Port operation's efficiency and revenue generation in global maritime trade: implications for national growth and development in Nigeria

Abstract

PurposeIt has been argued that a mono product economy experiences epileptic growth because it is prone to global dynamics such as epidemic. Therefore, the need to diversify investments cannot be over-emphasized. Hence, the study examined port operation's efficiency and revenue generation in global maritime trade: implications for national growth and development in Nigeria. The objectives of the study are to identify the factors that improve efficiency in port operations, and to ascertain how efficiency of operations will affect revenue generation and national growth.Design/methodology/approachThe study employed correlation and multiple regressions analyses to test the hypothesis which states that port operation's efficiency does not have positive and significant effect on revenue generation in Nigeria. A cross sectional research design and structured questionnaires were deployed in the study and simple random sampling technique was used to select the sample size of 200 respondents.FindingsResults revealed that efficient port operations affect revenue generation and national development.Research limitations/implicationsPort operations in Nigeria are bedeviled with daunting challenges that hamper smooth and efficient working port's system.Originality/valueThe study suggested that modern port's technologies (ICTs) be deployed to enhance operations in the ports and manpower should be trained on regular intervals to understand modern logistics management techniques in the ports. Third, government should provide port infrastructures being the backbone of efficient port system. Lastly, the private sector should be partnered with in several areas including port's concession to facilitate effective and efficient service delivery in the Nigerian ports.