ABSTRACT
The impact of ocean shipping commerce on Nigeria’s economic development is examined in this study, which spans the years 1976 to 2015. In all three sets of assumptions, the ocean shipping trade was employed as an independent variable, while the gross domestic product, the value of Nigeria’s foreign reserves, and the payment of external debt were used as proxies for the level of economic progress. Using time series data, a basic regression analysis was performed. According to the study’s conclusions, there is a significant and positive association between ocean exports and gross domestic product, foreign reserves, and debt repayment. Under each of the dependent variables, the export shipping trade is also a significant component in Nigeria’s economic development.
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