Connect with us

Headlines

Buhari saddened as Nigeria loses $26.3bn annually to piracy, sea robbery, others

Published

on

President Muhammadu Buhari has expressed sadness over Nigeria’s loss of about 26.3 billion dollars annually to various forms of criminality particularly piracy and sea robbery.

Mr Buhari made the expression while performing the inauguration of Falcon Eye Project, Nigerian Navy’s Strategic Maritime Surveillance System, on Tuesday at the Naval Headquarters, Abuja.

Represented by Vice President Yemi Osinbajo, Mr Buhari said that securing Nigeria’s shipping lanes was crucial to the nation’s economic interests.

“Why is this project so important to us as a nation?

“The maritime industry occupies a prominent position in the matrix of our vital economic interests and it encompasses activities ranging from fishing and resource exploration to marine research and shipping among other endeavours.

“Of all these activities, shipping stands out as a critical link in Nigeria’s international trade engagements because it is the cheapest and most efficient means of moving large volumes of goods.

“Given our economic aspirations and our commitment to international trade, ensuring the security of shipping lanes within, and proximate to our waters, is in our national interest.’’

According to him, Nigeria’s hydrocarbon resources which are largely domiciled in our maritime environment remain the mainstay of Nigeria’s economy.

“It accounts for 55 per cent of our GDP, 95 per cent of our export earnings, and about 70 per cent of government revenue.

The president said that in recent years, some threats within Nigeria’s maritime environment had taken more harmful dimensions to the economy and even the safety of citizens and commercial entities which used the maritime domain.

“These include, piracy, armed attacks on ships, kidnapping for ransom, crude oil theft, smuggling, as well as Illegal Unregulated and Unreported Fishing (IUU).

“It is estimated that Nigeria loses about 26.3 billion dollars annually to various forms of criminality particularly piracy and sea robbery.

“On account of the escalated risks in some of our maritime areas insurance premiums for commercial vessels coming to these areas have risen sharply making maritime trade an unattractive proposition.

“This underscores the need to enhance our maritime security architecture; consequently, a critical contribution of the Falcon Eye System will be the provision of actionable intelligence for curbing maritime threats to our economy.’’

Mr Buhari said that his administration had demonstrated a clear commitment to building the capacity of Nigeria’s strategic institutions to secure its coastal waters and the precincts of its maritime neighbourhood.

He said that on June 24, 2019, he assented to the Suppression of Piracy and other Maritime Offences Bill.

“By this Act, Nigeria became the first country in the West and Central African Sub-Regions to promulgate a stand-alone law against piracy, which is an important international requirement, set by the International Maritime Organisation as part of measures to guarantee secure global shipping.

“The Act provides the much-needed legal and institutional framework to improve maritime security and ensure safe and secure shipping in Nigerian waters.

“Last year, we commenced prosecution and secured our first convictions under this law,’’ he said.

Earlier, Chief of Naval Staff, Rear Admiral Awwal Gambo, said that the president’s presence at the event reaffirmed his unflinching support to the Nigerian Navy’s endeavour at ensuring a secure maritime environment for legitimate economic activities.

He said the project arose out of the need for national maritime security architecture that would leverage modern technology to enhance the safeguard of the immense hydrocarbon, living and other mineral resources in the nation’s maritime domain.

In his remarks, National Security Adviser Babagana Monguno said the project was borne out of the necessity to combat the myriad of security problems within the maritime sector.

He said that the contract was signed in 2014 and designed to provide Nigeria with effective surveillance capability of its entire maritime domain.

NAN

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

FRSC warns truck drivers against speeding, reckless driving

Published

on

Mr Joshua Ibitomi, the Area Commander of Federal Road Safety Corps (FRSC),
Ibeju-Lekki, Epe Division, Lagos State, has warned truck drivers against speeding and reckless driving.

He gave the warning in an interview with the News Agency of Nigeria (NAN) in Ibeju-Lekki on Tuesday.

The FRSC official, who blamed speeding on the ghastly vehicle accident that occurred at Aiyetoro market in Epe
which claimed several lives and left some injured, said that with careful driving, such accident could be avoided.

He added that “the accident was as a result of speeding, reckless driving and loading of truck beyond its capacity.

“All these are factors responsible for accident when drivers are not conscious of the driving rules.

“Vehicle can develop technical fault at any time, therefore, speed limit and caution need to be applied while driving.”

He said FRSC had been sensitising drivers on the need to install speed limit device and be road conscious while driving, in line with the mandate to instill decent use of road.

Ibitomi also advised passers-by and the public to be safety conscious while walking on roadsides to avoid falling victim of accidents.

He attributed major road crashes on roads to speed limit violation, urging drivers to respect the sanctity of human life by obeying traffic rules.

He added that the FRSC had evolved measures to ensure accident-free yuletide and new year festivities in 2024

Continue Reading

Headlines

Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters

Published

on

Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters

Jubilant supporters celebrated Donald Trump’s apparent victory in Florida early Wednesday as he claimed a return to the White House, despite most major news networks holding off on officially calling the race.

At an event in Palm Beach, Trump supporters reveled in the win projected by Fox News, cheering as the former president declared a “political victory that our country has never seen before.”

“I feel extraordinary,” said 68-year-old supporter Ted Sarvanis, dancing with arms in the air. “This is the greatest American political story in the history of the country.”

Joined by running mate J.D. Vance, Trump took the stage, celebrating his projected win. The atmosphere at the convention center was electric, with supporters sporting “Make America Great Again” caps and mingling in formal attire and Trump-themed clothing.

“I feel relieved. I was a little bit scared because you never know how things are going to turn out,” said Stacy Kurtz, 45.

In contrast, a far different scene unfolded for Vice President Kamala Harris’s supporters at Howard University in Washington, where they were hoping for a Democratic win.

As the night wore on and Trump gained electoral votes in key battleground states, disappointment swept through the crowd.

“I am scared, I am anxious now,” said Charlyn Anderson earlier in the evening.

Democratic watch parties in places like Atlanta and Pennsylvania grew somber as results rolled in, with Lynn Johnson, 65, expressing concern, “It’s going to be dangerous if he wins. I don’t feel safe.”

While Trump’s supporters celebrated a comeback, the mood among Democrats was marked by worry and disbelief.

“He’s a terrible candidate, so it just doesn’t make sense,” said Harris supporter Ken Brown.

The contrasting scenes highlighted the nation’s deep political divide on election night.

Continue Reading

Headlines

Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties

Published

on

Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties

President Bola Tinubu has extended warm congratulations to President Donald Trump on his re-election as the 47th President of the United States, expressing optimism for stronger ties between Nigeria and the U.S. in an era of global challenges.

The congratulatory message, issued by Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, emphasises the Nigerian leader’s hopes for a renewed partnership between the two nations.

Following his victory on Wednesday, Trump pledged to “heal” the country, marking a stunning political comeback as he edged past Kamala Harris in a closely contested election.

Tinubu, in his message, affirmed, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.”

Tinubu highlighted that Trump’s return to the White House reflects the trust and confidence of the American people in his leadership, praising their commitment to democracy.

Given Trump’s experience from 2017 to 2021 as the 45th President, Tinubu foresees a new era of “earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States.”

The Nigerian President also expressed confidence that Trump’s leadership will contribute to peace and prosperity worldwide, acknowledging America’s significant influence on global affairs.

Continue Reading

You May Like

Copyright © 2024 Acces News Magazine All Right Reserved.

Verified by MonsterInsights