Determinants of Climate Change Risk Management Strategies Among the Aquaculture Fish Farmers in Nigeria Using Multinomial Logit Model

Abstract

Nigeria's domestic supply of fishery products falls short of the demand; however, there is a growing aquaculture industry that has come to the rescue in filling the gap between supply and demand. The aquaculture fish farmers are prone to the risk of climate change, since weather and extreme events have become more unpredictable. This study assessed the climate change risk management strategies among the aquaculture fish farmers' in Southwest Nigeria. Multi-stage sampling technique was used to select 480 aquaculture fish farmers' in the study area. Descriptive statistics, likert scale and multinomial logit model were used to analyze the data. The study revealed that all the respondents were aware that climate is changing. The commonly used adaptation strategy by the fish farmers in the area was use of concrete /plastic pond (78%). The result of the multinomial logit model revealed that farm income influences the adoption of flood control/provision of water outlet by 19.22%, provision of alternative water supply (Well/Borehole) by 45.11% and the use of the concrete/plastic pond by 18.89%. Flood control/provision of water outlet, providing alternative water supply (Well/Borehole), use of concrete /plastic pond are all investment that were positively significant at 1%. Therefore, increase in farm income will lead to increase in these adaptation strategies to mitigate the effects of climate change on fish production in the study area. The study recommends that government at all levels should provide loan at a single digit interest rate to mitigate the effects of climate change on aquaculture fish farming.