The Challenges and Prospect of Maritime Industry in Nigeria

Abstract

Inland waterways are made up of navigable rivers, lakes, creeks, lagoons
and canals. The movement of goods and services along inland waterways is one of
the oldest means of transporting goods and services from one point to another. This
was largely since inland water transportation offers the most economical, energy
efficient and environmentally friendly means of transporting all types of cargoes
from place to place. It also offered safe and cheaper transportation in areas with
watercourses. Obviously, the economic development of most developing nations of
Africa, including Nigeria, should reflect in the development, organization,
coordination and management of this sea-borne trade, which is critical and cardinal
to the development of international trade with other nations of the world. This is
because, maritime-transport services duly serve as the propelling anchor and
evolving force for the survival, hence, the formulation of execution of policies that
disrupt the efficient running of this vital sub-economic system globally, will affect
the efficiency and well-being of the enlarged society as well as the people. Nigeria
is a major international trading nation in Africa, exporting large quantities of
hydrocarbons to earn substantial revenue which accrue from crude oil export and are
used mainly to fund huge trade in imports.