ANALYSIS OF PROFITABILITY IN CATFISH PRODUCTION A CASE STUDY OF LOKOJA LGA KOGI STATE

Abstract

This study examined the profitability of catfish farming in lokoja local government area of Kogi State, Nigeria. A multi-stage random sampling procedure was used to collect primary data for the study. The first stage involved a purposive selection of lokoja local government areas based on predominance of catfish production. The second stage involved a random selection of 4 villages. The final stage involved the random selection of catfish-producing households from the villages selected. Data were analysed using descriptive statistics and gross margin analysis. The result of the analysis shows that the mean age of the respondents was 38 years; the majority of the farmers do not have formal education. The mean household size was 6, farming experience had the mean of 5 years and mean for the amount of credit obtained was ₦6000. The average rate of returns on investment (return per naira invested) was 1.91, indicating that for every ₦1 invested in catfish production in the study area; a profit of 91 kobo was made. Thus, it could be concluded that catfish production in the study area though on a small scale, was economically viable.