Economic performance of crab fishery in Lagos lagoon, Nigeria
Keywords:
Crab fishery, economic viability, economic performance, returns on capital, Lagos lagoonAbstract
The study evaluates the economic performance of small-scale crab fishery operations in terms of economic
indicators and success performance during 2009 and 2010 fishing season in five lagoon systems in Lagos state.
The objectives of the study were to state economic viability of the crab fishing activity and to identify factors
influencing the cost structure. Initial analysis reveals that a large variation in cost structure exists in the crab fishing
in Lagos lagoon. Economic results of the study showed that small-scale crab fishing have a positive net profit and
fully recover their costs, with no losses. The net cash flow, economic and financial performance of the crab fishers
was very satisfactory. The result shows that increasing catch decreases costs implying that scale and improving
efficiency is key to reducing cost.
