Economic Impacts of Marine Pollution in Nigeria and the Need for Sustainable Policy Interventions

Abstract

The economic prosperity of countries is greatly jeopardized by marine pollution, and Nigeria is not exempt from this perilous situation. This study examines the financial consequences of marine pollution in Nigeria and promotes the implementation of sustainable policy measures to reduce its negative repercussions. The literature study explores the historical backdrop of marine pollution in Nigeria, examining existing patterns, trends, and case studies that emphasize the economic repercussions, both direct and indirect. The theoretical basis comprises economic ideas that are pertinent to environmental deterioration, offering a conceptual framework for comprehending the economic consequences of marine pollution. Based on previous literature, this paper examines the current condition of marine pollution in Nigeria, with a specific focus on its economic consequences. This section combines case examples and research data to emphasize the pressing need to tackle the problem. The third part provides a thorough analysis of current policy initiatives, assessing both international and national frameworks, highlighting effective strategies in other countries, and detailing the problems and constraints involved. Ultimately, the study underscores the crucial need of sustained policy interventions, providing suggestions for successful execution. This research adds to the discussion on reducing the economic consequences of marine pollution in Nigeria and other places by promoting a comprehensive strategy.