Abstract
Nigeria’s Maritime sector is a neglected gold mine. It is capable of becoming a key engine of economic growth and sustainable development, if enhancive strategies are implemented for optimum efficiency. Nigeria’s maritime sector performance for 2019, like the global maritime business in the evidently points to the negative. However, factors that led the local maritime downward are different from factors that negatively affected global maritime sector. This paper will assess the technologies advancement; automation and digitalisation of Nigeria maritime sector to ensure it attain global best practices recommended by International Maritime Organisation (IMO) and United Nations Conference on Trade and Development (UNCTAD). Currently, technological advancement is bringing its transformative advantages to the maritime ports and shipping space. In the industry known for complex issues, large scale, and a need for firm reliability, digital technologies that create new opportunities for better optimization, automation, and profitability. The study will also analyse maritime performance indicators which includes performance measurement, direct shipping connectivity, port improved management and environmental factor. Performance indicators are systematic tools that determine nature and critical issues that confront shipping industry and ports, help evaluate the possible impact of another policy decision. The challenges, prospects and sustainability of maritime sector in Nigeria over the years will be properly reviewed. The maritime future poses numerous challenges, but also erupt numerous opportunities. Global trade is expanding, Ports and shipping as its workhorse are undergoing transformation and facing massive challenges in maintaining competitiveness. Theories, analyses supporting statistical data, and related information from other relevant institutions and agencies, served as the framework of the study. The result of the study is expected to contribute in economic growth and sustainable development of the maritime sector.
 
 JEL: R40; R42; L20
 
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Highlights
Global maritime trade reduced its pace in 2018, with volumes increasing at 2.7 percent in 2018 down from 4.1 percent in 2017
The main objective of this study is to evaluate maritime sector as key driver of Nigeria’s economic growth and sustainable development
This research unveiled that Nigeria Maritime Administration and Safety Agency (NIMASA) is still struggling to get international standard and there are no genuine performance standards or targets with regards to timelines and outputs for processes handled by each target such as timeline for process volume/number of import/export transactions processed within given period and causes inefficiency, loss of revenue, sharp practices and unnecessary delay at the ports
Summary
Global maritime trade reduced its pace in 2018, with volumes increasing at 2.7 percent in 2018 down from 4.1 percent in 2017. United Nations Conference of Trade and Development(UNCTAD,2019) is projecting 2.6 per cent growth in 2019 and an annual average growth rate 3.4 percent for the period 2019 – 2024.But the outlook seems challenging given the increasingly uncertainty regarding trade policy and wide-raging down side risks clouding the horizon. International trade risks that intensified in 2018 which contributed to the slowdown in maritime trade growth include the decision of the United Kingdom of Great Britain and Northern Ireland to leave the European Union (“Brexit”); and the economic transition in China; geopolitical turmoil; and supply-side disruptions, such as those occurring in the oil sector. A transition to the new improved understanding among major stakeholders, credible planning, better and forward-looking-policies that can effectively resolves the trade dispute among the big players, and take account of different nature of developing countries a group and their varied local conditions and needs
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