IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 3 NO. 2 2017

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Coastal Storm and the Risk Factor in Small Scale Fish Business Operations in Akwa Ibom Coastline Communities, Nigeria

Ezekiel O. Akpan (Ph.D) & Mr. Eneawaji F. Ukoima

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Abstract

Coastal storm is one of the obvious challenges facing fish business in Akwa Ibom State, Nigeria as none over the years has grown from small to large scale. In this study, effort was made to determine the extent to which coastal storm could influence the operations of small scale fish business. Four research questions were answered in the study and three null hypotheses were tested at .05 level of significance. The population of the study comprised 1420 small scale fish business operators from fifty-one fishing communities that spread across eight Local Government Areas that situate along the coastal bank. Stratified random sampling technique was used in selecting a sample of 312 small scale fish business operators. The researchers developed a 30-item structured questionnaire (which was equally interpreted in local dialects) for data collection. The questionnaire items were face validated by three experts, two from Department of Vocational Education and One from Department of Educational Foundation; all from University of Uyo, Uyo. Cronbach Alpha method was used in calculating the reliability of the instrument and a correlation coefficient index of 0.82 was obtained which showed that the instrument was reliable. Data were analyzed using mean and standard deviation for research questions while the null hypotheses were tested to determine the influence using t-test. The findings of the study indicate that loss of personnel, lack of insurance cover and loss of fishing gears have high influence on the operations of small scale fish business. It is recommended that Akwa Ibom State Government should design an Incentive-Based Risk Sharing System (IBRSS) for fish business operators to enable them contain risks associated with coastline businesses.

keywords:

Coastal Storm, Risk Factor, Small Scale Fish Business and Incentive-Based Risk Sharing System

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