Profitability of farming enterprise is a key motivational factor towards participation in such enterprise. This study thus,
examined the profitability of aquaculture and artisanal fish farming in Lagos, Nigeria. Data for the study were collected with
the aid of a structured questionnaire from a cross section of respondents selected using multistage sampling procedure.
Descriptive statistics and budgetary technique were used to analyze the data. The results obtained revealed that, both
aquaculture and artisanal fisheries were profitable in the study area as depicted by gross margin and benefit-cost ratio of
(N104, 392.07; 1.34) and (N 271, 175; 1.36) (N, Nigerian Currency, N157 = 1$US) respectively. The constraints to fishery
production in the area were: capital inadequacy, water pollution, and epileptic electric supply, high cost of labor and high
cost of inputs. Based on these, it was recommended that fish farming inputs be subsidized and improvement in fish farming
equipment, fish farmers’ financial base should be improved through granting of soft loans and membership of co-operative
societies or farmer groups. Also, there is need for government intervention in the control of water pollution to enhance
productivity.