ANALYSIS OF THE ROLES OF THE RELEVANT REGULATORY AGENCIES IN THE NIGERIAN MARITIME INDUSTRY

Abstract

The Maritime sector is of critical significance to any economy.1 It is the main means for transporting goods internationally and many cities rely on their Ports as a major source of revenue. The Maritime sector which is a sub-sector of the transport sector globally accounts for over 70% transportation requirement of the world. The Maritime sector is a major catalyst for socio-economic development and international competitiveness in a changing world. Nigeria as a nation is endowed with a vast coastline as well as navigable inland Waterways and is strategically placed on the Atlantic Coast of West Africa. However, 76 percent of the shipping business that takes place in West Africa is done in Nigeria. A wellorganized Maritime sector is therefore important to facilitate Nigeria’s international trade.2 For this article we will discuss the following agencies namely, Nigerian Shippers’ Council, Nigerian Administration and Safety Agency, Nigerian Ports Authority, and Nigerian Customs Service