Dogara: Nigeria loses N7trn to insecurity on waterways

Nigeria is losing about N7 trillion annually due to insecurity and revenue leakages in the country’s waterways, Speaker of the House of Representatives,Yakubu Dogara has said.

Dogara said security in Nigeria’s territorial waters must be strengthened, with the Nigerian Navy and other relevant agencies collaborating to stem the tide of piracy and other attacks.

Speaking when he declared open, a public hearing on a bill to amend the Maritime Operations Coordinating Board Act, 2004, Dogara said the situation called for action among stakeholders.

“Between January and March 2016, several attacks were reported off Nigeria’s coast. This was said to involve pirates stealing cargoes of crude oil and petroleum products. Reports had it that, no fewer than 44 ship crew members were abducted,” Dogara said.

In his remarks, chairman of the House Committee on Navy, Abdussamad Dasuki (APC, Sokoto) said the amendment would provide stiffer penalty of between 3 and 21-year jail term for anyone, who unlawfully transports, traffics or aids unlawful movement of persons, weapons, petroleum and any of its derivatives or goods off any kind in a vessel.

The Chief of Naval Staff (CNS), Vice Admiral Ibok-Ete Ekwe Ibas, said Nigeria loses $4.4 billion to oil theft and $6.70bn to general insecurity in its waters, saying the Nigerian Navy needed about $130 million to save the nation from losing such huge amount annually.