MARITIME LOGISTICS AND GROSS DOMESTIC PRODUCT: A STUDY OF NIGERIA SEAPORTS
MARITIME LOGISTICS AND GROSS DOMESTIC PRODUCT: A STUDY OF NIGERIA SEAPORTS

Summary/Abstract: Gross Domestic Product is significant in measuring economic well-being of countries world over. This study examined maritime Logistics factors on Nigeria Gross Domestic Product (GDP) with the view of evaluating the relationship as well as influence of the logistics factors (Vessel Movement (VM), and Cargo Throughput) in term of costs on Nigeria Gross Domestic Product. The study employed expo-facto research design with data obtained from Nigeria Port Authority (NPA), Central Bank of Nigeria (CBN) Statistical Bulletin and Records from Concessionaires of some of the ports. The results showed that Nigeria GDP has positive but weak association between Bulk Cargo (r = 0.16) and Cargo Throughput (r = 0.29) costs but inversely connected with Container Vessel (r = -0.33) and Roro Vessel (r = -0.13) costs. Though, the influence of the logistics factors except cargo throughput on Nigeria GDP is negatively insignificant. Nevertheless, they contributed 29.1% to the improvement of Nigeria GDP. It is recommended that government should augment cargo handling infrastructure at the seaports to increase costs efficiency that will not only increase revenue base of the government but also lead to improvement on Nigeria GDP.

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