Artisanal canoe fishing industry of the Rivers State: its economic viability and investment potentials

Consequent upon the present national call in Nigeria for all to go back to agriculture including fishing, most retrenched workers and unemployed youths from the riverine areas are taking up fishing as a legitimate and gainful livelihood. To sustain this tempo and attract more investment, the economic viability of such projects must be known. This study is an attempt to document the profitability and investment potential of artisanal canoe fishing. Socio-economic information including catches, operational cost and returns were obtained through a personal interview questionnaire survey of 240 randomly selected artisanal canoe fishermen from Bonny, Brass and Degema Local Government Areas (LGA) of the State and analyzed. With an investment cost of about 8,135, 8,490 and 6,571 and operation cost of 750, 776 and 627, the analysis showed an average monthly gross income of 1,869, 3,221 and 1,775 for the three local government areas respectively. A benefit-cost-ratio of 1:8, net present value of 400, 603 and internal rate of return greater than 50% were obtained. Since capital invested in fisheries is not tied up for long before benefits start flowing, coupled with the high IRR, it is concluded that artisanal canoe fishing would be an economically viable venture if well managed

Food and feeding habits of Tilapia zilli (Pisces: Cichlidae) in Ondo State University fish farm

The food and feeding habits of Tilapia zillii in the fish farm of Ondo State University, Akungba - Akoko, Nigeria, were studied by gut analysis. Examinations of 150 specimens showed that Nymphea formed the main bulk of food consumed. Spirogyra, Pithophora and Compsopogon occurred frequently while Pistia detritus and plant remains featured less frequently. Variation in the frequency of occurrence of the various food items was observed among the various sizes of samples. The samples within the middle - size group fed on both higher plant and filamentous algae while the young and higher fish consumed exclusively filamentous algae. On the basis of food items found in the gut, Tilapia zillii was classified as primary consumers

An overview of the challenges and prospects in developing an aquaculture industry in Lagos State, Nigeria

Macroeconomic growth and the development of sustainable business activities are interrelated. In Lagos State, aquaculture is a marginal economic activity thriving mainly on a semi-intensive level. Notwithstanding the available potentials for the development of successful commercial aquaculture enterprises in the state, the transformation to a full-flagged industry continues to be undetermined by certain critical factors. Feasible development strategies may be sought in increasing all stakeholders' capacity in the formulation of policies, plans and regulations, a complete separation of aquaculture from the capture fisheries in administrative structure and policy; the adoption of precautionary approach; provision of economic incentives to enhance private investments and increase output,respectively

Role of the state and financial institutions in financing the fishing industry

The experience of the Government in the recovery of loans for 28 foot mechanized vessels has been unsatisfactory. The author examines the various aspects which have contributed to this situation, and considers arrangements for financing purchase of such vessels. The risks associated with the investment in 38 foot vessels are high, and it seems that the reluctance of private investors to make the required contribution from personal funds is a result of fear of the unknown. Current incentives provided by the Government to the private sector for the purchase of 38 foot vessels are considered to be adequate.