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Assessment of the Contribution of Blue Economy on Sustainable Economic Development in Nigeria
Subject area: Management and Commerce · Area of research: Maritime
Abstract
This study evaluates assessment of the contribution of blue economy on sustainable economic development in Nigeria. To achieve the objectives of the study, secondary data were sourced from CBN Statistical Bulletin, FAO, Clarkson Statistics and NPA Annual Report). The data collected were subjected to multiple regression analysis using statistical package for social science (SPSS V.23). The results shows (i) an increase in maritime shipping activities (cargo throughput) with 83.5%,coefficient of determination which is substantially high to affect the growth of maritime business in determing the contribution of blue economy on sustainable economic development (ii) an increase in the number of fishing and aquaculture production indicates a high contribution towards economic development of Nigeria, with a coefficient of determination (R2) of 89.6% indicating a significant decrease in the number of vessels calling at our ports .The ?blue economy? concept seeks to promote economic growth, social inclusion, and preservation or improvement of livelihoods while at the same time ensuring environmental sustainability. At its core it refers to the decoupling of socioeconomic development through oceans-related sectors and activities from environmental and ecosystems degradation.
Keywords
Blue Economy, Shipping, Sustainable, Economy
How to cite this paper
@article{1710930,
author = {Pondi Julius G, Ibe C.Calistus, Ejem A. Ejem, Onyema Henry},
title = {Assessment of the Contribution of Blue Economy on Sustainable Economic Development in Nigeria},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {9},
number = {3},
pages = {1959-1967},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1710930.pdf},
abstract = {This study evaluates assessment of the contribution of blue economy on sustainable economic development in Nigeria. To achieve the objectives of the study, secondary data were sourced from CBN Statistical Bulletin, FAO, Clarkson Statistics and NPA Annual Report). The data collected were subjected to multiple regression analysis using statistical package for social science (SPSS V.23). The results shows (i) an increase in maritime shipping activities (cargo throughput) with 83.5%,coefficient of determination which is substantially high to affect the growth of maritime business in determing the contribution of blue economy on sustainable economic development (ii) an increase in the number of fishing and aquaculture production indicates a high contribution towards economic development of Nigeria, with a coefficient of determination (R2) of 89.6% indicating a significant decrease in the number of vessels calling at our ports .The ?blue economy? concept seeks to promote economic growth, social inclusion, and preservation or improvement of livelihoods while at the same time ensuring environmental sustainability. At its core it refers to the decoupling of socioeconomic development through oceans-related sectors and activities from environmental and ecosystems degradation.},
keywords = {Blue Economy, Shipping, Sustainable, Economy},
month = {September},
}