PROFITABILITY ANALYSIS OF CATFISH PRODUCTION IN ODOGBOLU LOCAL GOVERNMENT AREA OF OGUN STATE, NIGERIA

Abstract

This study analyzed the profitability of catfish production in Odogbolu local government area of Ogun state. Multistage sampling procedure was used to select the study samples and data were collected with the aid of interview guide from 120 catfish farmers. Descriptive and inferential statistics were used for data analysis. Results revealed that catfish farming was dominated by male (75.0%) with mean age of 47.3±7.7 years. Also, highest proportion (46.7%) of the farmers had post-secondary education. The mean household size was 4±1persons. Majority (83.3%) of the respondents had 1-10years of fish farming experience with mean farming experience being 6.5±4.9 years. Majority (88.3%) of the fish farmers got involved in fish farming for commercial reasons. A total of N3,051,537.50 was expended to realize a total revenue of ₦3,770,291.70 leaving a gross margin of ₦1,216,123.30 and net farm income of ₦718,754.10. It was further revealed that fish feed accounted for 77.4% of the total cost. Most (99.2%) of the respondents identified flooding, outbreak of disease (82.5%) and poor quality of fish seed (60.8%) as severe constraints to fish farmers. The regression analysis established that number of ponds was the only significant determinant (p<0.05) of fish farmers’ profitability from catfish production. The study concludes that although catfish farming is faced with some constraints, it is a profitable enterprise among farmers in Odogbolu Local Government Area of Ogun State, Nigeria. It is recommended that farmers must ensure that they keep their cost of production as low as possible. Also, they should ensure efficient use of input resources especially feeds.