PROSPECTS AND CHALLENGES OF MARITIME BUSINESS IN NIGERIA

Abstract

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.