Socioeconomic determinants of profitability of fresh fish marketing in Ogun State, Nigeria

Purpose - – The purpose of this paper is to examine the socioeconomic determinants of profitability of fresh fish marketing in Ogun State, Nigeria. Design/methodology/approach - – The study was a cross-sectional survey of 120 fresh fish marketers selected randomly from four major fish markets in Ado-Odo Local Government area of Ogun State, Nigeria. Data were collected using structured questionnaire which was designed to solicit information on the marketers’ socioeconomic and marketing characteristics, operating costs and returns, and problems associated with fish marketing in the study area. A combination of descriptive statistics, marketing margin, budgetary and ordinary least square regression analyses were employed to analyze the study data. Findings - – The study showed that female (85.8 percent) dominated fresh fish marketing. The percent marketing margin of fresh fish was 34.55 percent. The percent marketing investment of 20,906.03, 20,453 per month and 1.43 were realized, respectively. The result of the regression analysis revealed that profit from fresh fish was significantly determined by education, proportion of household members involved in fresh fish marketing, marketers experience, capital, number of sales outlet and purchase price. Research limitations/implications - – The findings was based on information supplied by the fresh fish marketers in the study area based on the authors memory recall since most of the respondents do not have diary where records of activities were kept before the survey. Practical implications - – This study contributes to the existing literature in fish marketing and will provide empirical information to policy makers in the formulation of appropriate policies. It will also serve as a guide to practicing and prospective fresh fish marketers and to researchers who may investigate further into the subject matter. Social implications - – The social implications from the findings on the return on investment of 1.43 implies that for every one naira invested by fresh fish marketers, a return of 1.43 and a profit of 0.43 were obtained. The study concludes that fresh fish marketing is an economically rewarding and profitable venture in the study area. It also recommends the need to provide credit facilities to finance storage facilities of this group of marketers. Originality/value - – The study is original in nature and revealed the economic status of fresh fish marketing in Ogun State, Nigeria.