Price Modulation Policy of Federal Government of Nigeria: Effects on Fish Production

Abstract

The study investigated the effect of price modulation policy of Federal Government of Nigeria on fish production in Oyo State, South West Nigeria. A multistage sampling technique was used to select 150 respondents from 9 wards within Oyo State using well-structured questionnaire to obtain information on socio-economic characteristics of the respondents, types of fish cultured and the impact of price modulation policy on profitability of fish production. Data were analyzed using descriptive statistics, regression and t-test analysis. There is influx of young men (57.5%) in fish production in the study area with 95% of them having between 1-5 years of experience. Clarias spp is the most cultured fish species in the study area and cost per kg of fish produced after price modulation had a negative and significant (p<0.05) effect on profitability of fish production during the period of this study. T-test further showed that there was significant difference between production cost before price modulation (PCBF) and production cost after price modulation (PCAF). This could have negative health and welfare implications on the citizenry. Policy makers should therefore put in place welfare packages that will ameliorate the effect of this policy.