ABSTRACT
It is self-evident that man’s primary motivation for engaging in any type of business is to make money. Though profit grows with time, better planning, analysis, and implementation strategies can provide efficiency, stability, and much-needed profit in unexpected ways.
The maritime sector of the Nigerian economy has a lot of resources that are put to good use in the course of its daily activities. This industry utilizes a variety of resources, including human, financial, and technological know-how.
As a result, the goal of this research project is to optimize the cost of port operations in Nigeria using a linear programming model to critically analyze it.
The quantitative estimates employed here were for activities related to the operations of Nigerian ports, as well as the expenses and benefits gained by port users.
As previously stated, the cost components connected with the vessel-port interactions were used to create a Linear Programming Model. An optimal solution was found with the help of M for Windows Software.
The results then showed the lowest cost of port operations as well as the best time frames for the decision variables of port operations under consideration.
This serves as a foundation for future forecasts in order to define the range of restrictions and decision variables within which Nigerian port operations can operate at a low cost.
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