Aquaculture Risk Financing Strategies and Food Safety among Selected Fish Farmes in Lagos Metropolis: A Simple Linear Regression Analysis

Abstract

This study examines the effect of aquaculture risk financing strategies on food safety among fish farmers in Lagos Metropolis, Nigeria, amid growing concerns over production risks, limited financial resilience, and compliance with food safety standards. A descriptive survey research design was adopted, and data were obtained from 141 fish farmers using a structured questionnaire. The data were analysed using simple linear regression at a 0.05 level of significance. Findings reveal a statistically significant positive relationship between aquaculture risk financing strategies and food safety (R = 0.362; R² = 0.131; F = 20.938; p < 0.001), indicating that improved financing mechanisms enhance food safety outcomes. However, the moderate explanatory power suggests that additional institutional and operational factors also play important roles. The study concludes that risk financing is a significant but partial determinant of food safety. It recommends improved access to credit, expanded insurance coverage, strengthened cooperative financing, and targeted capacity-building to enhance resilience and compliance.