ECONOMIC ANALYSES OF ARTISANAL FISHERIES IN THE COASTAL AREA OF ONDO STATE, NIGERIA

Abstract

This Study was conducted to assess the Economic Analyses of artisanal fisheries in the coastal areas of Ondo State, Nigeria in order to determine the socioeconomic characteristics of the fisher folks; assess the economic efficiency of fishing gears used, fishing activities and common fishes caught in the study area, determine the cost and return structure of fishing in the study area, and identify the constraints of fisheries in the study areas. A multistage sampling technique was used in purposively selecting five fishing communities from two Local Government Areas- Ilaje and Ese- Odo LGAs. Questionnaires were randomly administered to 200 respondents in the fishing communities. Data obtained were analyzed using descriptive, budgetary analysis and regression analysis. Results showed that from the demographic characteristics of the respondents, 71% of the fisher folks were male, while 61% were within the active age distribution of 20-40years, 58% had formal education, 69% had 11-30 years of fishing experience, 59% of the respondents were married and none of the respondents participated in fisheries cooperative societies. A total revenue of N1,121,640 was obtained per respondent per annum in Ilaje LGA while N 376,320 was obtained in Ese-Odo, Benefit Cost Ratio of 5.04 in Ilaje while 3.97 in Ese-Odo and their respective Gross Margins were N1,061,040 and N 314,431.20k showed profitability of artisanal fishing enterprise. Inadequate storage facilities, infestation of the water bodies by water hyacinth, and high cost of inputs were the paramount constraints facing artisanal fisheries in the study areas. Regression analysis revealed significant relationship (p<0.05) between the socio-economic characteristics of the fisher folks and the level of income generated in the study areas. It is thus recommended that Fisheries extension services should be extended to the study area.