Assessing the Economic Impacts of Port and Shipping Infrastructure in Nigeria

The study examines the impact of maritime transportation infrastructure on Nigeria’s economic growth and development. Amongst others, the objectives were to assess the impact of port infrastructure on trade facilitation and economic development in Nigeria; investigate the effect of maritime transportation costs on Nigeria’s international trade and economic growth; evaluate the role of maritime transportation infrastructure in promoting regional development and economic growth in Nigeria, and develop a framework for optimizing maritime transportation infrastructure in promoting sustainable economic growth in Nigeria. The study adopted the Taro Yamane formula to determine the sample size of 225 out of 423 and there was 100% response rate. Observation and structured questionnaire were used for the collection of data. Quantitative data was analyzed using descriptive statistics, while qualitative data was coded and analyzed using the 4-point Likert Scale. The study finds, amongst others that Nigeria’s maritime transportation infrastructure is essential for the country’s economic development; Nigeria’s port infrastructure does not make the country competitive in the global market and it is important to develop a comprehensive framework for optimizing maritime transportation infrastructure in Nigeria, considering factors such as infrastructure development, sustainability, and stakeholder engagement. Accordingly, among others, the study recommends that Nigerian ports should be upgraded with modern facilities, equipment, and technology to increase efficiency, reduce congestion, and improve cargo handling capacity and Government can promote public-private partnerships (PPPs) to finance, develop, and operate maritime infrastructure projects, such as ports, terminals, and logistics facilities. PPPs can attract foreign investment, transfer technology and expertise, and improve the efficiency and sustainability of maritime infrastructure development.