THE BLUE ECONOMY AND ECONOMIC GROWTH IN NIGERIA

Abstract

The study examined the relationship between the Blue Economy and economic growth in Nigeria. The study was guided by three research questions and three hypotheses. A correlational research design was adopted for the study. The population of the study consisted of top principal officers from six maritime industries in the Niger Delta region, Nigeria. The sample size was determined using the Taro Yamane formula, and a total of 201 respondents were selected from a study population of 404. The instrument for data collection was a self-structured questionnaire, which was validated by experts in the field of economics. The reliability of the instrument was tested using the Cronbach alpha test and the result yielded a .84 coefficient. The questionnaire was personally administered to the respondents with the aid of research assistants. The regression statistical model was used to test the null hypotheses at a 0.05 level of significance using the Statistical Package for Social Science (SPSS) version 25.0. A total of 201 questionnaires were distributed and 186 (93%) were retrieved, valid and used for the analysis. The findings of the study
revealed that the Blue Economy, including marine resources, marine transport, and fisheries, has a strong positive relationship with GDP per capita in Nigeria. In conclusion, the Blue Economy enhance economic growth in Nigeria. Based on the findings, the study recommended that
governments and stakeholders should invest in developing marine resources, improving marine transport infrastructure, and promoting sustainable fishery practices to boost Nigeria's GDP per
capita.