Analysis of Risk Coping Strategies Among Catfish Farmers in Ikorodu Division, Lagos State, Nigeria

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The aim of this study was to analyse the risk coping strategies among catfish farmers in Ikorodu division of Lagos State, Nigeria. Primary data were obtained from 100 catfish farmers with the aid of a pre-tested questionnaire and focus group discussion using multistage sampling technique. Descriptive statistics and multivariate probit regression model were employed for data analysis. Results revealed that majority (68.1%) of the respondent were male with a mean age of 41 years and a mean stock size of 1130. The major sources of risks in the study area were fluctuation in price (89.4%), cost and quality of feed (79.8%), high cost of labour (76.6%), quality of fingerling (75.6%), bird invasion (75.6%) among others. Reduced volume of stock (87.2%), treated pond before stocking (77.7%), purchased good feed quality (74.5%), and used personal savings (72.3%) were the major coping strategies adopted by the farmers in the study area. The estimate of the multivariate probit regression model revealed that sex, age, education, household size, catfish experience, start-up capital, farming status, membership of cooperative association and access to loan were the factors determining the adoption of risk coping strategies in the study area. Therefore, government, both at the federal and state level should intensify efforts at implementing the various agricultural support programs such as anchor borrowers, poverty alleviation fund and other subsidy programs that can help the farmers expand their capital base and better cope with risk in the study area.