Dynamics upsetting profitability of fish farming in Nigeria: Perspectives from Ethiope East local government area

Abstract

The study examined the variables influencing the financial success of fish farming in Delta State's Ethiopia-East Local Government Area. The particular objectives were to describe the socioeconomic traits of fish farmers, ascertain the economic viability of fish farming in the research area, and pinpoint the socioeconomic traits influencing that viability. 60 farmers were randomly picked as samples using multi-stage sampling approaches. Data were gathered using structured questionnaires, and descriptive statistics, gross margin analysis, and multiple regression models were utilized to analyze them. According to socioeconomic data, most fish farmers (68%) were male, married (71.7%), well-educated (53.4%), and between the ages of 31 and 50 (53.4%). Additionally, a whopping 60% of fish farming was done on a part-time basis. With a gross margin of $6,407,83 per production cycle and a return on investment of 0.73, fish farming was successful and worthwhile. Age, educational level, farming experience, and farming status were significant variables affecting the profitability of fish farming in the research area at a 1% significant level, according to the semi-log regression results. According to the report, farmers should receive training in feed formulation to lower production costs.