Private Sector Participation in Maritime Industry
CHAPTER ONE INTRODUCTION
1. Background of the Study Today's highly fierce and dynamic global economy requires nations of the world to thoroughly harness their human and natural resources so as to remain competitive within the scheme of things. The proper identification of available resources (both human and material), exploration, efficient utilization and proper maximization of such resources through competent modes are critical success factors in the quest for relevance in the new millennium. Beside human population which readily provides seemingly cheap labour for effective productivity in a given space and time, other factors of production such as capital and land (water and coaster resources inclusive) represent veritable platforms for achieving national growth and socio-economic development.
Nigeria, with an estimated population of over 140 million (NPC, 2000) and no doubt the most populous country in Africa, occupies a strategic location within the West and Central African sub-region. The country has a coastline of over 850km and four major port zones of Lagos, Port Harcourt, Calabar and Warri (NIMASA, 2008). This vantage position enables her easy access to the neighboring countries hence goods meant for other ports of the sub-region are being transshipped from Nigerian major seaports. Also, a larger part of goods meant for Nigeria's land locked neighbors are being freighted through Nigerian seaports. Even historically, Nigerian coastal and riverine communities were engaged in shipping and fishing using dugout canoes. They were quite versed in the art of shipping to the extent that regattas and other traditional maritime rituals were developed.
The importance of the maritime industry to Nigerian's socio-economic wellbeing cannot be overemphasized as cargo throughput to and from Nigeria accounts for more than 65% of the total volume of cargo generated by the entire West African Sub-Region. The sector remains critical to the realization of the
1. Background of the Study Today's highly fierce and dynamic global economy requires nations of the world to thoroughly harness their human and natural resources so as to remain competitive within the scheme of things. The proper identification of available resources (both human and material), exploration, efficient utilization and proper maximization of such resources through competent modes are critical success factors in the quest for relevance in the new millennium. Beside human population which readily provides seemingly cheap labour for effective productivity in a given space and time, other factors of production such as capital and land (water and coaster resources inclusive) represent veritable platforms for achieving national growth and socio-economic development.
Nigeria, with an estimated population of over 140 million (NPC, 2000) and no doubt the most populous country in Africa, occupies a strategic location within the West and Central African sub-region. The country has a coastline of over 850km and four major port zones of Lagos, Port Harcourt, Calabar and Warri (NIMASA, 2008). This vantage position enables her easy access to the neighboring countries hence goods meant for other ports of the sub-region are being transshipped from Nigerian major seaports. Also, a larger part of goods meant for Nigeria's land locked neighbors are being freighted through Nigerian seaports. Even historically, Nigerian coastal and riverine communities were engaged in shipping and fishing using dugout canoes. They were quite versed in the art of shipping to the extent that regattas and other traditional maritime rituals were developed.
The importance of the maritime industry to Nigerian's socio-economic wellbeing cannot be overemphasized as cargo throughput to and from Nigeria accounts for more than 65% of the total volume of cargo generated by the entire West African Sub-Region. The sector remains critical to the realization of the