Deciphering the Dynamics of Ship Turnaround Time and Gross Registered Tonnage at Selected Nigeria Seaports

Abstract

This research examined the impact of operational performance on revenue generation at Port-Harcourt and Apapa seaports in Nigeria. Utilizing time series data from 1982 to 2022, the study employed econometric methods, specifically Unit root tests, ordinary least square regression and co-integration to analyze the relationship between ship turnaround time (STT), gross registered tonnage (GRT), and port revenue. The analysis revealed that at Port-Harcourt, STT had a statistically significant negative effect on revenue (p < 0.05), with a 1% increase in STT leading to a 25750.57% decrease in revenue. Conversely, STT's impact on Apapa's revenue was statistically insignificant (p > 0.05). GRT had a statistically significant positive effect on revenue at Apapa (p < 0.05), with a 1% increase in GRT associated with a 543.1925% increase in revenue, but its effect was insignificant at Port-Harcourt (p > 0.05). The study concludes that targeted interventions are needed to improve operational efficiency and revenue performance. A key recommendation is for Port-Harcourt to prioritize the reduction of STT through infrastructure improvements and streamlined procedures.