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Posted By: |August 06, 2020 |

Limitation Of Liability For General Maritime Claims: A Nigerian Case Study

 

INTRODUCTION

The shipping industry can unarguably be classified as the most important industry in any economy, and this is because the sea occupies over 70% of the earth, it permeates the 5 (five) continents of the world and it connects all the countries of the world together. Also, more than 90% of goods which are traded between various countries are usually transported by sea1.

Given that our dear country, Nigeria, is largely dependent on revenue generated from the export of crude oil to various countries of the world2; it goes without saying that the shipping industry plays a significant role in the economy of Nigeria since a major chunk of Nigeria’s revenue is generated from the exportation of crude oil through the sea. Furthermore, the fact that Nigerians are majorly dependent on consuming goods imported3 from abroad further underscores the importance of the shippingindustryto Nigeria’seconomy4.

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