ECONOMICS OF FISH FARMING IN IKORODU AREA OF LAGOS STATE, SOUTHWEST NIGERIA

Abstract

The study explored comparatively, the economic activities of fish farmers in the Fish Farm
Estate and those outside the estate in Ikorodu, Lagos State. 110 fish farmers were randomly
selected and structured questionnaire used to elicit information from them. The study
revealed that 40% and 44% of the fish farm estate and those of non-estate were within the age
group of 31-40 years; and 68.3% and 58.0% of the respondents were male respectively. Some
67.7% and 82.0% of the respondents were married. Most (88.3% and 70.0%) engaged in
monoculture system as 65.0% and 66.0% of the respondents’ raise Clarias spp type of fish.
Most of the respondents in fish farm estate (71.7%) and non-fish estate (58.0%) used flowthrough system of operation. 51.7% and 54.0% of the respondents run their farm on an
intensive system of feeding. Further, the result revealed the annual net return of N1,
393,047.00 for fish farm estate and N1, 361,898.72 for non-fish farm estate with the benefit
cost ratio of 1.271 and 1.282 respectively, indicating that fish farming is profitable. At critical
level of probability, years of experience, source of capital of fish farmers in the estate were
statistically significant at p<0.05 and marital status, age of respondents were significant at
p<0.01 respectively while for non-estate farmers, source of capital was significant at p<0.01
and age of respondents, marital status though negative were statistically significant at p<0.05
except for years of experience of farmers that was positive but non-significant.