MARITIME ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT IN NIGERIA

MARITIME ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT IN NIGERIA

CHAPTER ONE

INTRODUCTION

Background to the Study

Cabotage is a legislative tool restricting access or reserving maritime or aviation trade within a country’s territorial jurisdiction to the local capacities. The Nigerian Maritime and Cabotage was introduced by the Nigerian Government following calls by prominent maritime specialists and operators on the need for government to make concerned effort towards harnessing the indigenous maritime capacity and utilizing the abundant opportunities in the sector for the benefit of the Nigerian people in order to reverse the trend where it still has its maritime trade both territorial and extra territorial dominated by foreign operators. The government’s intention in introducing the cabotage regime is to encourage the development of the maritime industry by an interventionist scheme aimed at boosting the growth of the local capacity in the face of choking external competition and domination. Cabotage is a practice worldwide that is over 60 years old, a contemporary economic approach which justifies intervention of this nature to induce some determined result (as against the classical economic approach of free market forces), as an acceptable tool to achieving some set economic goals, especially where competition is unfair and dominance is prevalent. It has been observed that this practice worldwide both in maritime and aviation has been induced by diverse factors including reserving all, or part of the national market opportunity to national flag ships or aircrafts either for political, economic or security reasons. Other reasons for this protective policy practiced around the world are to develop indigenous human and capital capacity. These are some of the major aims of the Nigerian maritime cabotage.

And as for the scope of the cabotage Act, the Coastal and Inland Shipping (cabotage) Act, 2003 covers the carriage of goods and passengers by vessels and any other mode of transportation, mineral, other natural resources, and any marine transportation or activity of commercial nature within Nigeria’s territorial waters as prescribed by the Exclusive Economic Zone Act CAP 116, laws of the Federation Republic of Nigeria, 1990. The Act seeks to restrict the use of foreign vessels in domestic coastal trade and consequently enhance the development of indigenous tonnage.

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MARITIME ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT IN NIGERIA

IMPACT OF MARINE POLLUTION IN SHIPPING OPERATIONS AND MARINE ENVIRONMENT

IMPACT OF MARINE POLLUTION IN SHIPPING OPERATIONS AND MARINE ENVIRONMENT

TABLE OF CONTENTS

Title Page  –        –        –        –        –        –        –        –        –        i

Approval Page   –        –        –        –        –        –        –        –        ii

Declaration         –        –        –        –        –        –        –        –        iii

Dedication –        –        –        –        –        –        –        –        –        iv

Acknowledgement       –        –        –        –        –        –        –        v

Abstract     –        –        –        –        –        –        –        –        –        vi

Table of Contents        –        –        –        –        –        –        –        vii

 

CHAPTER ONE – INTRODUCTION

1.1    Background of the Study     –        –        –        –        –

1.2    Statement of General Problem     –        –        –        –

1.3    Objective of the Study –        –        –        –        –        –

1.4    Research Questions   –        –        –        –        –        –

1.5    Hypothesis   –      –      –      –      –      –      –        –        –

1.6    Significance of the Study     –        –        –        –        –

1.7    Scope of the Study     –        –        –        –        –        –

1.8    Definition of Terms      –        –        –        –        –        –

 

CHAPTER TWO – REVIEW OF RELATED LITERATURE

2.1    Introduction         –        –        –        –        –        –        –        –        –

2.2    Theoretical Framework         –        –        –        –        –        –        –

2.3. Green House Gas Emissions      –  –        –        –        –        –

2.4. Power Plants     –  –        –        –        –        –        –         –        –

2.5. What is the Term Gas Flaring?    –  –        –        –        –        –

2.6. Origin of Gas Flaring               –        –        –        –        –        –

2.7. Culprits in Niger Delta Oil, Flares and Power Plants     –     –

2.8. Environmental and health impacts of Gas Flaring/Power Plants Emissions                –                  –        –

2.9 Barriers to Gas Flaring Utilization      –       –        –        –        –

2.9. Environmental Management Theories    –         –        –        –        –

 

CHAPTER THREE – RESEARCH METHODOLOGY

3.1    Introduction         –        –        –        –        –        –        –        –        –

3.2    Research Design        –        –        –        –        –        –        –        –

3.3    Research Methodology        –        –        –        –        –        –        –

CHAPTER FOUR – DATA PRESENTATION AND ANALYSIS

4.0    Introduction         –        –        –        –        –        –        –        –        –

4.1    Data Presentation and Analysis   –        –        –        –        –        –

CHAPTER FIVE – SUMMARY, CONCLUSION AND RECOMMENDATION

5.1    Summary   –        –        –        –        –        –        –        –        –

5.2    Conclusion         –        –        –        –        –        –        –        –        –

5.3    Recommendations      –        –        –        –        –        –        –

References –      –        –        –        –        –        –        –        –

CHAPTER ONE

INTRODUCTION

1.1     Background of the study              

Marine pollution occurs when harmful, or potentially harmful, effects result from the entry into the ocean of chemicals, particles, industrial, agricultural and residential waste, noise, or the spread of invasive organisms. Eighty percent of marine pollution comes from land. Air pollution is also a contributing factor by carrying off pesticides or dirt into the ocean. Land and air pollution have proven to be harmful to marine life and its habitats. The pollution often comes from non point sources such as agricultural runoff, wind-blown debris and dust. Nutrient pollution, a form of water pollution, refers to contamination by excessive inputs of nutrients. It is a primary cause of eutrophication of surface waters, in which excess nutrients, usually nitrogen or phosphorus, stimulate algae growth.

Many potentially toxic chemicals adhere to tiny particles which are then taken up by plankton and benthos animals, most of which are either deposit or filter feeders. In this way, the toxins are concentrated upward within ocean food chains.

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IMPACT OF MARINE POLLUTION IN SHIPPING OPERATIONS AND MARINE ENVIRONMENT

A STUDY ON SHIP FINANCING IN NIGERIA

A STUDY ON SHIP FINANCING IN NIGERIA

ABSTRACT

Small and Medium Enterprises (SMEs) have been recognised as critical to economic growth and poverty reduction in developing countries. Shipping businesses represent significant portion of SMEs and have dominated the private sector investments in developed nations. Existing studies have identified funding as a major constraint to SMEs in developing countries. The banking institution statutorily positioned to assist in SMEs funding in these countries are constrained by a host of factors. This paper investigates the factors affecting banks financing and development of SMEs in the maritime shipping sector of Nigeria. Data for this study were obtained from Likert scaled questionnaires which were administered to a randomly selected sample of commercial banks with shipping portfolios. Evidence from data analysis using ordered Logit regression model indicates that; risk perception attitude of banks, information constraints on SMEs, lack of skills in SMEs financing and unfavourable regulatory environment are significant factors affecting banks investments in SMEs in Nigeria’s shipping sector. Policy implications of the findings are discussed.

CHAPTER ONE

INTRODUCTION

1.1     Background to Study

Shipping has existed in over 5000 years and the first sea trade network we know of was between Mesopotamia, Bahrain and Indus River. Shipping is constantly changing and shipping today is far from shipping 5000 years ago. Thanks to the discovery of the global sea routs in the late fifteenth century, the industrial revolution in the late eighteenth century and the dismantling of the colonies in the second half of the twentieth century, shipping went from slow and expensive by land to a tightly knit global business community (Stopford 2008, p. 45).

Access to capital is central in building a business community like the shipping industry. High investments cost, due to highly technological vessels, require ship-owners who know how to get funding.“Because shipping is such an old industry, with a history of continuous change, sometimes gradual and occasionally calamitous, we have a unique opportunity to learn from the past.” (Stopford 2008, p. 4)

Finding out how ship-owning companies finance their investments, by using historical data and learn from past years, is the objective of this study.Hopefully, the study will provide answers to financing in the ship-owning industry.

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A STUDY ON SHIP FINANCING IN NIGERIA