ECONOMETRIC ANALYSIS OF SEAPORT DEVELOPMENT AND ITS IMPACT ON THE ECONOMIC GROWTH OF NIGERIA

This research dwells on econometric analysis of seaport development and its impacts on the economic growth of Nigeria. Variables such as Trade, Gross domestic product, Logistics performance and Liner Shipping Connectivity were implored for the analysis. Secondary data were collected from the World Bank database and Nigerian Ports Authority (NPA) abstract of ports statistics. The multi factorial ANOVA and Correlation analysis function of the SPSS software were implored for the data analysis. From the correlation output, it was deduced that Liner shipping connectivity(X4) has a moderate positive and linear correlation of 0.442 with economic growth. This implies that as liner shipping connectivity increases, economic growth increases. The results of the econometric test show that, there was no positive autocorrelation in the regression analysis carried out. It was however, recommended that, Nigeria government needs to churn out viable economic policies that can boost trade in the presence of the current decline in oil prices. Also, the federal government must develop her financial intermediaries in order to provide funds for private sector investment in port infrastructure development. In conclusion, the quality of port infrastructure and maritime transport are germane to facilitating international trade and foreign investments, as foreign investors are interested in countries with good logistics linkages.