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.