Nigeria loses N21.6 trillion to sea robberies in three years

The money that a pirate makes from one attack in African waters could last the individual 20 to 25 years, says Professor Charles Ukeje of the International Relation Department of the Obafemi Awolowo University
Nigeria loses N21.6 trillion to sea robberies in three years

Following the increased activities of the pirates in the nation’s coastal and territorial waters, Nigeria lost a total of N21.6 trillion to the sea robberies in three years.

Disclosing this at a maritime security and safety symposium in Lagos , Professor Charles Ukeje of the International Relation Department of the Obafemi Awolowo University, said that the figure will continue to rise if urgent steps were not taken to check mate these criminals

Ukeje, in his paper titled ‘Economic Implications of Piracy and other Crimes to the Maritime Industry and the Nigerian Economy’ noted that except for 2007 and 2013, the number of pirate attacks on African waters exceeded the global figures in all cases, by more than double. Drawing insights from the Contemporary Maritime Piracy Database (CMPD) between 2001-10, the University don further disclosed that a recent study on ‘The Changing Nature of Contemporary Maritime Piracy’ published in the British Journal of Criminology (2014) identified the location of piracy, time of attack, target vessel characteristics, motivation for piracy, and capacity to strike over long distances, as some of the emerging trends in pirate attack.

He explained that the crime has become so lucrative such that what a pirate makes from one single attack could last him for 20 to 25 years if he lives minimally.

See more at: http://www.vanguardngr.com/2014/10/nigeria-loses-n21-6-trn-piracy-three-years/#sthash.L0CBaQFk.dpuf

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by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

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