Assessing Formal Credit Access for Fishery Development: A Study of Fisher Socio-Economic Characteristics, Demand, and Issuance in Bayelsa State, Nigeria (2010-2015)

Authors : Eli, A.A; Solomon E.A.

Volume/Issue : Volume 8 - 2023, Issue 9 - September

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This research explores the critical role of fisheries in Nigeria's economy, focusing on Bayelsa State. Despite contributing 3–5% to the agricultural GDP and being a vital protein source for Nigerians, the fisheries sub-sector faces challenges, notably in credit accessibility. The study investigates the nexus between credit, socioeconomics, and technology in Bayelsa's fisheries. With a population of 1.7 million, Bayelsa heavily relies on fishing, making the study pertinent. Data for the study was obtained from 160 fishers drawn from random but purposefully selected four Local Government Area’s. (LGA) In each LGA four fishing communities and within each, 10 fishers were randomly selected based on list of registered fishers obtained from the Bayelsa Agricultural Development Programme Fisheries Division. The instrument of the study was a pre-tested questionnaire containing structured items, developed from literature review seeking responses on the fishers socioeconomic and demographic information. Information on the demand, issuance receipt of credit and value involved was obtained from the Bayelsa branch of Bank of Agriculture. Data collected was analyzed with descriptive statistics and presented in tables and chart and also inferential statistics (Pearson Product Moment Correlation). The socioeconomic characteristics of fishers reveal a male-dominated occupation, and the adoption of technology stands as a transformative force. However, the study finds a modest correlation (4%) between availed credit and technology adoption, emphasizing the need for targeted financial support. The results underline the inadequacy of current credit allocations, hindering progress in the fishing industry. The study's findings provide valuable insights for policy formulation, advocating for targeted credit schemes, gender-sensitive policies, and technology integration. The recommendations aim to address the identified challenges, fostering sustainable fisheries development in Bayelsa State. Overall, this research contributes to the understanding of the complexities and opportunities in fisheries development.

Keywords : Fishery Development, Formal Credit Access, Bayelsa State, Socioeconomic Dynamics, Fisheries, and Technology Adoption.


Paper Submission Last Date
31 - December - 2023

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