POTENTIALS OF STRATEGIC ALIGNMENT BETWEEN THE NIGERIAN MARITIME AND INDUSTRIAL SECTORS IN LIGHT OF THE AFRICAN CONTINENTAL MARKET

Abstract

This paper explores the strategic alignment between Nigeria's maritime and industrial sectors, focusing on seaport efficiency, industrial utilization capacity, production value, and industrial zones. The study utilized secondary data from 2014 to 2021.The study utilized multiple linear regression. The study found a positive correlation between seaport efficiency and industrial utilization capacity, with a 0.08% increase in Apapa Seaport and a 34.4% increase in Tin-Can Island port efficiency. At the zonal levels of Apapa, Ikeja, and Ogun, the results indicate a positive and direct relationship between seaport efficiency and industrial production value. For example, a unit increase in seaport efficiency in Apapa results in a 9.63 unit increase in the industrial production value for the Apapa zone, while Tin-can Island port efficiency remains constant. Furthermore, the Apapa zone's production value is positively correlated with Tin-can Island Seaport, with an increase in seaport efficiency resulting in a 0.65 unit increase in the zone's industrial production value. The study reveals that enhancing Tin-can Island port efficiency leads to a 5.23 unit increase in industrial production value, while Apapa port efficiency has no significant impact on Ikeja zone industrial production value. The industrial output value in the Ogun zone increases by 2.16 units with an increase in port efficiency of Apapa and 1.43 units with an increase in port efficiency of Tin-can Island. The paper proposes a strategic partnership between Tin Can Island Seaport and the food and beverages industry to leverage the advantages of the African Continental Market Free Trade Agreement.