The Study examined Port Revenue Performance and Economic Growth: The Nigerian Ports Authority Experience, 2010 to 2019. The objective of this study is to examine the effect of Port Revenue Performance on Nigeria's economic growth by critically evaluating the Nigerian Ports Authority Performance. The neoclassical growth theory was employed in the study and the Nigeria Ports Authority was chosen as its sample, covering the period from 2010 to 2019. The study used secondary time series data sourced from the Nigeria Ports Authority and the National Bureau of Statistics and used the ordinary least square regression and the Engle-Granger co-integration to test the variables at the 5% level of significance. The findings showed that total revenue to gross registered tonnage had positive and significant effect on economic growth while operating surplus to operating revenue showed a negative but significant effect and operating surplus to cargo throughput showed insignificant effect; there was no co-integration between the variables. The study concludes that Port revenue performance affects economic growth in the short-run only, and it recommends amongst others that policy makers should formulate appropriate and implementable regulatory framework that will address infrastructural deficits at the ports and stimulate increased utilization by major foreign vessel companies.
PurposeThis study investigated the impact of economic growth on carbon emissions on selected West African countries between 1980 and 2019. Simon-Steinmann's economic growth model provides the relevant theoretical foundation. The main objective of this study was to ascertain whether economic growth will impact carbon emissions.Design/methodology/approachThe study selected six-sample countries in West Africa and used secondary data obtained through the World Bank Group online database covering the period 1980–2019, employing panel econometric methods of statistical analysis.FindingsThe outcome indicates that the independent variable showed a positively significant impact on the dependent variable for the pooled samples in the short-run, with significant cointegration.Research limitations/implicationsThe study concluded that economic growth significantly impacts the emissions of carbon, and a 1% rise in economic growth will result to 3.11121% unit rise in carbon emissions.Practical implicationsPolicy implementation should encourage the use of energy efficient facilities by firms and government and the establishment of carbon trading hubs.Social implicationsFailure by governments to heed the recommendations of this research will result to serious climate change issues on economic activities with attendant consequences on human health within the region and globally.Originality/valueThis is one of the comprehensive works on subject covering the West African region within the continent.
The Study examined External Debt and Infrastructural Developments in Emerging economies: Evidence from Nigeria, 1979 – 2019. The objective is to examine whether there is a nexus between external debt and infrastructural developments by evaluating the relationship between both variables using available evidences from Nigeria. The balance-growth theory was employed and the sample period covered 40 years with data obtained from World Bank Group online database. The study used Robust least square regression, Autogressive Distributed lag (ARDL), and the Error Correction Model to test the variables at the 0.05 significance level. The results indicates that external debt has positive and significant effect on the dependent variable in the short-run, but shows no significant correlation with infrastructural developments proxy by capital investments in the long-run and negatively insignificant nexus with real GDP. This study concludes that while foreign debt has significant relationship with the dependent variable in the short-run, it however, has insignificant correlation with infrastructural development in the long-run; and recommends that external borrowing contracts should be based on sound credit appraisals, to finance self-liquidating priority projects.
This paper examined the prospects and challenges of maritime business in Nigeria. The study was considered under the following subheadings, introduction, origin of maritime business in Nigeria, the major seaports in Nigeria, prospects of maritime business in Nigeria, challenges of maritime business in Nigeria and conclusion. It was discovered that Nigeria is naturally endowed to explore and harness the gains from maritime trade. Also found was that, the identified challenges of poor funds, infrastructural dearth and others are hampering efficient and effective performance of these ports. Thus, the paper recommends that government and private sector under public private partnership (PPP) should raise capital to build maritime infrastructure for quality ports operations and the two maritime institutions (Maritime Academy, Oron and Nigeria Maritime University, Okerenkoko) be empowered with funds and infrastructure that will enhance research, teaching and training manpower for the maritime industry.
Globalization has brought compelling changes to the world transport systems and ways through which domestic goods are marketed. The main objective of this research is to determine the effect of globalization and transport mode on the marketing of goods made in Africa and the difference in consumer choice for imported products and domestic goods. A 10-item validated structured questionnaire was administered to 300 civil servants of selected parastatals from five states in Nigeria. The feedback statistics showed that a total number of 280 (93.3%) questionnaires were retrieved and 20 (6.7%) were rejected. The results obtained were subjected to analytical procedures of correlation and multiple regression. The study used clothing as research sample to test the effect of globalization and transportation mode on consumer preference for imports over local products and vice-versa. It was found that globalization and chosen transportation mode have a significant effect on marketing of goods made in Africa and on consumer preference. The resultant effects were numerous including capital flight, development of new markets, transport-induced costs, etc. The study recommends governments in Africa to re-orient the African population to appreciate and patronize domestic goods, and implement appropriate modern transportation systems, and ICT tools to promote domestic goods.
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