Profit Analysis of Fish Farming Enterprises in Ikenne Local Government Area of Ogun State, Nigeria

Abstract

Understanding the role of fish culture enterprises in our economy is critical for designing agricultural policies to increase productivity and enhance economic growth and to reduce poverty. The research investigated profit analysis of culture fish enterprises in Ikenne Local Area of Ogun State, Nigeria. This was achieved through random selection of 100 respondents. The method of analysis used was descriptive analysis to determine the socio economic characteristics of the fish farmers; budgetary analysis and profitability ratios was applied to examine profit level of the fish farmers. The results showed that 46% were men and 54% were women. Majority of the respondents (52%) were married and 48% were in the single category. It also revealed that farmers had at least primary education. 62% of the respondents had about less than 5 years experiences in the business, majority of farmers started their business with their own personal savings. The budgetary analysis shows that the gross margin of N50, 153,780 (125,384.45. Dollars) of the farmers and a net farm income of N49, 632, 580 (124,081.45. Dollars) of the respondents, which indicates that fish farming is profitable to the farmers in the study area. It was concluded that the venture is profitable to farmers, and it was recommended that young people mostly male should be encouraged to practice fish farming, and also involve in carrying out research on fish farming as this may help in solving the problem of food security and food sufficiency.