Evaluating Cost Benefit Analysis Of Climate Smart Aquaculture Fish Production Technologies In Ondo State, Nigeria

Abstract

Aquaculture contributes to the livelihood of the rural communities, improved nutrition and food supply, employment and income generation for the people around the world. Therefore, this study examined the socio-economic characteristics of aquaculture fish farmers, in the selected areas in Ondo state, Nigeria, identified the types of climate smart production technologies practiced in the study area, determine the cost and returns per fish farmers and identified the production constraints and benefits using climate smart practices for fish production in the study area. Data collected from 80 aquaculture fish farmers were analyzed, using descriptive statistics, gross margin analysis and Likert scale. Result showed that the mean age of the respondents is 43 years while approximately 73% of the respondents were men. Majority of the fish farms was owned by individual. Predominantly in the rainy and dry season Earthen ponds were used at approximately 22% and 20% followed closely by concrete pond lined with tarpaulin at about 21% and 17% respectively. The study revealed that 43% has aquaculture as their major occupation and means of livelihood. About  48% of the respondents own the land being used for the fish farm and 73% make use of their own labour. The average gross margin was 21,629574.70 naira the total cost amounted to 3,203,405.30 naira, average net farm income was 21,819,000.00 naira and feed cost accounted for 91% of TVC. Conclusively, fish production using smart technologies in the Ondo State is profitable and economically viable. Hence, Government should facilitate access to credit by fish farmers in the study area by review of strict lending polices of the formal lending institutions.