Economic analysis of aquaculture practices in some Local Government areas of Ogun State

Abstract

The primary aim of the study was to ascertain the profitaility and assess resource use efficiency as well as compare same between the two sysytems of aquaculture (Concrete pond and Dug-out pond Systems) in Ijebu-North and Ijebu Norh-East Local Government Areas of Ogun State. To accomplish this objective, the 65 fish farmers (30 Dug-out pond and 35 concrete pond) whose fish had reached market size\xa0 were interviewed in the study areas during 2001/2002 production season. Sets of structured questionnaire, personally administered were used to collect the required data. The mean\xa0 sizes of the concrete ponds and Dug-out ponds were employed in the analysis of the data. The mean sizes of the concrete ponds and Dug-out ponds were 64.57 M2 and 2392.43 M2\xa0 respectively. \nThe budgetary analysis of the two systems showed that fish production was profitable in the area. The concrete pond (CPS) system was however found to be more profitable than the dug-out pond system (DPS). The result of the regression analysis showed that the number of fingerlings stocked per square metre, man days of human labour used , months of production season and quatity of fertilizer and lime used had much more significant influence on yield (harvest) from the CPS than from the DPS. The comparison of the technical efficiency of inputs in both systems showed that the\xa0 inputs were more efficiently utilized in the CPS rather than in the DPS. The result of the Chow test showed that the resource used in the CPS differed significantly at 5 percent level, from that of DPS. \nFollowing their findings, it was recommended that fish farmers in the study area should increase their stocking rate and reduce the amount of hired labour as well as use appropriate good quality feed in order to improve their productivity levels.