Fuel wood is among the most expensive items in fish processing, knowledge on smoking efficiency of various agricultural wastes particularly sugarcane bagasse could be substitute for wood for fish smoking thereby reducing the cost, the problem of deforestation and eventually control of environmental pollution. The research was conducted to determine the efficiency ad cost-benefit analysis of ebony wood and sugarcane bagasse as fuel sources for smoking fish. The result of this study showed that the highest crude protein (65.15±0.20) was recorded in T. zillii smoked with ebony wood and the least (16.08±0.13) in fresh T. zillii. Similarly for ash, crude fat and nitrogen free extracts were observed, and the highest moisture (78.18±0.23) was recorded in fresh T. zillii and least (3.38±0.08) from T. zillii smoked with ebony wood. The differences in the proximate composition of the smoked T. zillii using ebony wood and sugarcane bagasse were significant (p<0.05). The organolepic assessment of the smoked T. zillii using ebony wood and sugarcane bagasse were not significantly different (p>0.05). The cost (₦150) for smoking with sugarcane was less with an equal quality with the cost (₦250) for smoking with ebony wood which is not environmental friendly.