Lawlessness Hurting Nigerian Trade
Oil theft and piracy concern UK Chamber of Shipping.
Maritime Lawlessness Off Nigeria’s Coast Hurting Trade – Report
A report published by the UK chamber of shipping has lamented the absence of maritime protection in the Gulf of Guinea off the coast of Nigeria. This lawlessness, says the report which was released this week, puts almost all of the £6.3 billion ($10.79 billion) worth UK trade at risk. It also hampers the opportunity and the development agenda in the countries of the Gulf of Guinea (GoG) among which are Nigeria Ghan, Togo, Benin Republic, among others.
The Gulf of Guinea, through which 12 percent of UK’s oil passes from Nigeria, was described as being and has being a maritime crime hotspot for the past 30 years.
According to the report, The Gulf of Guinea’s maritime crime “is manifest in several interconnected models, each of which brings a direct cost and increased risk to maritime activity in the region”.
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