The United Nations says West African Countries lose over $1.9 billion to attacks on sea vessels in the Gulf of Guinea (GoG) on annual basis.
UN, in its latest report, said the surge of maritime piracy in Africa’s Gulf of Guinea was not just a threat to the foreign ship and cargo owners but also carried significant costs that amount to billions of dollars.
UN newest hotspot for piracy saw 106 incidents in 2020 with 623 seafarers affected by kidnapping.
The report which was put together with the Stable Seas Research group, said that most of the direct costs of the kidnappings and ship seizures would be borne by foreigners, with some $5 million paid last year for kidnappings of mostly non-African ship crew members.
It said countries along the Gulf of Guinea coast would pay far more than that to deal with the rise in piracy, from expanded patrols to rescue missions, to greater security costs in ports.
The report estimates that those costs could be more than $1.9 billion annually, diverting important resources from other crucial needs.
“After considering indirect financial damages and opportunity costs, it becomes clear that the Gulf of Guinea nations have the most to gain from reducing piracy and armed robbery in the region.
“The frequency and violence of these attacks have preoccupied Navies that could be addressing other maritime security threats, discouraged foreign investment, weakened state control of coastal and offshore areas, slowed the development of the blue economy, emboldened illicit traders and illegal fishers, and terrorized seafarer communities.
“This has exacted a financial and human cost to the Gulf of Guinea states that, to this point, has been seen as secondary to the costs borne by multinational shipping companies and non-African entities”, the report said.
UN said the report was released nearly two weeks after a Danish Naval patrol killed four pirates in an exchange of fire off the coast of Nigeria in the piracy hotspot.
Norway’s Minister of Foreign Affairs, Anniken Huitfeldt, told officials at the United Nations that the number of attacks had declined this year, possibly due to an increase in international patrol and the Nigerian deep blue project.

By: Chinedu Wosu