CHALLENGES AND OPPORTUNITIES OF MARITIME BUSINESS AND ENTREPRENEURSHIP FOR SUSTAINABLE DEVELOPMENT

Abstract

This study examined the trends, challenges, and opportunities of maritime business and entrepreneurship for sustainable development. Using a survey research design, data were collected from 91 educators in Business Education and Entrepreneurship Programmes across 4 selected tertiary institutions in Delta and Rivers State of Nigeria. Purposive sampling technique was used to sample the 91 participants in this study self-constructed questionnaire was the instrument for data collection, which was validated by three experts and it yielded a reliability coefficient score of 0.78. Statistics such as mean, standard deviation and ANOVA were used to analyze the study’s data. Results of the study revealed key trends in the maritime sector such as the adoption of digital technologies, increasing demand for environmentally sustainable shipping practices, and the growth of diversified maritime-related services. Results further revealed that the sector faces challenges such as regulatory bottlenecks, insufficient funding for entrepreneurial ventures, and limited integration of sustainability-focused curricula in education. Despite these challenges, significant opportunities were identified, such as expanding blue shipping enterprises, fostering public-private partnerships, and enhancing entrepreneurship education tailored to maritime innovation. The study concludes that while the maritime industry in Nigeria is poised for growth, leveraging its full potential for sustainable development requires overcoming regulatory and infrastructural constraints and improving entrepreneurial capacity. The study recommends regulatory policy reforms to foster investment in sustainable maritime ventures in Nigeria. Also, government at all levels should establish financial incentives and grants to support blue maritime businesses and entrepreneurship training.