Effect of Cost Consciousness in Fishing Settlements of Cross River State, Nigeria on Income Declaration and Measurement for Inclusion in Gross Domestic Product

Abstract

This study examines the effect of cost consciousness in fishing settlements in
Nigeria on income declaration and measurement for inclusion in Gross
Domestic Product (GDP). The survey research design is adopted because
this study made use of primary data. The population of the study comprises
all the fishing settlements of Cross River State, Nigeria. A sample of five (5)
fishing settlements is chosen judgmentally. One hundred (100) copies of
questionnaire are distributed but only 80 are returned and used for analysis.
The data are analyzed using linear regression method with the aid of SPSS
20 because of its versatility. The study discovers that cost consciousness in
fishing settlements needed for inclusion in GDP are jointly significant but
individually the cost needed for income declaration and measurement in
fishing settlements in study area are found to be insignificant. The study
recommends among others that government should reinforce the fishing
management system via fishing settlement control agencies and regulatory
bodies that will regulate the activities of these fishing settlements ensuring
that income generated are declared and measured reliably for inclusion in
GDP.