Gulf of Guinea: $7 billion annual piracy loss

Staggering figure, but no citation given.

$7 billion lost to piracy annually on the Gulf of Guinea – Togolese President

Togolese President, Faure Gnassingbe, who visited President Muhammadu Buhari, at the Presidential Villa, Abuja, on Thursday, said that a total of $7 billion is lost to piracy, annually,  on the Gulf of Guinea.

The figure expectedly rose by 13.6% ($950million) in 2013 following increased level of insecurity in some of the countries in the Gulf.

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