Poverty Reduction Potential of Fish Farming in Ondo State, Nigeria
Journal Title: Scientia Agriculturae - Year 2016, Vol 14, Issue 3
Abstract
The study examined fish farming business and its capability to reduce poverty and invariably foster wealth creation in Akure South and Owo Local Government Areas of Ondo State, Nigeria. A multi stage sampling technique was used to select 100 fish farmers for the study during the 2013 production season. Data obtained were analysed using net farm income model, descriptive statistics, Foster, Greer and Thorbecke poverty technique and expenditure approach of determining poverty line value. The result of the study revealed that fish farming was profitable in the study areas with a net farm income of N2423.37/m2 being realised at the end of the production cycle. The study also revealed a poverty line value of N461.89/day among the fish farmers which is higher than the one dollar a day benchmark of the World Bank. Other results showed that poverty depth among fish farmers was 9% while poverty severity was 2%. It is recommended that fish farmers need to be trained on how to produce fish feed in order to reduce the cost of feeding fish, make maximum profit from their investment in fish farming which can significantly lead to poverty reduction. Also, lending institution should be encouraged by the government through measures like reduced bank rate, lower reserve ratio, selective credit policies etc to grant loan to practicing fish farmers at a reduced interest rate so as to enable them to expand their scale of fish production and thereby boost domestic production of fish.
Authors and Affiliations
Asiru Monday Abbas, Ben Ahmed
Keywords
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- EP ID EP159470
- DOI 10.15192/PSCP.SA.2016.14.3.306313
- Views 144
- Downloads 0
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