Maritime Transport as a Tool of Economic Growth of a Nation (Nigeria)

Abstract

Maritime transport is an age-long transport system that has over the years been used for the movement of humans and tangible properties, especially bulky objects and liquid objects which may be too heavy or delicate for other forms of transport. The purpose of this paper is to assess and enumerate maritime transport as a tool of economic growth of a nation (Nigeria). It follows that the study aims at ascertaining the potency of maritime transport and its contribution to the economic growth of Nigeria. To attain the aim of this research study, it is needful to adopt a particular research methodology that will enable the researcher to make credible, valid, reliable, and accurate findings in line with the overall objective of the paper. Therefore, the research study will apply and adopt the qualitative method of research, particularly the desk-review approach. Through the desk-review approach applied and adopted, the research finds amongst other things that maritime transport contributes positively to the GDP of Nigeria, which is a major determinant of the rate of economic growth in a nation. The study finds that maritime transport facilitates other sectors of the economy as a major component in the value chains; thereby enabling such other sectors to make contributions to the economy which implies that it is also serving as a tool of the economic growth of Nigeria. In the study, it is observed that maritime transport as a tool of economic growth of a nation like Nigeria is being militated against by certain factors. However, such militating factors are resolvable if proper machinery is put in place and appropriate actions are taken. Finally, this study makes an enormous and unique contribution to theory, practice, and policy as it comes at a point when there is a need for the Nigerian government and investors to diversify the economy; therefore, a proper appraisal of maritime transport as a tool of economic growth of a nation like Nigeria would influence the making of policies and improve the practices in the maritime industry.