Port Concession and Economic Growth in Nigeria

Abstract

Every government in the globe wants to achieve economic growth irrespective of the environmental challenges. The Nigerian economy is faced with different macroeconomic issues that are connected to the exportation and importation through the ports. Thus, the study examined port concession and economic growth in Nigeria. Ex-post facto research design was employed. The study used secondary data collected from 1995 to 2005 and 2006 to 2024 on the variables of concern from National Bureau of Statistics (NBS) and Central Bank of Nigeria. The study made used of econometric techniques-Chow test. The findings showed port congestion variables (cargo throughput, gross registered tonnage, ship traffic volume) have significant effect on economic growth before the concession era.  The findings also indicated that only cargo throughput has a significant effect on economic growth during the post concession era. The study concluded that cargo throughput is the most effective port operations that has a significant contribution to the Nigerian economic growth during the pre-concession and post concession. Thus, the study recommended there is a need for the provision of resources and policy formation for proper functioning of the port operations to enhance economic growth in Nigeria. The findings will be useful for the government and Nigeria Port Authority on how to improve the operations of the ports towards achieving its purpose of being privatised.