Influence of reciprocal financial resources on shrimp fishers' income sources in Southern Nigeria

Abstract

The study examines reciprocal financial relationships' influence on shrimp fishers' income sources and their motivation in Rivers State, Nigeria, fishing communities. A mixed methods design was employed using a semi-structured questionnaire, interview guide and checklist to collect data from 125 shrimp fishers and 20 Key informants. Data on shrimp fishers' financial contributions were subjected to UCINET 6.647 Net draw to generate a sociogram. Fishers' income sources and motivating factors were subjected to content analysis and multiple regression. The results showed that shrimp fishers in Rivers State pay dues, contributions and donations to obtain revolving loans from their network and receive remittances from relatives. The sums of money are invested in fishing equipment and off-fishing ventures. 44% of fishers relied on remittances and loans for investment. However, enabling institutional framework and support from external agencies are motivating factors to join a social network which aims at improving income sources among shrimp fishers in line with Sustainable Development Goals 16 and 17. Shrimp fishers who engage in a reciprocal financial relationship have their income sources improved by diversifying into off-fishing ventures. The study recommends that Shrimp fishers register as cooperatives to attract more support from government and donor agencies.