ECONOMIC ANALYSIS OF ARTISANAL FISHING IN EPE LOCAL GOVERNMENT OF LAGOS STATE, NIGERIA: PRICE- SUPPLY RELATIONSHIP

Abstract

An economic analysis of artisanal ?iaB14n% in Epe, Lagos State was came out to determine the existing relationship between fish supply by fishermen and the market prices as indexed by the price of close substitutes and cost of production. Data were obtained Prom a random sampling of 300 artisanal fishermen from 10 cooperative societies in the Local Government Area, utilizing a designed structural questionnaire and oral interview. All data were subjected to multiple correlation analysis to determine the existing relationship between quantity of fish, and price of close substitute (meat) and cost of production. The results indicate that the coefficient of determination R2 was 21 percent and statistically significant at 5 percent Z test and connotes a string co-relationship between the quantity of fish replied by the fishermen with the prices and cost of production. It was also found that both the coefficients of meat and cost of production were positively signed with 1.58 and 0.02 respectively, an indication of a weak correlation.
Over all, the results showed a sharp shift in the consumption pattern from fish to meat which was cheaper and even more available.