COMPARATIVE EVALUATION OF ECONOMIC BENEFITS OF EARTHEN FISH PONDS AND CONCRETE TANKS IN AQUACULTURE ENTERPRISES IN OYO STATE, NIGERIA

COMPARATIVE EVALUATION OF ECONOMIC BENEFITS OF EARTHEN FISH PONDS AND CONCRETE TANKS IN AQUACULTURE ENTERPRISES IN OYO STATE, NIGERIADownload fileoriginal scientific paper
COMPARATIVE EVALUATION OF ECONOMIC BENEFITS OF EARTHEN FISH PONDS AND CONCRETE TANKS IN AQUACULTURE ENTERPRISES IN OYO STATE, NIGERIAOlaoye, O. J., Adegbite, D. A., Oluwalana, E. O., Vaughan, I. O., Odebiyi, C. O., Adediji, A. P.Keywords:
comparative evaluationeconomic benefitsconcrete tanksearthen fish pondsnigeria

DOI number: http://dx.doi.org/10.14798/72.3.708

Volume: 72
Issue: 3
Pages: 107 - 117

Summary

The study focused on the comparative evaluation of economic benefits of earthen fish ponds and concrete tanks in aquaculture enterprises in Ibadan, Oyo state. A combination of purposive and convenience sampling procedure was used in selecting 100 fish farmers, structured interview schedule was used to collect the primary data and were subjected to descriptive statistics, budgetary technique and inferential statistics. The study revealed that the mean age, male, married, household size, educated and fish farming experience were 41 years, 83.0%, 87.0%, 5 persons, 96.0% and 8 years, respectively. Earthen fish ponds users earned mean revenue of N3,322,189.85 with gross margin of N2,188,397.89 while concrete tank users earned N2,412,271.08 with gross margin of N1,413,299.46. Profitability index 0.61 and 0.47, Variable Cost ratio 0.35 and 0.30, Benefit Cost Ratio 2.55 and 1.89, Gross ratio 0.40 and 0.54 and Expenses structure ratio 0.13 and 0.23, respectively. There was a significant difference between the profit level of earthen fish ponds and concrete tanks (t = 42.53, p≤0.05). Major constraints affecting economic status of the respondents were high cost of quality feed, inadequacy of sufficient fund, poaching and poor marketing channel. In conclusion, aquaculture is a more profitable and viable business regardless of the culture system. Government should assist the fish farmers by subsidizing feeds price, granting and monitoring of loan.