Socio – Economic and Profitability Analysis of Catfish Production in Akure North Local Government of Ondo State, Nigeria
J. A. Folayan *
Department of Agricultural and Resource Economics, Federal University of Technology, Akure, Ondo State, Nigeria.
O. F. Folayan *
Department of Business Administration and Management, College of Social and Management Sciences, Afe Babalola University, Ado-Ekiti, Ekiti State, Nigeria
*Author to whom correspondence should be addressed.
Abstract
This study examined the Socio-economic characteristics of catfish farmers, estimated the cost and returns, and determined the profitability and ascertaining the factors that affect catfish production in Akure North Local Government, Ondo State, Nigeria. The work examined the various constraints militating against catfish production in the study area. The result showed that majority (75%) of the respondents were male, 77% had formal education, while 68% of the respondents stocked between 501 to 1000 units of fingerlings. The result of profitability analysis shows that an average profit of ₦8766.40 (an equivalent of 53.24 US dollar) could be realized per month and the enterprise could be adjudged as profitable. It is recommended that fish farmers be advised to form association that would enhance expansion of operation, while the government should encourage catfish production via discouragement of catfish importation into the country as well as extending credit facilities to credit worthy catfish association.
Keywords: Catfish, farmers, socio economic and profitability analyses