Coastline Scares

How Nigeria Loses 5 Percent Of Its GDP To Pirates Every Month


September 11, 2020

Hunting for treasured islands and on the lookout for cargo from the richest parts of the world, pirates are the biggest threat for some of the world’s golden ships. Toiling day and night, spending hours on cold seas and possibly surviving from scraps do not do justice to the price the so-called sea lords have to pay for, at least, one big jackpot.

The priciest jewel in the sordid businesses symbolized by eyepatches, octants, hooks and other nautical tools is an oil-carrying ship. Without much ado, the plunder in the farthest parts of African waters travels millions of miles back to dry land, wielding a GDP-crushing weapon deemed as the mighty axe that chops down economic growth.

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