GLOBAL JOURNAL OF FISHERIES SCIENCE
Integrity Research Journals
ISSN: 2782-750X
Model: Open Access/Peer Reviewed
DOI: 10.31248/GJFS
Start Year: 2018
Email: gjfs@integrityresjournals.org
Evaluating the economic performance of the aquaculture value chain in Lagos State, Nigeria
https://doi.org/10.31248/GJFS2025.093 | Article Number: 9B45AF501 | Vol.8 (1) - February 2026
Received Date: 08 October 2025 | Accepted Date: 30 December 2025 | Published Date: 28 February 2026
Authors: O. G. Falana* , A. A. Jimoh and G. O. Mekuleyi
Keywords: evaluation, Agricultural zones, economic performance
The role of fish farmers, feed sellers, sellers of aquatic products and accessories, fish processors and fish mongers, among others, in Lagos state cannot be ignored. However, to date, there is no documented report on the economic performance of these actors in the agricultural zones of Lagos State. The sampling sites for the study were the three Agricultural Zones (Far Eastern, Eastern and Western) in Lagos State. A simple random sampling technique was adopted to select respondents, while data were collected using a structured questionnaire. Data were analysed using descriptive statistics (frequency and percentage) and inferential statistics (analysis of variance, principal component analysis (PCA). Economic performance was estimated with indices such as gross margin, net return on cost, net profit, net rate of return in ratio, benefit cost ratio, and return on investment. The estimated gross margin was highest for fish farming, and this was recorded in the western zone. However, the least gross margin was also recorded in the Western zone from sellers of aqua-products. The Return on Investment (ROI) for the fish farmers in the Eastern, Western and Far Eastern zones was 0.77, 0.64 and 0.47, respectively, implying that for every Naira invested in the business, there was a return of 77K, 64K, and 47K, respectively. The values of BCR for all the actors were above one (1), indicating potential to be very viable. In conclusion, the findings in this study have shed light on the complex interplay of efficiency within the aquaculture value-chain performance in Lagos State.
| Aarstad, J., Jakobsen, S. E., & Fløysand, A. (2023). Norwegian aquaculture firms' Emphasis on environmental and social sustainability compared to firms in other industries. Fishes, 8(2), 115. https://doi.org/10.3390/fishes8020115 |
||||
| Ababouch, L., Nguyen, K. A. T., Castro de Souza, M., & Fernandez‐Polanco, J. (2023). Value chains and market access for aquaculture products. Journal of the World Aquaculture Society, 54(2), 527-553. https://doi.org/10.1111/jwas.12964 |
||||
| Abasilim, C. F., Samuel, O. B., & Onyewuchi, I. V. (2020). Economic analysis of artisanal fisheries value chain in Epe Lagoon, Lagos State, Nigeria. Ife Journal of Agriculture, 32(2), 91-101. | ||||
| Agbebi, F. O., Ikuerowo, J. O., & Ogunsakin, O. Y. (2020). Profitability analysis of artisanal fishing in Ilaje Coastal Communities of Ondo State. American Journal of Rural Development, 8(1), 12-16. | ||||
| Ajayi, O., Akinrinlola, A., Usman, A., Muhammed, A., & Vander-Knaap, M. (2022). Aquaculture development in Nigeria and FAO's Role. In FAO Aquaculture News-International Year of Artisanal Fisheries and Aquaculture 2022; Special Issue; FAO: Rome, Italy. Pp. 21-24. | ||||
| Anetekhai, M. A., Mekuleyi, G. O., & Aderinola, O. J. Economics Evaluation of Ecological Services of Some Aquatic Ecosystems in Badagry Division, Lagos, Nigeria. Asian Journal of Environment and Ecology, 18(4), 42-50. https://doi.org/10.9734/ajee/2022/v18i430332 |
||||
| Asiedu, B., Adetola, J. O., & Odame Kissi, I. (2017). Aquaculture in troubled climate: Farmers' perception of climate change and their adaptation. Cogent Food & Agriculture, 3(1), 1296400. https://doi.org/10.1080/23311932.2017.1296400 |
||||
| Boro, F. E., & Agbugba, I. K. (2022). Economics of artisanal fish production in Gokana local government area of Rivers State, Nigeria. Journal of Business Strategy Finance and Management, 4(2), 202-213. https://doi.org/10.12944/JBSFM.04.02.03 |
||||
| Bush, S. R., Belton, B., Little, D. C., & Islam, M. S. (2019). Emerging trends in aquaculture value chain research. Aquaculture, 498, 428-434. https://doi.org/10.1016/j.aquaculture.2018.08.077 |
||||
| Coulibaly, O., Arinloye, D., Melle, C., Fanou, J., Agbahey, J., Allomasso, R., Nouhoheflin, T., Koumassa, L., Adetonah, S. & Hell, K. (2010). Value chain analysis: Analytical toolkit and approaches to guide the development of sustainable African Agrifood Chains IITAIFADPRONAF (Cowpea Project for Africa). An IFAD Grant Training Course. | ||||
| Food and Agriculture Organization (FAO) (2023). Unlocking the Potential of Sustainable Fisheries and Aquaculture in Africa, the Caribbean and the Pacific-Nigeria; FISH4ACP Factsheet; FAO: Rome, Italy, 2023; Retrieved 23rd September 2023 from https://www.fao.org/in-action/fish-4-acp/where-we-work/africa/nigeria/ru/. | ||||
| Food and Agriculture Organization (FAO) (2020). The State of World Fisheries and Aquaculture. Rome, Italy. Retrieved from https://www.fao.org/ documents/card/en/c/I9540EN/. | ||||
| Fawehinmi, O., Omitoyin, S. and Jim-George, O. (2017). Determinants of output of small scale fish farmers inIkorodu, Nigeria. African Journal of Fisheries and Aquatic Resources Management, 2, 55-65. | ||||
| Folorunso, E. A., Rahman, M. A., Sarfo, I., Darko, G., & Olowe, O. S. (2021). Catfish farming: a sustainability study at Eriwe fish farming village in southwest Nigeria. Aquaculture International, 29(2), 827-843. https://doi.org/10.1007/s10499-021-00662-0 |
||||
| Gbigbi, T. M., & Achoja, F. O. (2019). Cooperative financing and the growth of catfish aquaculture value chain in Nigeria. Croatian Journal of Fisheries, 77(4), 263-270. https://doi.org/10.2478/cjf-2019-0020 |
||||
| Gollin, D., Hansen, C. W., & Wingender, A. M. (2021). Two blades of grass: The impact of the green revolution. Journal of Political Economy, 129(8), 2344-2384. https://doi.org/10.1086/714444 |
||||
| Joseph, O. O., Mekuleyi, G. O., Jimoh, A. A., & Jakkari, B. S. (2024). Economic analysis of operation of artisanal fisherfolks and fish marketers associated with three creeks in Lagos, Nigeria. Lagos Journal of Contemporary Studies in Education, 2(1),102-112. https://doi.org/10.36349/lajocse.2024.v02i01.009 |
||||
| Kaminski, A. M., Genschick, S., Kefi, A. S., & Kruijssen, F. (2018). Commercialization and upgrading in the aquaculture value chain in Zambia. Aquaculture, 493, 355-364. https://doi.org/10.1016/j.aquaculture.2017.12.010 |
||||
| Nse-Nelson, F. A., & Oke, U. R. (2015). Economics of fish marketing by women in Aba Agricultural Zone of Abia State, Nigeria. International Journal of Applied Research and Technology, 4(6), 26-31. | ||||
| Ogunbanwo, O. M., Okeowo, T. A., & Adeniyi, T. (2021). Economics of fish farming in Ikorodu Area of Lagos State, Southwest Nigeria. International Journal of Advanced Research and Review, 6(4), 27-34. | ||||
| Rosales, R. M., Pomeroy, R., Calabio, I. J., Batong, M., Cedo, K., Escara, N., acunla, V., Gulayan, A., Narvadez, M., Sarahadil, M., & Sobrevega, M. A. (2017). Value chain analysis and small-scale fisheries management. Marine Policy, 83, 11-21. https://doi.org/10.1016/j.marpol.2017.05.023 |
||||
| Soladoye, O., & Ajibade, L. T. (2014). A groundwater quality study of Lagos State, Nigeria. International Journal of Applied Science and Technology, 4(4), 271-281. | ||||
| von Der Goltz, J., Dar, A., Fishman, R., Mueller, N. D., Barnwal, P., & McCord, G. C. (2020). Health impacts of the green revolution: Evidence from 600,000 births across the developing world. Journal of health economics, 74, 102373. https://doi.org/10.1016/j.jhealeco.2020.102373 |
||||
| Yamane, T. (1967). Statistics: An Introductory Analysis, 2nd Ed., New York: Harper and Row. | ||||
Copyright © 2026 Integrity Research Journals. All rights reserved.