Correlate of Blue Economy Potentials: Challenges and Prospects for Economic Development in Nigeria
Keywords:
blue economy, potentials, challenges, marine, development, prospect, NigeriaAbstract
This paper examined the maritime industry and marine ecosystem in Nigeria with a view to determine the relationship between revenue generated through maritime related activities by the Nigeria Ports Authority and Gross Domestics Product (GDP)-index for economic development. It analyzed the challenges of blue economy in spite of its economic potential. Secondary data from ports revenue and GDP were correlated and random selection of communities where blue economy is to be practiced selected across the littoral States. The communities were selected through stratified sampling techniques around the major Nigerian seaports in Apapa, Tin Can, Bonny Island in Port Harcourt, Old terminal in Calabar, Okerenko in Warrri, FOT at Onne, Ilaje in Ondo State and Yenegoa in Bayelsa State. 186 respondents were able to provide information on challenges that blue economy concept may face in Nigeria. Results revealed that, there is no correlation between revenue and GDP though with progressive revenue over the years which made us to accept the null hypothesis. The challenges of blue economy ranging from habitat degradation (30%), over exploration (14%), bunkering (13%), over fishing (9%) among others were identified. The research recommended the exploration of blue economy concept without degrading the marine ecosystem with policy initiatives.
References
. O.O Adepoju. Concept of Blue Economy: A Critical Discourse for Sustainable Economic Development in Nigeria being a lecture delivered at a workshop organized by Chartered Institute of Marine, Port and Terminal Management, USA on the 4th March, 2023
. Vasigh B, Fleming K and Tacker T (2013) Introduction to Air Transport Economics From Theory to Applications Second Edition
. S.O Oyedepo S.O. Energy and sustainable development in Nigeria: The way forward Energy sustainability Springer 2012
. Oil and Gas in Africa- ADB-2-Main-drv African Development Bank2 (Typeset by SPi, Chennai) iv of 233 July 29, 2009 15:25
. A.O Ikuomenisan. Effect of fraud on economic development of Nigeria unpublished thesis submitted to Department of Management and Accounting, Faculty of Management Sciences, Ladoke Akintola University of Technology, Ogbomoso, Nigeria 2017
. A.O Somuywa O.O Adepoju and V.A Dosunmu. Maritime Logistics And The Role of ICT In The Optimization Of Cargothroughput in Nigeria 21st international scientific conference Business Logistics in Modern Management October 7-8, 2021 - Osijek, Croatia
. O. D. Elisha. The Nigeria blue economy: Prospects for economic growth and challenges. International Journal of Scientific Research in Education, 12(5), 680-699. Retrieved from http://www.ijsre.com 2019
. N.M Ekpete. Distribution of Petroleum Products in Nigeria being an unpublished Project Report Submitted in Partial fulfillment of the Requirements for the Degree of Master of Business Administration (MBA) in Management, University of Nigeria, Nsukka 1992.
. Y. R. Choi. The blue economy as governmentality and the making of new spatial rationalities. Dialogues in Human Geography, 2017.7(1), 37-41.
. G. Iornumbe, Political Instability and National Development in Nigeria. NAPSS Journal of Politics and International Relations, 2005. 4(1), 27-37.
. UNDP (United Nations Development Programme). Human Development Report 1990. New York: Oxford University Press for the UNDP.
. Meier, K. J. (1988). The Political Economy of Regulation: The case of Insurance. New York: Suny Press.
. E. Oghator, & R. Okoobo, Towards Sustainable Development in less Developed Countries: Foreign Assistance Revisited. The Nigerian Journal of Administrative Science, (2000). 5 (10): 201-208.
. Okereke, O. O. and Ekpe, A. E. (2002). Development and Underdevelopment: Politics of North South Divide. Enugu: John Jacob’s Classic Publisher Ltd.
. T Lawa and O Abe. National development in Nigeria: Issues, challenges and prospects Journal of Public Administration and Policy Research 2011). Vol. 3(9), pp. 237-241, November 2011 Available online http://www.academicjournals.org/jpapr
. P, Schepelmann . Y Goossens and A Makipaa. Towards Sustainable Development: Alternatives to GDP for Measuring Progress (2010),, Wuppertal Institute (www.wupperinst.org);atwww.wupperinst.org/en/publications/entnd?beitrag_id=1313
. O Sulaiman. Worldd Bank Projects 13million more Nigerians will fall below poverty line by 2025 Tribune, 2023 by Olarewaju Sulaimon accessed April 24, 2023.
. Hamisu A. A study of Nigeria’s blue economy Potential with particular reference to the oil and gas sector. An unpublished dissertation submitted to the World Maritime University in partial fulfilment of the requirement for the award of the degree of MSc in Maritime Affairs 2019
. B. Abdullahel. Our Oceans and the blue economy: opportunities and challenges, 10th international conference on marine technology (2017). Available at https://www.sciencedirect.com/science/article/pii/S1877705817332447
. , J. J., Silver N. J., Gray, , L. M., Campbell L. W Fairbanks,., & R. L. Gruby, Blue economy and competing discourses in international oceans governance. The Journal of Environment & Development, 2015 24(2), 135-160
. T. Potgieter, Oceans economy, blue economy, and security: Notes on the South African potential and developments. Journal of the Indian Ocean Region, (2018).14(1), 49-70.
. E. J. Techera. Supporting blue economy agenda: Fisheries, food security and climate change in the indian ocean. Journal of the Indian Ocean Region, (2018). 14(1), 7-27
. K Manohar and A.A Adeyanju. Hydro power energy resources in Nigeria Journal of Engineering and Applied Sciences (2009)
. United Nations Conference on Sustainable Development, 2012. Blue Economy Concept Paper, s.l.: United Nations Conference on Sustainable Development. http://unctad.org/en/ PublicationsLibrary/ditcted2014d5_en.pdf (Accessed 14th April 2016).
. E.Wairimu, and D. Khainga Kenya’s Agenda in Developing the Blue Economy, Available at http://kippra.or.ke/kenyas-agenda-in-developing-the-blue-economy/(2017).
. Pauli, G. (2010). The Blue Economy: 10 years-100 innovations-100 million jobs. United State:Paradigm Publications
. Costa JAV, de Freitas BCB, Lisboa CR, Santos TD, de Fraga Brusch LR, de Morais MG (2019) Microalgal biorefinery from CO2 and the effects under the blue economy. Renew Sustain Energy Rev 99:58–65
. A, Phelan, L, Ruhanen J. Mair Ecosystem services approach for community-based ecotourism: towards an equitable and sustainable blue economy. J Sustain Tour (2020) 28:1–21
. W Kaczynski .The future of the blue economy: lessons for the European Union. Found Manag (2011) 3(1):21–32
. C. Ezeobi . Championing Quest to boost the Blue Economywww.thisdaylive.com accessed October 21, 2021.
. Blue economy development framework - Growing the Blue Economy to combat poverty and accelerate prosperity, Available htttp//pubdocs.worldbank.org/e en/446441473349079068/AMCOECC-Blue-Economy-Development Framework(World Bank. 2016).
. Martinez?Vazquez, J.Milan?Garcia and J.P. Valenciano. Challenges of the Blue Economy: evidence and research trends(2021)
. M, Juneja, C, De Souza A.L Giriyan and S. Ganeshan. Contextualizing Blue Economy in Asia-Pacific Region — Exploring Pathways for a Regional Cooperation Framework(2021)
. M, Quirapas-Franco M. Low and A. Ng. The Role of the Blue Economy in Singapore’s Sustainable Energy Transition 2021
. S Smith-Godfrey (2016): Defining the Blue Economy, Maritime Affairs: S Journal of the National Maritime Foundation of India, DOI: 10.1080/09733159.2016.1175131
. M.Pires, J.R. Martínez Vázquez, R.M. Milán J.; García, de Pablo Valenciano, J. Renewable Energies and Blue Economy: New Trends in Global Research. Energies 2023, 16, 4210. https://doi.org/ 10.3390/en16104210
. M.Youssef (2023) Blue Economy Literature Review. International Journal of Business and Management; Vol. 18, No. 3; 2023 ISSN 1833-3850 E-ISSN 1833-8119
. M, Frohlich F.Pedro, Ian Dutton, H. Marcus, Brian W. Head, M.Dianne, D. Rissik, J. Vince (2023) A network approach to analyse Australia’s blue economy policy and legislative arrangements Marine Policy 151 (2023) 105588
. L.A Peace, O,Saritas, A Deidun (2023) Exploring future research and innovation directions for a sustainable blue economy Marine Policy 148 (2023) 105433
. Li L, Zhang Y.Y and Jin M (2023).Critically Evaluation the potential Growth of the Nigerian Economy. International Journal of Science and Research (IJSR) (12)1
. P. Karani, P Failler, A.M Gilau, M.Ndende, S.T Africa Blue Economy Strategies Integrated in Planning to Achieve Sustainable Development at National and Regional Economic Communities (RECs) J.Sustain Res. 2022;4(3):e220011. https://doi.org/10.20900/jsr20220011
. The revenue generation profile of the Nigerian Port Authority has risen from N317 billion in 2020 to 361 billion in 2022 Daily trust, accessed 28 March, 2023
. Statista Nigeria’s Gross Domestic Product (GDP) in current prises from 1998-2028(2023)
. NPA A New Dawn as NPA exceeds Revenue Targets, remits over N89.9 Billion into Federation accounts in six months (2023)
. Ships and Ports. How Nigerian Customs Service generated N13 trillion in 12 years (2022)
. World Bank Group Oceans 2030 Financing the Blue Economy for Sustainable Development BLUE ECONOMY DEVELOPMENT FRAMEWORK Growing the Blue Economy to Combat Poverty and Accelerate Prosperity 2016
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 International Journal of Formal Sciences: Current and Future Research Trends
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Authors who submit papers with this journal agree to the following terms.
