There are no sufficient quantitative data to demonstrate the economic viability of aqua-projects. Many fish farmers start their enterprises only to abandon them because of their inability to make decisions on the level of intensity to adopt, what capital to invest and how the available capital can be utilized, the labour force required and how to utilize the labour and what to be done to distribute the demand for labour more evenly throughout the year. Due to lack of information,many farmers depend on trial and error, which often lead to failure. Many management techniques relating to feeding, fertilization, stocking, liming and monitoring of parameters are not known to them. High capital outlay and inadequate supply of fish seeds have also constituted constraints to growth of aquaculture. This poor performance and the enormity of the problems has necessitated this study, in order to identify the cause of inefficiency and thus enhance increased production and productivity in fish farming. Also the study used parametric approach to test for the presence of inefficiency in aquaculture in Ondo State such that basic information required for aquaculture development is given.