ABSTRACT

It is very fundamental that man’s main aim of venturing into businesses of all kinds is to
make profit. Though profit tends to grow with time, a better planning, analysis and
implementation strategy can in a least expected manner bring efficiency, stability and
the much needed profit.
The maritime sector of the Nigerian economy is one that has a lot of resources that are
been utilized in the course of its day to day operations. The resources engaged in this
sector ranges from human, to finance and technological know-how.
This research study is therefore determined to optimize the cost of port operations in
Nigeria with a view to critically analyse it from the perspective of linear programming
model.
The quantitative estimates used here were concerned with the activities associated with
the operations of Nigerian ports, the costs and the benefits derived by users of these
ports etc.
A Linear Programming Model as earlier indicated was formulated from the cost
components associated with the vessel-port relationships. With the aid of M for
Windows Software, an optimal solution was derived.
Then the result showed indicated the minimum cost of port operations as well as the
optimal time frames for the decision variables of port operations under review.
This provides a basis for future projections so as to determine the range of values of the
constraints and decision variables for which the Nigeria port operations could be at
minimal cost.

TABLE OF CONTENTS
TITLE PAGE
DEDICATION
ACKNOWLEDGEMENT
ABSTRACT
TABLE OF CONTENTS

CHAPTER ONE
INTRODUCTION
1.2 OBJECTIVES OF THE STUDY
1.3 STATEMENT OF PURPOSE
1.4 RESEARCH QUESTION
1.5 SIGNIFICANCE OF THE STUDY
1.6 SCOPE OF THE STUDY
1.7 LIMITATIONS OF THE STUDY
1.8 DEFINITION OF TERMS
CHAPTER TWO
LITERATURE REVIEW
2.1 THE CONCEPT OF COST OPTIMIZATION
2.2 NEED FOR COST OPTIMIZATION STRATEGY
2.3 STEPS IN COST OPTIMIZATION
PHASE A: PREPARATION
PHASE B: PRACTICAL EXECUTION:
PHASE C: VERIFICATION OF PROGRESS
2.4 IMPLEMENTATION OF COST OPTIMIZATION STRATEGIES
2.5 COST OPTIMIZATION TECHNIQUES AS APPLIED TO THE
2.6 ELEMENT OF COST TRAINING AS A STRATEGY FOR LABOUR COST OPTIMIZATION
2.5 REDUCTIONS IN LABOUR TURNOVER RATE AS A STRATEGY
FOR LABOUR COST OPTIMIZATION
2.7 OVERHEAD COST OPTIMIZATION TECHNIQUES COST OPTIMIZATION REPORT
2.8 PROBLEM OF COST OPTIMIZATION STRATEGIES
REFERENCES

CHAPTER THREE
RESEARCH METHODOLOGY
3.1 SOURCES OF DATA
3.2 METHOD OF DATA ANALYSIS
3.2.1 THE LINEAR PROGRAMMING MODEL
3.2.2 DEFINITION OF THE VARIABLES FOR OBJECTIVE FUNCTION

CHAPTER FOUR
RESULTS AND DISCUSSION
4.1 DATA PRESENTATION AND DESCRIPTION
Table 4.1 Port operations and expenses generated based on averages of different kinds
of Cargo
Table 4.2 Linear Programming Model for Nigerian Ports operations
Table 4.3 RANGING Table
Variable definition Table - Table 4.4: Solution List
RESULT DISCUSSION

CHAPTER FIVE
SUMMARY OF FINDINGS, RECOMMENDATIONS AND
CONCLUSIONS
5.1 SUMMARY OF FINDINGS
5.2 RECOMMENDATIONS
5.3 CONCLUSION
BIBLIOGRAPHY
APPENDIX