Application of Environmental Accounting Principles in Boosting Fish Production in Nigeria
International Journal of Natural Resource Ecology and Management
Volume 2, Issue 2, March 2017, Pages: 24-31
Received: Jan. 1, 2017;
Accepted: Jan. 16, 2017;
Published: Mar. 10, 2017
Views 1414 Downloads 78
Emmanuel Emeakponuzo Daferighe, Department of Accounting, University of Uyo, Uyo, Nigeria
Patience Etim Offiong, Department of Accounting, University of Uyo, Uyo, Nigeria
Joseph Alfred Emah, Department of Accounting, University of Uyo, Uyo, Nigeria
The paper is a result of the study of the application of environmental accounting principles in boosting fish production in Nigeria. The neglect of the agricultural sector in the country has been a major set-back to the economic development. Therefore, a focus on boosting fish production will be apart from promoting the standard of living and economic health; through increased protein intake; lead to sustainable economic development. The objective of the paper was to evaluate how relevant environmental accounting principles will be applied in achieving this sustainable economic development. It was a survey of fish farmers from the 31 Local Government Areas of Akwa Ibom State to whom a questionnaire was administered to determine the level of applicability of Environmental Accounting principles. Also, secondary data for the period 2004 and 2013 were analyzed to identify economic potential and macroeconomic effects on increased fish production. It was discovered that there was a huge potential of investment and growth in the fisheries sub-sector as only 34% of annual demand was met by production. It was also discovered that the level of awareness and relevance of Environmental Accounting Principles was very low. It was recommended that government should focus on the fisheries sub- sector by providing the infrastructure and adequate training on fish farming and environmental matters to the farmers. Also, regulatory activities should focus on recycling of water, waste water treatment and proper drainage and soak- away pits to reduce the discharge of farm water into the environment. These done will boost fish production and ultimately reduce the strain on the foreign exchange reserve of the country.
Emmanuel Emeakponuzo Daferighe,
Patience Etim Offiong,
Joseph Alfred Emah,
Application of Environmental Accounting Principles in Boosting Fish Production in Nigeria, International Journal of Natural Resource Ecology and Management.
Vol. 2, No. 2,
2017, pp. 24-31.
Adewumi, A. (2015). Aquaculture in Nigeria: Sustainability issues and challenges. Direct Research Journal of Agriculture and Food, Vol. 3 (2): 223-231.
Adewuyi, S., Bisiriyu, I. & Akinremi, C. (2010), Economic Analysis of Fish Farming in Calabar, Cross River State, Nigeria, Greener Journal of Agricultural Science, Vol. 3, No. 7: 542–549.
Aganyira, K. (2005). Aquaculture: A tool for sustainable development in Uganda: A case study of Kigoowa Women’s Development Association in Kampala District, University of Science and Technology, Trondheim–Norway.
Akenbor, A. & Ike, P. (2015). Analysis of technical efficiency of Catfish Farming in Edo State, Nigeria. Journal of Biology, Agriculture and Healthcare, Vol. 5 (2): 96-101.
Akinrotimi, O., Abu, O. & Aranyo, A. (2011). Environmental friendly Aquaculture: Key to sustainable Fish Farming development in Nigeria. Continental Journal of Fisheries and Aquatic Science 5 (2): 17–31.
CBN (2004). Central Bank of Nigeria Bulletin 2004 http://www.cbn.gov.ng/ OUTPUBLICATION/REPORTS/2004/STABULL-2005PDF
Chinsinga, B. (2008). Policy and Institutional framework review of the Fisheries sector in Malawi, Chancellor College, University of Malawi, Zomba.
Daferighe, E. E. (2010). Environmental Accounting and Degradation. A Quarterly Journal of Association of National Accountants of Nigeria, 18, No. 4: 55-67.
Daferighe, E. E. & Money, U. (2015). Environmental Accounting Practices by Corporate firms in Emerging Economics. Empirical Evidence from Nigeria, Advance in Research, 3 (2): 209–220.
Daniel, B. (2010). Why we need environmental accounting, opinion newspaper.
EMBO. (2001). Fish as Food: aquaculture Contribution, NCBI, Vol. 2 (11).
Eyo, A. & Ahmed, Y. (2005). Management of Inland capture fisheries and challenges in fish production in Nigeria. Federal College of Freshwater fisheries Technology.
FAO (2003). Into the next Millennium: Fishery perspective, future challenges in fisheries and aquaculture, http://www.fao.org/docrep/003/x6947e/x6947e09.htm.
Ghose, B. (2014). Fisheries and Aquaculture in Bangladesh: Challenges and opportunity. Annals of Aquaculture and Research Vol. 1 (1): 1001.
Hishamunda, N., Cai, J. & Leung, P. (2009). Contribution of commercial Aquaculture to economic Growth: An assessment framework. Policy and Institutional Framework Review of the Fishery Sector in Malawi.
Ibrahim, U., Shamai, B., Sanda, K., Lawal, J., Saidu, A., Majama, Y. Gambo, B., Badau, S. & Kushi, C. (2014). Socio-economic importance of Fish farming in Maiduguri, North- Eastern Nigeria. Nigerian Journal of Fisheries and Aquaculture. Vol 2 (1): 81-86.
 Kasum, A. (2010). Environmental degradation problems caused by human activities in Nigeria: Enforce (Taxation) versus voluntary (Social Responsibility) solution. International Journal of Banking, Accounting and Finance. Vol.2 (3): 236-249.
Lee, H., Chung, R. & Koo, C. (2005). On the Relationship between Economic Growth and Environmental Sustainability, Division of Economic and International trade, Kangwon National University, Hyoja 2 –dong, Chuncheon, 200-701, Republic of Korea.
Maxon M. & Stebbins, M. (2012). National Aquaculture Research and Development Strategic plan, http://www.whitehouse.gov/blog/2011/10/12/building-bioeconomy.
OECD, (2006). Rural Policy Reviews: The new Rural Paradigm. Policies and Government.: 41, 21, 60.
Oluwasola, O. & Damilola, A. (2013). Socio-economic and Policy Issues determining Sustainable fish farming in Nigeria. International Journal of Livestock Production Vol. 4 (1): 1–8.
Suuronen, P. & Bartley, D. (2014). Challenges in Managing Inland fisheries – Using the Ecosystem approach, Boreal Environmental Research 19: 245–255.
Tilley, D. & Martin, J. (2013). Environmental Accounting of Agricultural Sustainability Using Energy Analysis, Encyclopedia of Energy: 329-354.
Uche, M. (2014). Nigerian introduces import quota on Fish. Gain Report, USDA Foreign Agricultural services, http://www.fas.usda.gov.
UNDP (2012). UN Highlights Importance of Investing in Initiative that support Sustainable fishing, National Fisheries Strategy, Ministry of Fish Wealth, Republic of Yemen.