Coastline Scares

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

By  |  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.

Most Read

From Bootstraps To Breakthroughs: Unravelling South Africa’s Startup Secrets

The startup ecosystem in South Africa is a buoyant and dynamic industry propelled

Moniepoint Is Stepping Up Its Global Ambitions As UK Plans Take Shape

Moniepoint Inc., the parent company of one of the largest business payments and

Tracing The Rapid Rise Of E-Mobility in Kenya

The global automotive industry has shifted significantly towards electric vehicles (EVs) in recent