Affiliation(s)
1. Department of Maritime Management Technology, Federal University of Technology, Owerri,P.M.B 1526 Owerri, Nigeria;
2.Department of Transport Management Technology, Federal University of Technology, Owerri,P.M.B 1526 Owerri,Nigeria;
3. Graduate School, University of Strathclyde, 16 Richmond Street Glasgow G1 1XQ, UK;
4. Graduate School, University of Leeds, Woodhouse Lane Leeds LS2 9JT, UK
ABSTRACT
The reassessment of ocean economy contribution of nations has become a
new strategy for frontier states adjacent to the coastal region for the
improvement of their position in the efficiency frontier curve. The continuity
of a coastal state to remain a leader in the production and efficiency frontier
curve of modern day development will thus depend on their ability to
sustainably develop their most strategic economic resource base such as the
ocean economy. The major economic bases include sustainable fishing, offshore
oil field developments, offshore biodiversity development and marine
biotechnology, offshore mining of manganese nodules, offshore wind farm
potentials, international shipping (marine transport) and adjoining corridor
development, ship dry docking potentials, marine renewable energy as well as
other potentials outlined in the definition of African Union strategy for the
development of her blue economy. Adopting the regression analysis and analysis
of variance analytical tools, the study found that about 90% association exist between
the GDP (gross domestic
product) of the West African
state (Nigeria) and her GDP. It equally found that offshore oil and gas energy
sector more significantly impact on the GDP of Nigeria than other ocean economy
business clusters. Given the various contributing marine environment business
cluster used in the work, the model depicting the influence of the ocean
economy of Nigeria is: Y =
2295334779895 - 29473X1 + 3436995749 - 5927686X2 + e.
KEYWORDS
Blue economy, diamond cluster
model, exclusive economic
zone, strategic management, sustainable fishing, offshore oil and gas.
Cite this paper
References
XML 1398 Views