The GoG, with its rich endowment unfortunately has the unintended consequences of attracting various threats such as piracy, smuggling and kidnapping for ransom that continue to affect the economic lifeline of countries in the regionThe region has a dominant portion of global hydrocarbon deposits and is geographically positioned with comparative advantage owing to the absence of narrow maritime shipping lanes, straits or chokepoints linking major global shipping destinations.
In December 2021, the President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, President Muhammadu Buhari , commissioned an array of vessels and helicopters to add to the country’s already existing formidable naval assets. Vice-President had pointed out that Nigeria loses around $26bn a year to criminal activities, particularly piracy and sea robbery and this fact underscores the need to enhance maritime security in Nigeria’s waters.
Available records indicate that in Year 2021, “44 vessels involved in illegal bunkering were arrested leading to the recovery of 1,664,628.61 barrels of crude oil and 45,752.91 Metric Tons of Automotive Gas Oil valued at N55.1 billion and N11.8billion respectively. Similarly, there was a decline in pirate attacks and sea robbery in Nigeria’s water where the country reported only 11 pirate incidents and 3 sea robberies in 2021, compared to 22 pirate incidents and 16 sea robberies in 2020.
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