EFFECT OF PORT-RELATED FACTORS AND REVENUE IN NIGERIA.

This study examines the effect of port-related factors on port revenue in Nigeria. Nigeria's ports play a critical role in international trade and economic development in the region. However, these ports face significant challenges that hinder optimal port-related factor and port revenue. Inadequate infrastructure, including limited berths, outdated equipment, and insufficient storage facilities, contributes to congestion and operational inefficiencies. Due to this, Limited port revenue hampers the maintenance and improvement of port infrastructure, hindering the ports' capacity to accommodate growing trade volumes and handle larger vessels efficiently. The effects also extend to the broader economy, as inefficient ports hinder economic growth, limit investment opportunities, and impede regional development. This study was conducted across three distinct port locations in Nigeria: Apapa Port in Lagos, Port Harcourt Port in Rivers State, and Warri Port. The sample population of this study would be selected using Slovin's formula from a total population of 15,500 port workers across the three selected port locations to arrive at the sample population of the study to be 384 port worker respondents. It was found that there is a correlation statistically significant, moderate positive linear relationship between cargo throughput, vessel turnaround time, port revenue, and overall port development. This implies that improvements in operational and financial aspects are associated with positive advancements in the broader developmental goals of Nigerian ports. It was then recommended that there should be a strategic push for technology adoption and infrastructure development. Implementing advanced technologies, such as real-time tracking systems and automation, can significantly improve monitoring and management of cargo movements, reducing operational bottlenecks, and there be strategic investments in port facilities and equipment to enhance overall port performance.