Influence of Socio-Economic Factors on the Profitability of Fish Farming in Owerri North Local Government Area of Imo State

Abstract

The study was carried out to examine the influence of socio-economic characteristics on profitability of fish farmers in Owerri North LGA of Imo State. The study considered cost incurred and returns accrued on fish production in the area. Also, the relationship between the revenue derived from fish farming and various factors affecting fish production were determined. Standard procedures were adopted in all experimental analyses. One hundred and ten (110) fish farmers were randomly selected within the study area and used for the work, and data were collected using a well-structured questionnaire. Collected data were analysed using descriptive statistics such as percentages and inferential statistics (multiple regression at p<0.05) as well as cost and return analysis. Results showed that average annual income of a fish farmer was ₦6,269,886 while the profitability index was 1.89. Thus, indicating that, for every one-naira (₦1.00) investment made in fish farming in Owerri North LGA, ₦1.89 was returned to the farmer as net income. The study further showed that sex and years of farming experience were statistically significant and positively correlated (R²=0.8570; p<0.05) with net farm returns. On the other hand, age of the farmer, education attainment and marital status were negatively correlated and not significant. It is therefore recommended that people should engage in fish farming in the area as it is a profitable venture.

Keywords: Cost, returns, socio-economic factors, fish farming, Owerri North