Determinants of Maritime Trade in Nigeria: A Theoretical Underpinning
Publication Date: 15/08/2020
Author(s): Richard Osadume (Ph.D, FCA), Azuka Monday Okuoyibo.
Volume/Issue: Volume 3 , Issue 2 (2020)
Abstract:
This paper studies the determinants of Maritime Trade in Nigeria: A Theoretical Underpinning. The objective of this study is to establish the conceptual and theoretical constructs that determines Maritime Trade in Nigeria. The study adopted a theoretical approach and examined key literature, theories and empirical works. The findings from this study showed that maritime trade contributes to economic growth and concludes that growth in Maritime trade is necessary for Nigeria maritime subsector growth and recommends amongst others the full and speedy implementation of the port reforms as this will assist open up the Nigerian seaports for increased trading activities and maritime revenue; It further urged the government to create enabling environment for indigenous vessel owners and operators through granting of access to the country’s Cabotage vessel Financing funds to acquire bigger and sophisticated vessels to boost international Shipping business.
