Sustainable Aquaculture Practise: A Profitable Venture In Nigeria

Adelakun, (2012) Sustainable Aquaculture Practise: A Profitable Venture In Nigeria. In: 3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo.

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Abstract

Aquaculture, which involves the farming of fish for nutritional and economic benefits as well as food security and income generation, has in the last few years witnessed spectacular growth in Nigeria. The level of intensification witnessed in recent times has raised several issue that need to be addressed for the sustainability of the industry. This paper reviews relevant literature and examines the status and profitability of this green business in Nigeria. While it notes that economic viability of aquaculture depends on the interplay of various determinants (resources). It highlights land, water, labour and capital as resources employed for the optimum production in fish farming. The paper also discussed prospects that emanated from yearly shortfall in fish supply which is an indicator that there is a stable and ready market for fish. Possible suggestion were proffered to the problem of poor quality fish seed, high cost of fish feed, poaching, lack or insufficient of capital and marketing of fish and fish products identified as the hindrance militating against aquaculture development in Nigeria. The investigation reveals that aquaculture is very profitable in Nigeria due to the diversity in the culturable species in the country and its ability to yield between 30-100% return on investment in some very successful cases. Therefore, if taken as a full time occupation or venture it makes a significant economic impact on the investor. Keywords: Aquaculture, determinants, problems, profitability, prospects.

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > H Social Sciences (General)
Q Science > Q Science (General)
Divisions: Faculty of Engineering and Information Technologies > Genetic and Bioengineering Department
Depositing User: Users 173 not found.
Date Deposited: 29 Oct 2012 10:46
Last Modified: 29 Oct 2012 10:46
URI: http://eprints.ibu.edu.ba/id/eprint/1255

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