Economic Viability of Clarias gariepinus Fingerlings Production in Ibadan, Oyo State, Nigeria

Profitable fish farming, as one of the fastest growing sectors of food production, requires the knowledge of resource use efficiency, especially by farmers who run hatchery. This study therefore examined the economic viability of Clarias gariepinus fingerlings production in Ibadan, Oyo State, Nigeria. The study used primary data sourced from 31 purposively selected hatchery farmers. Data were analysed using descriptive statistics, profitability ratios, 3-points likert scale, and Pearson chi-square correlation test. Findings show that Clarias spp. was mostly cultured alone (38.7%) for over 6 months (77.4%), broodstocks were mainly sourced from private farms (61.3%), and fingerlings were harvested more than thrice per year (71.0%). The average fish seed produced per cycle is 15,451.6. The costs and returns per cycle showed a higher total variable cost (₦237,919.90) than the total fixed cost (₦104,705) incurred, of which fish feed had the highest proportion (22.6%). The profitability results show a positive benefit-cost ratio (1.54), expense structure ratio (0.44), and return on investment (0.54), showing that production of catfish fingerlings is economically viable. Furthermore, there exist significant relationships between cost of fish feed (x2=16.336, p<0.01), poor fish breed (x2=9.772, p<0.05), obsolete technologies (x2=17.718, p<0.01), and transportation cost (x2=16.118, p<0.01) with production capacity of catfish fingerlings. Thus, challenges faced by fingerling-producing farmers significantly influence the production capacity of catfish fingerlings in Ibadan. Therefore, measures should be put in place to ensure affordable loans, prompt extension services, availability of fish feed, and supply of quality broodstock to hatchery fish farmers in Ibadan, Oyo state, Nigeria.