PRODUCTIVE EFFICIENCY OF FISH PRODUCTION: A PANACEA.FOR ECONOMIC RECESSION AMONG FARMING HOUSEHOLD IN SOUTH-WEST, NIGERIA

This study investigates the level of production and cost efficiency as well as economic efficiency of fish farming. The study is based on primary cross sectional data collected from six local government area (LGAs) selected from the six( 6) states that make up the of South-western zone of Nigeria, on a representative basis of one local government per state. The farmer's economic efficiencies are estimated as the product of TE and AE. The production technology of the farmers is assumed to be specified by the Cobb-Douglas frontier production function. Findings from the results indicated that a unit increase in use of feed, high stock density, quantity of lime and organic fertilizer used will increase fish output. The study revealed that fish farming operation in the study area is yet to achieve its maximum possible efficiency level. The results indicate that involvement in fish farming under high level of productive efficiency will increase fish supply in Nigeria, thereby reducing fish importation with an attendant improvement in the value of foreign reserve and by extension stability in the foreign exchange value. . KEYWORD: Fish, Production efficiency, Cost efficiency, Economic Efficiency, Stochastic frontie