alexa Economic Analyze of Costs and Return of Fish Farming in Saki-East Local Government Area of Oyo State, Nigeria | OMICS International | Abstract
ISSN: 2155-9546

Journal of Aquaculture Research & Development
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Research Article

Economic Analyze of Costs and Return of Fish Farming in Saki-East Local Government Area of Oyo State, Nigeria

Adeniyi Bashir Tunde1*, Kuton MP2, Ayegbokiki Adedayo Oladipo3 and Lawal Hakeem Olasunkanmi4

1Aquaculture and Fisheries Research Programme, Institute of Food Security, Environmental Resources and Agricultural Research (IFSERAR), Federal University of Agriculture, Abeokuta, Nigeria

2Department of Marine Sciences, University of Lagos, Akoka, Lagos, Nigeria

3Food Security and Socio-Economic Research Programme, Institute of Food Security, Environmental Resources and Agricultural Research (IFSERAR), Federal University of Agriculture, Abeokuta, Nigeria

4Department of Agricultural Economics and Farm Management, Federal University of Agriculture, Abeokuta, Nigeria

*Corresponding Author:
Adeniyi Bashir Tunde
Aquaculture and Fisheries Research Programme
Institute of Food Security, Environmental Resources
and Agricultural Research (IFSERAR)
Federal University of Agriculture Abeokuta, Nigeria
Tel: 880-171-2141273
E-mail: [email protected]

Received Date: November 03, 2014; Accepted: December 16, 2014; Published Date: January 18, 2015

Citation: Tunde AB, Kuton MP, Oladipo AA, Olasunkanmi LH. (2015) Economic Analyze of Costs and Return of Fish Farming in Saki-East Local Government Area of Oyo State, Nigeria. J Aquac Res Development 6:306. doi:10.4172/2155-9546.1000306

Copyright: © 2015 Tunde AB, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Abstract

Aquaculture is regarded as a lucrative and important endeavour in terms of income generation and supply of animal protein to the majority of population in the country. The study examined economic analysis of fish farming in Saki-East Local Government Area (LGA) of Oyo State, Nigeria. Structured questionnaire was administered to randomly selected respondents to represent the fish farming community in the study area. Data collected were analyzed using descriptive statistics, costs and budgetary analysis and multiple regression analysis. The results of a Cost and Return Analysis of the fish farming in the study area showed that the total revenues was N244364.30 k per cycle, whereas total cost was N129379.52 k per cycle. This implies that fish farming was profitable and is expected to continue to operate. In addition, Benefit Cost Ratio (BCR) was 1.9, the fish farming is therefore considered to be profitable. The rate of Return on Investment was 0.8887, meaning, for every N1 invested; there will be a return of 88.8 k.

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