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

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

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 StormRisk FactorSmall Scale Fish Business and Incentive-Based Risk Sharing System

References

Abiodun, W. J. and Ayanda, S. A. (2007). New Venture Strategies in Fish Business. Ibadan: Heinemann Educational Books Nig. Ltd. pp. 7. Akpan, A. E. (2004). Fundamentals of Entrepreneurship. Ikot Ekpene: Brain Publishers (Nig) Limited. pp. 10. Akpan, S. F. (2015). Together We are the Answers : A Blueprint for the Development of Akwa Ibom State. Lagos: Teefag Communications. pp. 3. Collin, E. D. (2003). The Official Collins Dictionary online. Available at http://www.dictionaryreference.com/browse/tid. Accessed 22nd June, 2015. Ekpo, I. E. and Essien-Ibok, M. A. (2013). Development, Prospects and Challenges of Artisanal Fisheries in Akwa Ibom State. International Journal of Environmental Science, Management and Engineering research, 2(3): 69-86. Enemugwem, J. H. (2001). The Significance of the Niger Delta to the Political and Economic Development of Nigeria, 1847-1999, Unpublished Ph.D Thesis, University of Portharcout, Rivers State. Enemugwem, J. H. (2005). Perspective for the Development of the Niger Delta Region: A Case Study of Eastern Obolo and Ibeno Areas: A Paper Presented on the Occasion of End of Year Okorombokho Youth Convention held at Obolo Hall Okoroete, Eastern Obolo, Akwa Ibom State, 31st December. Hamilton, W. H., Conelly, D. F. and Doster, D. H. (2001). Agribusiness: An Entrepreneurial Approach. New York: Delmar Publishers Inc. pp. 3. Misra, R. S. (2012). Fishery Dary. Ganj: Manzal Publishing Corporation. pp. 2. Olaitan, S. O. and Nwoke, G. I. (2000). Practical Research Methods in Education. Onitsha: Summer Educational Publishers Ltd. pp. 3. Sanusi, S. L. (2011). Growing Nigeria’s Real Sector for Employment and Economic Development: The Role of Central Bank of Nigeria. Being a Paper Delivered at the Inaugural Memorial lecture in Honour of Late Professor Okefie Uzoaga at University of Nigeria, Nsukka; Enugu State, 9 February. Small and Medium Scale Enterprise Development Agency (2014). Akwa Ibom Business Review. Uyo: Scholars Press. pp. 2. State Department of Fisheries (2002). Akwa Ibom State Aquaculture Guide. Uyo: Soulmate Press and Publishing. pp .2. State Department of Fisheries (2015). Challenges and Prospect of Fishing in Akwa Ibom State. In: Annual Report 2013-2014. Directorate of Artisanal Fishery, pp .3. Udoh, A. O. and Joseph, E. (2005). Foundations of Educational Research. Uyo: Sifon Publishers. pp. 2. Uzoagulu, A. E. (2011). Practical Guide to Writing Research Project Reports in Tertiary Institutions. Enugu: Cheston Limited. pp. 6.

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

Abstract

Keywords

References

More Articles from IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT