The maritime trade has continued to play a major role in the economic development of countries around the world. The blue economy is growing and international trade among countries still depends on maritime development. Globalization has had a major socio-economic impact on the West African Maritime trade. The primary goal of this study was to assess the historical development of maritime trade in West Africa, specifically focusing on Lagos as a West African hub. The city was chosen because it is the largest economic hub in West Africa. The strategic location of Lagos, as a port city, also makes it appropriate as a hub for maritime trade. The study relied on both primary and secondary data to answer research questions. Findings made show that despite the changes in resources and the massive technological changes over decades, the mono-cultural economy still subsists in the region. Nigeria’s domestic socio-economic policy directly affects maritime trade. For instance, Nigeria still relies heavily on the exportation of oil to the west to support its economy (Siebels, 2019). The exportation of oil to the international market is affected by maritime trade policies. The study shows that the international community plays a critical role in the success or otherwise of maritime trade. International policies on the free flow of goods, especially in the Gulf of Guinea, define the growth of maritime trade in the region. Port congestion and air quality have also negatively impacted port operations in the region. The report shows that maritime trade will continue to play a critical role in the region’s socio-economic development. As such, individual governments must act as a unit to address the existing challenges.
Reference List
Siebels, D. (2019) Maritime security in East and West Africa: a tale of two regions. Palgrave Macmillan UK.