Abstract

The maritime industry occupies a very prominent position in the economy of nations all over the world. shipping activities stands out as the greatest boost to a nation’s economic growth and development. The study examined the contribution of shipping industry to the development of Nigeria economy. Secondary data was collected on shipping trade, Nigerian Gross Domestic Product (GDP), export and import trade volume/value, external debts and reserves from Central Bank of Nigeria Statistical Bulletins between the year 2014-2024. The finding revealed that the total shipping trading between the year 2014-2024 was N29863.64 billion. The shipping activities which is based on the export and import trade indicated that the negative in trading was recorded in 2020, 2021 and 2024. The lowest trading activities was recorded in 2020 with deficit of -2230.91billion while 2013 recorded the highest earning based on shipping activities of 5822.59billion. Considering the contribution to the GDP of the country, shipping activities contributed 3.2% between the 2014-2020. Nigerian government efforts toward combating smuggling (both in and out the country) should be intensified, to encourage meaningful impact of sales made on export items and duty collected on import items on the economy especially her external reserve.