(Open Access International e-Journal, 2016-01) Nwokedi, T. C.; Okoroji, L. I; Igboanusi, C. C.
The study is conducted to establish a quantitative relationship (model) between the impacts shipping on the economy of Nigeria and the Gross Domestic Product (GDP) using an econometric method and to test the significance of the impact. The econometric/analytical method of regression analysis was adopted to achieve the objective. Time series data of 10 years were collected on the past contributions of maritime transport to the national output (GDP) from the Central Bank of Nigeria annual statistical bulletin. Hypotheses were tested using t-test. The test showed the rejection of null hypothesis HA and the acceptance of null hypothesis HB to conclude that maritime transport has made significant impact on the Nigerian economy over the period covered by the study.