Volume 4, Issue 3, September 2019, Page: 28-32
Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria
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
Received: Jan. 29, 2019;       Accepted: Mar. 7, 2019;       Published: Oct. 20, 2019
DOI: 10.11648/j.eeb.20190403.11      View  69      Downloads  9
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.
Keywords
Profitability, Investment, Fish Farming, Enterprise, Ibadan
To cite this article
Oke Joel Taiwo Oluseye, Kehinde Ayodeji Damilola, Profitability of Investment in Fish Farming Enterprise in Ibadan Metropolis, Oyo State, Nigeria, Ecology and Evolutionary Biology. Vol. 4, No. 3, 2019, pp. 28-32. doi: 10.11648/j.eeb.20190403.11
Copyright
Copyright © 2019 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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