Factors Determining the Profitability of Catfish Production in Ibadan, Oyo State, Nigeria

Abstract

This study evaluated the socioeconomic factors influencing the profitability of catfish production in the city of Ibadan. Multistage sampling method was used to collect data from 120 fish farmers. Descriptive statistics, budgetary analysis and the multiple regression model were used to analyse the data obtained. The results showed that catfish production in Ibadan was male dominated as 80% of the fish farmers were men. The mean age of fish farmers was 44.3±12.0 years while as many as 78.3% of the farmers had post-secondary education. The mean family size was 5.2±1.9 while fish farmers were small operators with a mean farm size of 0.3±0.2 hectares. Fish farming is very recent as farmers had a mean farm experience of 6.9±6.5 years. Eighty per cent of the fish farmers got involved in fish farming for commercial reasons. The gross margin to catfish farming was N197,520.25 (US$ 987.60)/ha with a net income of N182, 573.04 (US$912.87)/ha. The budgetary analysis revealed that fish feed which constituted 79.18% of the total operating cost was the major cost item in catfish production. The regression analysis showed that fish farming experience, amount of labour used and quantity of feed used were significant determinants of net income in catfish production. The study concluded that there is the need to access fish farmers to substantially cheaper feed inputs to ensure the use of adequate quantity and quality of feed in catfish production. This will enhance output, productivity and net income in catfish enterprises.