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Importance of Maritime Transportation

We started some times ago about what Maritime  transportation is and we have listed the importance.
Today, we shall be taking the importance one by one and we will explain it.

IMPORTANCE OF MARITIME TRANSPORTATION TO AN ECONOMY.:

  1. Transportation Maritime transportation has helped in the transportation of cargoes and people from one place to another. It has helped Nigeria in the export of Agricultural products, crude oil as export products. It  also helped  in importation of machinery, equipments and raw materials for industries. Due to the large capacity of vessels, it has helped relieve other means of transportation like rail, road and air transport of congestion that could have been caused if they are being used for import and export. 
  2. Revenue Generation for an Economy: It generates revenue for both federal and state governments from various fees and charges from registration of ships,port charges and tariff charged by the Port Authority for the use of vessels and facilities. It also includes corporate taxes paid by shipping companies, clearing and forwarding agent etc. These charges are what contribute to the economy of a nation which then can be used for financing economic infrastructural development.
  3. Provision of Employment Opportunities: Maritime industry has helped reduce problem of un-enployment by providing jobs such as ship builders and repairs, engineer etc. 

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