The maritime industry is significant to the growth and development of nations. The relationship between shipping trade and economic growth in Nigeria is acknowledged in the literature. Still, the need to emphasise the role of shipping import and export volume and exchange rate volatility in Nigeria’s economic growth remains. The economic growth and development level that a maritime nation will derive from its ocean depends on its import and export volumes in the face of exchange rate volatility. Using the Vector Error Correction Model, this study analyses the effect of shipping trade on economic growth in Nigeria from 1970 to 2020. The study examines the effect of seaport imports, exports, and real exchange rates on GDP to determine if Nigeria’s economic growth is sustainable, that is if the current pattern of shipping imports and exports for economic growth will not hamper future economic development. The cointegration test established a short- and long-term causality from import, export and exchange rates to GDP. The result showed that Nigeria’s economic growth is import-dependent and that, in the long run, import and exchange rates significantly affect GDP. The study further indicates that the present export volume does not significantly contribute to GDP growth. The results imply that building an economic system on an import-dominated trade system is not sustainable for future development. The study recommended strategic initiatives to maintain the economic growth rate while promoting export through local production.
Passenger traffic at airports is characterised by fluctuations resulting from the influence of several factors. The influence of each factor is different, leading to unpredictable passenger traffic patterns that make planning difficult. Previous studies used geographic, demographic, and economic variables as exploratory factors to examine air travel demand. The study explores several variables to confirm airports and airlines’ characteristics as demand factors for domestic air travel in Nigeria. Data for the study were collected by administering a questionnaire to respondents at major domestic airports in Nigeria. The variables were presented in the 5-point Likert Scale for respondents to rank in order of significance. Exploratory and confirmatory factor analyses (EFA and CFA) were employed to identify the significant factors affecting passenger traffic at domestic airports in Nigeria. EFA reduced fifteen variables to four orthogonal factors influencing passenger traffic at domestic airports. CFA validates airport and airline services, demographics, economic factors, and airport size and facilities as significant factors affecting passenger traffic at domestic airports in Nigeria. The model fit test shows CMIN/DF = 2.263; CFI = 0.940; GFI = 0.929; NFI = 0.901; and RMSEA = 0.078. The result identifies airport and airline characteristics as factors influencing passenger traffic at the domestic airport in any country. It implies that airport and airline characteristics significantly influence domestic air traffic and needs to be included in modelling. Identifying airport and airline characteristics as air travel determinants make this study unique for policy decisions to forecast domestic passenger traffic in a country.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.