Blue Economy Sustainability: An Imperative for Nigeria’s Economic Development

Abstract

This study evaluates Blue Economy Sustainability: An Imperative for Nigeria’s Economic Development. 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 the environmental shipping index enhances sustainable economic development with an R² of 79.8%, will lead to a significant decrease on the sustainable environmental practice,  (ii) As  connectivity in trade increases, the liner shipping connecting index on also increases with a coefficient of determination (R²) of 76.8%. Based on these findings, from the test of hypothesis, there is a statistical, significant relationship between environmental shipping index and  liner shipping index, the study concludes that, the effect of enhanced blue economy practice, is substantial and significant.to sustainable economic development.

Keywords: Blue Economy, sustainable, shipping, coastal

DOI: 10.7176/JESD/15-7-01

Publication date: July 30th 2024