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The Nigerian National Shipping Line (NNSL) was established by the Nigerian government in 1959. Despite heavy investment and subsidies, the state-owned company was unable to compete with European lines. Much of the investment went to enriching the political elite. [1] Deeply indebted, the NNSL was liquidated in 1995 and all 21 of its vessels ...
In 2003, Nigeria provided just $25 million for shipping development, a very small amount given the size of the country. [15] Writing in 2004, Ayodeji Olukoju said "In effect, both the indigenous entrepreneurs and the National Maritime Authority merely play the role of rent collectors. The latter's earnings (in hard currency) rather than serve ...
Foreign reserves. $38.77 billion (31 December 2017 est.) [ 19] All values, unless otherwise stated, are in US dollars. Change in per capita GDP of Nigeria, 1950–2018. Figures are inflation-adjusted to 2011 International Geary-Khamis dollars. The economy of Nigeria is a middle-income, mixed economy and emerging market [ 27][ 28] with expanding ...
Arrivals to Nigeria’s 30-some airports totalled 8.8m in 2019, while 8.7m departures were logged. This represented a 7.4% increase from the 16.4m total passenger movements recorded in 2018. Meanwhile, cargo traffic grew in 2019 – from 164.9m kg in 2018 kg to 174.9m kg – while mail by air rose from 47.3m kg to 55.6m kg.
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Since independence, with Jaja Wachuku as the first Minister for Foreign Affairs and Commonwealth Relations, later called External Affairs, Nigerian foreign policy has been characterised by a focus on Africa as a regional power and by attachment to several fundamental principles: African unity and independence; capability to exercise hegemonic influence in the region: peaceful settlement of ...