 2019

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Abstract

This paper investigated profitability of investment in fish farming enterprise in Ibadan metropolis, Oyo State, Nigeria. Specifically, it described the socio-economic characteristics of fish farmers in the study area, examined the cost and return to fish farming enterprise and determined the factors that affect investment in fish farming enterprise in the study area. The study was conducted in Ibadan metropolis, Oyo State, Nigeria. A multi-stage sampling procedure was used to select respondents for this study. A total number of 120 fish farmers were selected for the study. Data were analyzed using descriptive statistics, budgetary technique and multiple regression model. The results for the entire respondents showed average values of 46 and 10 years for age and years of experience, respectively. Majority of respondents were married (85%), male (93%) and educated (88%). The estimated costs and return to fish farming enterprise on the average in the study area were N 749,661 and N 615,761 per annum whereas the total revenue on the average was N1715, 512, while average total cost was ₦ 1,099,751. The benefit cost ratio and rate of return analysis were 1.23 and 0.35, respectively. Cost of feeding, cost of constructing pond, cost of labour, years of farming experience, household size, and cost of lime and fertilizer negatively and significantly (p<0.1) affect the investment in fish farming enterprise while profit expectation positively affects the investment in fish farming enterprise. Following the findings of the study, the government and non-governmental agencies should provide fish farmers with adequate access to credit facilities. Also, inputs should be made available to the fish farmers at the right time, quantity, quality and at subsidized prices.

Published in	Ecology and Evolutionary Biology (Volume 4, Issue 3)
DOI	10.11648/j.eeb.20190403.11
Page(s)	28-32
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

Profitability, Investment, Fish Farming, Enterprise, Ibadan

References

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[2]	Eyo, A. A. (2001). Fish Processing Technology in the Tropics, University of Ilorin, Nigeria Press, 430Pp.
[3]	Adekoya, B. B. and J. W. Miller (2004). Fish Cage Culture Potential in Nigeria- an Overview. National Cultures. Agric. Focus, 15: 10.
[4]	FAO, (2006). Fisheries Management in the Federal Republic of Nigeria. www.fao.org/fi/fep/en/NGA/body. Retrieved, 01.01.2010.
[5]	Omitoyin, B. O. (2007): Introduction to Fish Farming in Nigeria. Ibadan University Press, University of Ibadan. 105pp excluding cover page ISBN 978-121-4279.
[6]	FAO, (2005a). Food security in the context of economic and trade policy reforms: insights from country experiences. CCP 05/11. Rome.
[7]	Brummet R. E. 1995 – Environmental regulation of sexual maturation and reproduction in Tilapia – Res. Fish. Sci. 3: 231-248.
[8]	Ugwumba, C. O. and Chukwuji, C. O. (2010) The Economics of Catfish Production in Anambra state, Nigeria; A Profit Function Approach. J. Agric and Soc. Sci. 6 (4): 105-109.
[9]	Oladejo, A. J. (2010). Economic Analysis of Small-Scale Catfish Farming in Ido Local Government Area of Oyo State, Nigeria. Agricultural Journal, 5: 318-321.
[10]	Raufu, M. O., Adepoju, A. A., Salau, A. S. and Adebiyi, O. A., (2009). Determinants of yield performance in small scale fish farming in Alimosho local government area of Lagos State, International Journal of Agricultural Economics and Rural Development 2 (1): 10-17.
[11]	Hyuha, T. S., Bukenya, J. O., Twinamasiko, J. & Molnar, J. (2011). Profitability analysis of smallscale aquaculture enterprise in central Uganda. International Journal of Fisheries and Aquaculture, 2 (15): 271–278.
[12]	Gabriel, U. U., O. A. Akinrotimi, D. O. Bekibele, P. E. Anyawu and D. N. Onunkwo (2007). Economic benefit and ecological efficiency of integrated fish farming in Nigeria. Scientific Research and Essay Vol. 2 (8), pp 302-308.
[13]	National Population Commission, (NPC) (2007). Population Figure. Federal Republic of Nigeria, Abuja. Retrieved from http://www.npc.gov.
[14]	Okwu, O. J. and Acheneje S. (2011). Socio-Economic Analysis of Fish Farming in Makurdi Local Government Area, Benue State, Nigeria European Journal of Social Sciences – 23 (4): 508-519.

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Oke Joel Taiwo Oluseye, Kehinde Ayodeji Damilola. (2019). Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria. Ecology and Evolutionary Biology, 4(3), 28-32. https://doi.org/10.11648/j.eeb.20190403.11

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ACS Style

Oke Joel Taiwo Oluseye; Kehinde Ayodeji Damilola. Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria. Ecol. Evol. Biol. 2019, 4(3), 28-32. doi: 10.11648/j.eeb.20190403.11

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AMA Style

Oke Joel Taiwo Oluseye, Kehinde Ayodeji Damilola. Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria. Ecol Evol Biol. 2019;4(3):28-32. doi: 10.11648/j.eeb.20190403.11

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@article{10.11648/j.eeb.20190403.11,
  author = {Oke Joel Taiwo Oluseye and Kehinde Ayodeji Damilola},
  title = {Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria},
  journal = {Ecology and Evolutionary Biology},
  volume = {4},
  number = {3},
  pages = {28-32},
  doi = {10.11648/j.eeb.20190403.11},
  url = {https://doi.org/10.11648/j.eeb.20190403.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.eeb.20190403.11},
  abstract = {This paper investigated profitability of investment in fish farming enterprise in Ibadan metropolis, Oyo State, Nigeria. Specifically, it described the socio-economic characteristics of fish farmers in the study area, examined the cost and return to fish farming enterprise and determined the factors that affect investment in fish farming enterprise in the study area. The study was conducted in Ibadan metropolis, Oyo State, Nigeria. A multi-stage sampling procedure was used to select respondents for this study. A total number of 120 fish farmers were selected for the study. Data were analyzed using descriptive statistics, budgetary technique and multiple regression model. The results for the entire respondents showed average values of 46 and 10 years for age and years of experience, respectively. Majority of respondents were married (85%), male (93%) and educated (88%). The estimated costs and return to fish farming enterprise on the average in the study area were N 749,661 and N 615,761 per annum whereas the total revenue on the average was N1715, 512, while average total cost was ₦ 1,099,751. The benefit cost ratio and rate of return analysis were 1.23 and 0.35, respectively. Cost of feeding, cost of constructing pond, cost of labour, years of farming experience, household size, and cost of lime and fertilizer negatively and significantly (p<0.1) affect the investment in fish farming enterprise while profit expectation positively affects the investment in fish farming enterprise. Following the findings of the study, the government and non-governmental agencies should provide fish farmers with adequate access to credit facilities. Also, inputs should be made available to the fish farmers at the right time, quantity, quality and at subsidized prices.},
 year = {2019}
}

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TY  - JOUR
T1  - Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria
AU  - Oke Joel Taiwo Oluseye
AU  - Kehinde Ayodeji Damilola
Y1  - 2019/10/20
PY  - 2019
N1  - https://doi.org/10.11648/j.eeb.20190403.11
DO  - 10.11648/j.eeb.20190403.11
T2  - Ecology and Evolutionary Biology
JF  - Ecology and Evolutionary Biology
JO  - Ecology and Evolutionary Biology
SP  - 28
EP  - 32
PB  - Science Publishing Group
SN  - 2575-3762
UR  - https://doi.org/10.11648/j.eeb.20190403.11
AB  - This paper investigated profitability of investment in fish farming enterprise in Ibadan metropolis, Oyo State, Nigeria. Specifically, it described the socio-economic characteristics of fish farmers in the study area, examined the cost and return to fish farming enterprise and determined the factors that affect investment in fish farming enterprise in the study area. The study was conducted in Ibadan metropolis, Oyo State, Nigeria. A multi-stage sampling procedure was used to select respondents for this study. A total number of 120 fish farmers were selected for the study. Data were analyzed using descriptive statistics, budgetary technique and multiple regression model. The results for the entire respondents showed average values of 46 and 10 years for age and years of experience, respectively. Majority of respondents were married (85%), male (93%) and educated (88%). The estimated costs and return to fish farming enterprise on the average in the study area were N 749,661 and N 615,761 per annum whereas the total revenue on the average was N1715, 512, while average total cost was ₦ 1,099,751. The benefit cost ratio and rate of return analysis were 1.23 and 0.35, respectively. Cost of feeding, cost of constructing pond, cost of labour, years of farming experience, household size, and cost of lime and fertilizer negatively and significantly (p<0.1) affect the investment in fish farming enterprise while profit expectation positively affects the investment in fish farming enterprise. Following the findings of the study, the government and non-governmental agencies should provide fish farmers with adequate access to credit facilities. Also, inputs should be made available to the fish farmers at the right time, quantity, quality and at subsidized prices.
VL  - 4
IS  - 3
ER  -

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Author Information

Oke Joel Taiwo Oluseye

Department of Agricultural Economics, Faculty of Agriculture, Obafemi Awolowo University, Ile-Ife, Nigeria
Kehinde Ayodeji Damilola

Department of Agricultural Economics, Faculty of Agriculture, Obafemi Awolowo University, Ile-Ife, Nigeria

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APA Style

Oke Joel Taiwo Oluseye, Kehinde Ayodeji Damilola. (2019). Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria. Ecology and Evolutionary Biology, 4(3), 28-32. https://doi.org/10.11648/j.eeb.20190403.11

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ACS Style

Oke Joel Taiwo Oluseye; Kehinde Ayodeji Damilola. Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria. Ecol. Evol. Biol. 2019, 4(3), 28-32. doi: 10.11648/j.eeb.20190403.11

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AMA Style

Oke Joel Taiwo Oluseye, Kehinde Ayodeji Damilola. Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria. Ecol Evol Biol. 2019;4(3):28-32. doi: 10.11648/j.eeb.20190403.11

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@article{10.11648/j.eeb.20190403.11,
  author = {Oke Joel Taiwo Oluseye and Kehinde Ayodeji Damilola},
  title = {Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria},
  journal = {Ecology and Evolutionary Biology},
  volume = {4},
  number = {3},
  pages = {28-32},
  doi = {10.11648/j.eeb.20190403.11},
  url = {https://doi.org/10.11648/j.eeb.20190403.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.eeb.20190403.11},
  abstract = {This paper investigated profitability of investment in fish farming enterprise in Ibadan metropolis, Oyo State, Nigeria. Specifically, it described the socio-economic characteristics of fish farmers in the study area, examined the cost and return to fish farming enterprise and determined the factors that affect investment in fish farming enterprise in the study area. The study was conducted in Ibadan metropolis, Oyo State, Nigeria. A multi-stage sampling procedure was used to select respondents for this study. A total number of 120 fish farmers were selected for the study. Data were analyzed using descriptive statistics, budgetary technique and multiple regression model. The results for the entire respondents showed average values of 46 and 10 years for age and years of experience, respectively. Majority of respondents were married (85%), male (93%) and educated (88%). The estimated costs and return to fish farming enterprise on the average in the study area were N 749,661 and N 615,761 per annum whereas the total revenue on the average was N1715, 512, while average total cost was ₦ 1,099,751. The benefit cost ratio and rate of return analysis were 1.23 and 0.35, respectively. Cost of feeding, cost of constructing pond, cost of labour, years of farming experience, household size, and cost of lime and fertilizer negatively and significantly (p<0.1) affect the investment in fish farming enterprise while profit expectation positively affects the investment in fish farming enterprise. Following the findings of the study, the government and non-governmental agencies should provide fish farmers with adequate access to credit facilities. Also, inputs should be made available to the fish farmers at the right time, quantity, quality and at subsidized prices.},
 year = {2019}
}

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TY  - JOUR
T1  - Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria
AU  - Oke Joel Taiwo Oluseye
AU  - Kehinde Ayodeji Damilola
Y1  - 2019/10/20
PY  - 2019
N1  - https://doi.org/10.11648/j.eeb.20190403.11
DO  - 10.11648/j.eeb.20190403.11
T2  - Ecology and Evolutionary Biology
JF  - Ecology and Evolutionary Biology
JO  - Ecology and Evolutionary Biology
SP  - 28
EP  - 32
PB  - Science Publishing Group
SN  - 2575-3762
UR  - https://doi.org/10.11648/j.eeb.20190403.11
AB  - This paper investigated profitability of investment in fish farming enterprise in Ibadan metropolis, Oyo State, Nigeria. Specifically, it described the socio-economic characteristics of fish farmers in the study area, examined the cost and return to fish farming enterprise and determined the factors that affect investment in fish farming enterprise in the study area. The study was conducted in Ibadan metropolis, Oyo State, Nigeria. A multi-stage sampling procedure was used to select respondents for this study. A total number of 120 fish farmers were selected for the study. Data were analyzed using descriptive statistics, budgetary technique and multiple regression model. The results for the entire respondents showed average values of 46 and 10 years for age and years of experience, respectively. Majority of respondents were married (85%), male (93%) and educated (88%). The estimated costs and return to fish farming enterprise on the average in the study area were N 749,661 and N 615,761 per annum whereas the total revenue on the average was N1715, 512, while average total cost was ₦ 1,099,751. The benefit cost ratio and rate of return analysis were 1.23 and 0.35, respectively. Cost of feeding, cost of constructing pond, cost of labour, years of farming experience, household size, and cost of lime and fertilizer negatively and significantly (p<0.1) affect the investment in fish farming enterprise while profit expectation positively affects the investment in fish farming enterprise. Following the findings of the study, the government and non-governmental agencies should provide fish farmers with adequate access to credit facilities. Also, inputs should be made available to the fish farmers at the right time, quantity, quality and at subsidized prices.
VL  - 4
IS  - 3
ER  -

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