Profitability of Fish Farming in Awka, Anambra State, Nigeria

Abstract

The study examined the profitability of fish farming in Awka, Anambra State, Nigeria. A simple random sampling technique was used to select six Fish farms namely Housetully fish farm, Ujundu fish farm, Ausco fish farm, Chizzy fish farm, and Chuksagro farm in the Awka metropolis. Structured questionnaires were used to collect data from the respondents. Descriptive statistics and net farm income analysis were used to analyze the data obtained. The result of the socio-economic analysis showed that all the respondents (100%) were males and all had formal tertiary education. Also, 50% of the respondents were mostly between the ages of 31- 40 years and had an average of 7 years of experience in the fish farming business. The majority of the respondents derived their capital largely from personal savings and spent an average total expenditure of N610,242.2 and earned an average gross income of N1,100,000. Gross margin analysis revealed a gross margin of N579,096 with a net farm income of N599,758 implying that for every 1N invested in the fish farm business, there was a return of N1.11. This study concluded that fish production in the study area is highly profitable. The study also revealed that despite the high profitability of the fish farm business in Awka, the fish farmers still face some serious problems such as high feed costs, fish diseases, high cost of fish seeds, high labor costs, and inadequate power supply. It is suggested that government involvement in fish farming will support these practicing fish farmers and also encourage unemployed youths to engage in fish farming.