With the vast natural resources in Nigeria’s territorial waters as well as her Exclusive Economic Zone unmanned, the country daily loses several millions to illegal activities at sea, reports Precious Igbonwelundu.
Why Nigeria must equip her navy
It an estimated $38 per barrel, Nigeria loses $15.2m per day (400 thousand barrel) to crude oil theft at sea, amounting to $456m per month. Her natural resources including fishes, shrimps and prawns across her 200 nautical miles distance from Seme boarder to Calabar are daily being exploited illegally by business concerns, repackaged and shipped into the country for sale.
This is against the about N200 million needed by the Nigerian Navy (NN) to keep five of its vessels patrolling the nation’s territorial waters for an entire month, thereby deterring the criminals.
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