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Financial returns in contract fishing in Akwa Ibom State, Nigeria

Author

Listed:
  • Frank, Namso N.
  • Akpaeti, Aniekan J.
  • Nyong, Eteyen E.

Abstract

The recent resurgence of contracting in fisheries suggests a positive balance in the investment returns of contract fishers. Data were collected from 232 artisanal fishers (contracts, former and those that have never been in contract) for analysis. Results show that the fishermen differed in their investment layout with outboard engine taking highest investment capital of 57.9%, 59.8% and 49.9% for contract, former and non-contract fishers respectively. Variable costs of inputs of the fishers were N5929.13, N5488.4 and N4869.7 for former, contract and non-contract fishers respectively. Analysis of financial performance models of investment used showed that contract fishers had higher Return on Investment (ROI) (43.57%), Return on Assets (ROA) (22%), and Gross Margin (N4,345:00) than the former and those that have never been in contract before. However, Operating Profit Margin (OPM) was higher for former contract fishers (64.58%) seconded by non-contract fisher (60.84%) and tailed by contract fishers (56.89%). The study concluded that contract fishing gives higher returns compared to its best alternative.

Suggested Citation

  • Frank, Namso N. & Akpaeti, Aniekan J. & Nyong, Eteyen E., 2017. "Financial returns in contract fishing in Akwa Ibom State, Nigeria," Nigerian Journal of Agricultural Economics, Nigerian Journal of Agricultural Economics, vol. 7(1), October.
    • Handle: RePEc:ags:naaenj:268451
    DOI: 10.22004/ag.econ.268451
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