The Impact of Port Congestion on The Nigerian Economy
Journal Title: International Journal of Scientific Research and Management - Year 2015, Vol 3, Issue 7
Abstract
This research assessed the impact of port conge stion on the Nigerian economy. It also examined critically, the factors affecting port performance and its impact on the Nigerian economy. Relevant literatures on port congestion and its effects on port productivity were reviewed. Secondary data were obtai ned from Central Bank Statistical Bulletin and Nigerian Ports Authority annual bulletin. Data for GDP, Imports, Exports and ports indicator of utilization and of service (Ship c alls, Cargo throughput ) for a period of 18 years (1995 - 2012) were analyzed us ing Multiple Regression with the aid of Statistical Package for Social Sciences (SPSS V.20.0), to determine the degree of significance of variables affecting port economic drivers. From the result of the analysis, it was deduced that imports, exports, carg o throughput and berth occupancy ratio correlate significantly and are statistically impacted by GDP variable. Nigerian economy is dependent on the export of Crude oil and Agricultural produce to earn foreign income, while our industries is dependent to a large extent, on the importation of materials needed for their consumption or production activities. Therefore, stagnation in port operations (ports congestion) will have dire economic consequences on the economic growth of the nation. Expanding gate opera ting hours will maximise the use of off - peak roadway capacity. Nigerian ports should start offering 24 hour/day gate operations to improve berth utilisation rate, reduced cargo d well time, enhanced ship turnaround time. This will discourage the diversion o f Nigeria bound cargo to ports of neighbouring countries, which implies improved revenue yield to the Nigerian economy. From the test of hypothesis, using the statistical student t - test, there is a strong, statistical, significant relationship between Gros s Domestic Product and port performance economic driver s (imports, exports, ship calls and cargo t hroughput )
Authors and Affiliations
ONYEMA, Henry Kelechi
Keywords
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