Over the last decade, the world has witnessed spectacular growth in the aquaculture industries
of many developing countries. It is firmly agreed that global aquaculture production will
continue to increase, and much of this will occur in the developing countries through the
expansion of semi-intensive, small-scale pond aquaculture.
The study was carried out to examine the economic analysis of aquaculture in Ikenne
agricultural extension zone of Ogun-State. Sixty fish farmers were selected using random
sampling technique and structural interview guides to elicit information from the fish farmers.
The data collected were analyzed using descriptive and inferential statistics. The study revealed
that the mean age the fish farmers was 42 years, 86.7% were married, 66.7% were educated and
60% had a household of 6-10 persons. Majority of the fish farmers were males i.e. 78.3%, 50%
had = 5 years fish farm experience. The total variable cost was N 862657.3 and total fixed cost
was N 755823.33. Some of the constraints in fish production in the study area were lack of
capital, insufficient experts, high cost of feed, ecological and environmental problems. Finally,
the net farm income of the farmers was N321750.37.
The t-test result showed that there were no significant differences between socio-economic
characteristics of the farmers at 5% of their income level giving a t-value of -9.976. The result
of the analysis showed that there were no significant difference between income of the farmer
and constrains encountered. Also, the hypothesis revealed that there is no significant difference
between source of information and income level.
Regression analysis was also, used to estimate the factors that influenced the revenue generated
by the farmers. The co-efficient of the multiple determinations (R2
) was 35%, adjusted R2 31%
and F- value of 3.81.
It is recommended that farmers should embark on practices like formation of cooperatives that
would enhance procurement of credit facilities and other essential inputs. Also, Government and
financial institution should give financial support to farmers.