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Analysis of profitability of small-scale catfish farmers in Oyo State, Nigeria

Ashley-Dejo¹*, S.S., Olaoye², O.J and Adelaja³, O.A.

¹Department of Aquaculture and Fisheries Management, Federal University of Agriculture, Abeokuta, Nigeria,
²Agricultural Media Resources and Extension Centre, Federal University of Agriculture, Abeokuta, Nigeria,
³School of Economics, Finance and Banking, Universiti Utara Malaysia.

Malaysian J. Anim. Sci. 2017 20(2): 11-24

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The study examined some parameters affecting profitability of small-scale catfish farmers in Oyo State, Nigeria. Multi-stage sampling technique was used to select 222 catfish farmers from all the four agricultural extension zones of Oyo State using structured questionnaire. Data were analysed using descriptive statistics, profitability indices and multiple regression models. Benefit cost ratio, rate of return, gross revenue ratio, net profit margin and expense structure ratio were 1.69, 0.69, 0.59, 0.41 and 0.15 respectively, indicating that catfish farming is profitable in the study area. Multiple regression estimates revealed that the model was a good fit and age, farming experience, educational qualification, household size and source of income were the important and significant (P>0.01) socio-economic parameters affecting the gross margin of catfish farms in the study area. Results emanating from the findings revealed that preservation/storage/processing facilities, non-availability/high cost of quality fish seed, poaching/predators and high cost of fish feed were some of the constraints facing catfish farmers in Oyo State. Policies that intended at encouraging youth, input supply at subsidized rate (feed), and also provision of credit facilities with flexible means of repayment and affordable interest rates should be advocated for so as to increase catfish production in the State.