The Maritime Business in Nigeria is that which is undeniably important to the economic growth of the nation. Its role can affect the economy positively or can also be a set back to the economy. The history, growth and progress of nations are closely interwoven with the degree of development of the maritime transport industry that can exist or already in existence. The Nigerian economy is classified as a mixed economy and the Maritime Business in Nigeria is a major sector of the Nigerian economy putting into consideration that the country’s status is a major oil-producing and exporting country. Maritime trade has played a key role in Nigeria’s economic development. It accounts for about 95% of the vehicular means of Nigeria’s International Trade. The economic level, an adequate and efficient maritime transport system plays a vital role in the development of a country’s market especially the market of international trade by transforming local markets into national, regional and international focus. This allows economies of great scale in areas that have a promising comparative advantage with concomitant generation of huge employment opportunities. The maritime sector is capital intensive and thus requires a huge amount of funding.
The maritime business in Nigeria is mostly bothered around imported products from foreign countries. Such products as the following: oil & gas, energy industry, renewable energy, tidal energy, energy resources, electric power, sustainable energy, alternative energy, fuel cell energy, energy management, hydropower plant, offshore wind, pulse energy, hydrogen energy, etc. Studying maritime business will prepare you for a career in the global maritime and shipping industries, such as ship management, ship finance or brokering, maritime law or logistics and supply chain management. Below are several things to consider when opening a packing and shipping store startup.
- Market Research.
- Perform market research in your area and prepare a market research report.
- Choose Your Strategy.
- Write a Business Plan.
- Licenses and Permits.
- Find a Location.
- Purchase Your Equipment.
- Shipping Logistics.
- Market Yourself.
Industry Issues in Maritime Business in Nigeria
- Corona Virus COVID-19.
- Transportation Infrastructure.
- Cargo Liability.