Analysis of the Impacts of Economic Globalization on Maritime Logistics and Port Revenue in Nigeria

Abstract

The evaluated the impacts of economic globalization on maritime trade and  port revenue  in Nigerian. Data on the values of shipping import and export trade covering a period of 15 years from 2005 and 2019 was sourced from the Central Bank of Nigeria Statistical reports. The values of KOF trade globalization de facto, trade globalization de jure, financial globalization de facto and financial globalization de jure for Nigeria was obtained from the database of the International Monetary Fund (IMF). The values of revenue earned by the Nigeria ports each year between 2005 and 2019 was obtained from the Nigerian Ports Authority statistical reports. The log-linear multiple regression analysis method was used to analyze the data. It was found that there is significant impact of economic globalization on the value of shipping export trade, value of shipping import trade and   port revenue in Nigeria between 2005 and 2019. The following empirical models were developed showing the effects of economic globalization on maritime trade and port logistics in Nigeria:  InEXP_trade = 7.484 - 0.428InKOFTRGlDf   + 2.046InKOFTRGlDj + 1.95InKOFFGlDj + 0.552InKOFFGlDf + e; InIMP_trade = 23.396 – 2.388InKOFTRGlDf   + 8.279InKOFTRGlDj + 3.838InKOFFGlDj – 9.423InKOFFGlDf. Recommendations proffered in line with the study findings.