Socio-economic determinants of net-income in fish farming in Kainji Lake Basin, Nigeria onomic determinants of net-income in fish farming in Kainji Lake Basin, Nigeria

Abstract

The study analyzed the socio-economic determinants of net-income in aquaculture of Kainji, Lake Basin, Nigeria. Specifically, the study examined the; fish farming systems; cost and returns, socio-economic determinants of net-farm income and challenges of fish farming in the area. The study adopted a two-stage sampling procedure to select 120 table-size fish farmers. Data were collected with questionnaires that were administered through face-to-face interview and analyzed using descriptive statistics, budgetary technique and multiple regression analysis. The results showed that 35.00 % of the fish farmers were within the age bracket of 31-40 years, 53.34 % were men, 91.67 % were married, 55.83 % had between 1-5 years of experience in fish farming and 75.83 % had tertiary educational qualification. Majority (92 %) of the fish farmers practiced the monoculture of catfish using earthen ponds system. The estimated total expenses were N 14,953,330.74 while the total revenue generated from 9 fish ponds, each stocked with an average of 3883.986 fingerlings in 2 cycles per year was N 20,188,142.00. The estimated net-farm income after tax was N 5,234,811.26 while the net profit margin and return on investment was 25.93 % and 35% respectively. Age, experience and household size were positive and significant (p<0.05) socio-economic factors that affected net-farm income while the challenges of fish farming were high cost of feed ( ̅x=3.24), poor pricing ( ̅x =3.11), poor access to capital ( ̅x=3.09) and persistent poaching/theft ( ̅x= 2.67). Based on the findings of the study, it is recommended that there should be an intensive research by the fish nutrition division of National Institute for Freshwater Fisheries Research (NIFFR) on the possible alternatives of crude protein source that could be a perfect substitute to Clupeids in fish feeds. Keywords: aquaculture, catfish, socio-economic, profitability, farmers