Economic Efficiency of Aquaculture Production in Edo State, Nigeria Public Deposited

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  • The study examines economic efficiency of aquaculture production in Edo State. The data for the analysis were obtained from the fish farmers through the administration of structured questionnaire, using multistage sampling technique and leading to the selection of 100 respondents. Data were analyzed, using stochastic frontier production function as in Frontier Version 4.1, applying the maximum likelihood estimation technique. The result of the analysis shows that the fish farmers were operating at the positive increasing returns to scale (RTS = 2.055). The study shows that if the amount of fingerlings, hired labour, family labour, quantity of feeds and annual cost of materials were increased by 100% in aquaculture production, total fish output in the aquaculture farms will increase by 40.2%, 136.9%, 6.5%, 26.5%, and 7.6% for each of the increase in the input respectively.. This establishes the fact that these resources were under utilized in aquaculture production in Edo State. The mean technical efficiency estimated at about 63% is suggesting that the aquaculture farmers were only 63% efficient in the use of the combination of their inputs. The study concludes that aquaculture production and its efficiency can be increased in Edo State in Nigeria by increasing the stocking density, increase access to credit and extension services. If these are done, the contribution of aquaculture fishery to total fish supply in Nigeria that was about 5% in 1991, and then increased to 12% in 2007, can increase faster to about 40% in the nearest future.
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  • Esobhawan, Albert and Reuben Adeolu Alabi. 2010. Economic Efficiency of Aquaculture Production in Edo State, Nigeria. 11 pages. In: Proceedings of the Fifteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 13-16, 2010, Montpellier, France: Economics of Fish Resources and Aquatic Ecosystems: Balancing Uses, Balancing Costs. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2010.
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