The Environmental Aspect examination of Maritime Transport, Environmental Pollution and Economic Growth in Nigeria

Abstract

The impact of maritime transport in the financial improvement of any nation cannot be over-accentuated. In the meantime, the result of the maritime exercises on the earth has been a worry and the subsequent impact on the economy. Nigeria is a developing country and could too have a portrayal as an import-oriented country; hence, it depends vigorously on sea transport for the importation of products. This study targets analyzing the connection between marine pollution, maritime transport, and financial development in Nigeria. Time arrangement information that spread over from the year 2000 to 2018 was used, and Autoregressive Distributive Lag (ARDL) model was utilized for the investigation. The discoveries from this examination uncover a long-run relationship running from marine pollution to economic growth. It was additionally found from this examination that a critical short-run relationship exists between maritime transportation and environmental pollution. Additionally, huge long-run causal effect of sea transport was found in the financial development of Nigeria. Further investigation from the examination demonstrates a long-run unidirectional connection between environmental pollution and financial development; and exchange and economic growth, while the bi-directional causal relationship won between maritime transport and economic growth. The investigation, in this manner, proposes that Nigeria ought to improve both environmentally and economically as a result of its negative job in ecological quality is more overwhelming than its advantages in monetary development.