Economic analysis of small-scale capture fisheries and its contribution to food security in Lagos State, Nigeria

Abstract

The study focused on the economic analysis of small-scale capture fisheries and its contribution to food security in Lagos state, Nigeria. The study made use of multi-stage sampling technique to gather valuable information from active 120 fisherfolks in the study area. Data obtained were subjected to descriptive statistics, budgetary analysis and Ordinary Least Squares regression model. Food security line was used to examine the contribution of small-scale capture fisheries to food security of fisher-folks in the study area. The study revealed that artisanal fishing is male-dominated with mean age of 39 years and fishing experience of 18 years. An average fishing duration in the study area was 4.04 hours per day and fisherfolks undertook an average of two voyages daily. It was observed that a total cost of ₦46,212:93 was incurred with variable cost constituting 56.7% of the total cost of production. A gross margin of ₦147,713:08 and net income ratio of 0.73 were recorded confirming a very strong profitability of the enterprise and its contribution to fisherfolks livelihood. The study identified improved input usage, frequency of training and daily fishing duration as statistically significant factors influencing food security in small-scale capture fisheries (p<0.01). Major constraints reported included contaminated water bodies, competition from industrial fisheries and poor storage facilities. The study recommended fishing in the area as a highly lucrative business to intending fisherfolks, investors and the government to explore.