Profitability Analysis of Marine Artisanal Fishing Operations in Ondo State

This study conducted a profitability analysis of marine artisanal fishing operations along the coastline of Ondo State, South West Nigeria, with emphasis on identifying the economic drivers and constraints influencing fisher income. Despite the biological productivity of the Bight of Benin, many artisanal marine fishers in Ondo State operate near subsistence margins, constrained by high operational costs and market inefficiencies. Primary data were collected from 95 artisanal fishing households in Ilaje and Ese-Odo local government areas. Data covered vessel type, gear used, crew size, fuel consumption, landing frequency, catch composition, market channels, gross receipts, and total variable costs. Profitability was computed through partial budget analysis and cost-benefit ratios. Results showed wide variability in profitability across vessel types. Motorised canoe operators using purse seines recorded the highest average monthly gross profit of 180,000 naira, while non-motorised dugout users recorded average monthly profits below 30,000 naira. Fuel costs accounted for 38 percent of total variable costs, making operations highly sensitive to fuel price fluctuations. Lack of market price information led to an average 22 percent below-market-value sale price for first-sale transactions. Access to institutional credit was available to only 14 percent of operations. Fish spoilage at sea and at landing sites reduced effective revenue by an estimated 17 percent. The study recommends investment in motorisation subsidies, fuel cost reduction programmes, real-time market price information systems, and cold chain infrastructure at major Ondo State fish landing beaches to improve artisanal marine fishing profitability. Keywords: profitability analysis, artisanal fishing, marine fisheries, Ondo State, fishing economics