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The Price of Neglect: The Economic Impact of Cyberattacks on Maritime Operations

The Price of Neglect: The Economic Impact of Cyberattacks on Maritime Operations
By Abuh Ibrahim Sani
Ports are critical infrastructure to countries economic growth and sustainability. Over 90% of nations around the world depends on importation and exportation of goods. The maritime sector has become an integral part of global trade, connecting markets and facilitating the movement of goods across regions and continents. However, as with other sectors, the growing dependence on digital systems has exposed maritime operations to the growing threat of cyberattack. These attacks have dire economic consequences, as seen in countries like USA, Nigeria, Japan, China, Netherlandwhere maritime industry contribute immensely to their economy.
Understanding Cyberattacks in Maritime Operations
Maritime functions within a complex ecosystem of ports, shipping companies, logistics providers, and regulatory authorities. Over the past two decades, ports have progressively depended on automated information and operational technologies. This digital reliance creates vulnerabilities that, in the case of a hack or incident, might incapacitate economic activities. In July 2024, a software upgrade implemented by cybersecurity firm Crowdstrikeshutdown Windows services globally, resulting in turmoil at airports and interrupting essential infrastructure, including port facilities.Incidents of this nature prompt critical inquiries regarding maritime cybersecurity measures and the potential economic and physical repercussions that may come from a cyber incident. The most common attack include ransomware, phishing, and hacking of critical systems like Automation Identification System(AIS) or terminal operating systems.
The Maritime Sector’s Economic Impact: Insights from Nigeria, USA, Netherlands, and Japan
Maritime is one of Nigeria most critical sector, with its port accounting for over 70% of the region’s trade volume in West Africa. The industry has significantly contributes to Nigeria’s Gross Domestic Product(GDP), facilitating oil exports, which makes up over 90% of the country’s foreign exchange earnings. Surprisingly, the country’s maritime industry is vulnerable to cyber threats due to limited cybersecurity professionals, measures and the usage of legacy systems still in existence. More than 95% of cargo entering the United States is transported via ship and port activities, contributing approximately $5 trillion to the annual economy.The marine industry in Japan is vital to its economy, particularly due to the country’s dependence on maritime transport for over 99% of its international trade and the transportation of products and passengers among its many islands.
The marine sector is fundamental to the Dutch economy, embodying the Netherlands’ extensive nautical legacy and critical role as a European trading center. In 2022, the maritime cluster, which includes shipping, shipbuilding, ports, and maritime services, generated a revenue of €95.2 billion. This activity produced a direct added value of roughly €25.9 billion, with an indirect contribution of €5.2 billion, resulting in a total of €31.1 billion.
Notable Incident of Cyber attacks
The International Maritime Organization (IMO) in 2020, fell victims of cyber attack that has ripple the effect of global maritime operation. In 2023, a major ports in Japan suspend operation due to ransomware attack which believes have emanated from Russia. The Port of Nagoya, responsible for approximately 10% of Japan‘s overall trade volume and managing some automobile exports for corporations such as Toyota, suspended its cargo operations on Tuesday, including the loading and unloading of containers onto trailers, following the incident.These incidents revealed weaknesses and highlighted the economic implications associated with cybersecurity in the maritime sector.
Impact of Cyber-attacks on Nations Economy
Cyberattacks often lead to operational downtime in ports resulting in delays of cargo handling and shipping schedules. In Nigeria, where ports like Apapa and Tin Can Island are already struggle with congestion, cyberattack disruptions could exacerbate inefficiencies, causing financial losses for shipping companies and businesses relying of time delivery of their goods.
Frequently cyber incidents lead to higher insurance premiums for maritime operators, insurers factors in cyber risk when underwriting policies, making costlier for shipping companies to secure comprehensive coverage.In every cyber-attack, its comes with consequences which include reputation damage. Cyber incidents destroy the company image and loss of consumer trust. The affected ports or shipping companies would look less attractive to international shipping lines and customers. This reputational destruction can have long-term economic effects, reducing countries competitiveness on maritime environments.
For example, takes Nigeria as the primary exporter of crude oil whose revenue relies heavily on its maritime sector. Cyber attack that disrupt port operations can lead to massive revenue losses. Delay in oil shipment due to compromised systems directly impact foreign exchange earnings and the broader economy.Recovering from a cyberattack involves substantial financial outlays for systems restoration, data recovery, and implementation of upgraded security measures. For a developing economy like Nigeria, these costs can strain already limited resources.
Why Cybersecurity in Maritime Operations Is Essential
The maritime sector is essential infrastructure; thus, preserving its cybersecurity is vital for safeguarding national interests, including energy exports, trade, and employment. A robust cybersecurity framework and measures enhanced the confidence of international stakeholders and customers in marine operations, hence generating increased commerce and investment. Investing in cybersecurity infrastructure and people development is more economical than the financial repercussions of a successful cyberattack. They mitigate risks, facilitating more efficient operations and financial stability.
Steps Toward Strengthening Cybersecurity Maritime Sector
The government of each country, through its marine administration and safety agency, must adopt effective cybersecurity policies specifically designed for the maritime sector. These rules must conform to international standards, including the International Maritime Organization’s principles on maritime cybersecurity. Training for port operators, shipping industry personnel, and other stakeholders on cybersecurity best practices is essential for capacity building. Competent individuals can recognize and alleviate threats prior to their escalation. Upgrading outdated technology systems, implementing modern cybersecurity solutions, and employing AI systems for threat detection will improve resistance against cyberattacks.
The world is a global village due to technology’s profound interconnectedness of our actions. Collaboration among government, business sector, and international partners is key in mitigating cyberattacks. Exchanging knowledge on cyber threats and implementing a cohesive strategy can enhance defenses across continents and regions.Formulating rapid response teams and contingency plans to ensure operations can swiftly recover following a cyber-attack will reducing economic losses and operational decline.
Conclusion
The economic impact of cyberattacks on maritime operations is a stark reminder of the price of neglecting cybersecurity. As the nation’s aspires to be a viable economy powerhouse of their regions, protecting its maritime sectors and national security from cyber threats must be a top priority. Develop a proactive measure, strong polices and strategic investments in technology will not only safeguard the industry but also bolster nations position in the global maritime landscape. The failure of government to act decisively risks costly disruptions, revenue losses, and reduce competitiveness. A price no economy can afford to pay.
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Noble Ladies Champion Women’s Financial Independence at Grand Inauguration in Abuja

Women from diverse backgrounds across Nigeria and beyond gathered at the Art and Culture Auditorium, Abuja, for the inauguration and convention of the Noble Ladies Association. The event, led by the association’s Founder and “visionary and polished Queen Mother,” Mrs. Margaret Chigozie Mkpuma, was a colourful display of feminine elegance, empowerment, and ambition.
The highly anticipated gathering, attended by over 700 members and counting, reflected the association’s mission to help women realise their potential while shifting mindsets away from dependency and over-glamorization of the ‘white collar job.’ According to the group, progress can be better achieved through innovation and creativity. “When a woman is able to earn and blossom on her own she has no reason to look at herself as a second fiddle,” the association stated.
One of the association’s standout initiatives is its women-only investment platform, which currently offers a minimum entry of ₦100,000 with a return of ₦130,000 over 30 days—an interest rate of 30 percent. Some members invest as much as ₦1 million, enjoying the same return rate. Mrs. Mkpuma explained that the scheme focuses on women because “women bear the greater brunt of poverty” and the platform seeks “to offer equity in the absence of economic equality.”
Education is also central to the Noble Ladies’ mission, regardless of age. Their mantra, “start again from where you stopped,” encourages women to return to school or upgrade their skills at any stage in life. The association believes that financial stability is vital in protecting women from cultural practices that dispossess widows of their late husbands’ assets, while also enabling them to raise morally and socially grounded families.
Founded on the vision of enhancing women’s skills and achieving financial stability, the association rests on a value system that discourages pity and promotes purpose. “You have a purpose and you build on that purpose to achieve great potentials and emancipation,” Mrs. Mkpuma said.
A criminologist by training and entrepreneur by practice, she cautions against idleness while waiting for formal employment. “There are billions in the informal and non-formal sectors waiting to be made,” she said, rejecting the “new normal of begging” and urging people to “be more introspective to find their purpose in life and hold on to it.”
Mrs. Mkpuma’s management style keeps members actively engaged, focusing on vocational skills and training to prepare them for competitive markets. She is exploring “innovative integration of uncommon technologies” and is already in talks with international franchises to invest in Nigeria, with Noble Ladies as first beneficiaries.
The association’s core values include mutual respect, innovation, forward-thinking, equal opportunity, and financial emancipation. With plans underway to establish a secretariat in the heart of Abuja, the group aims to expand its impact.
The event drew high-profile guests, including former Inspector General of Police, Mike Okiro, and a host of VIPs, marking a significant milestone in the association’s drive for women’s empowerment.
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NEPZA, FCT agree to create world-class FTZ environment

The Nigeria Export Processing Zones Authority (NEPZA) has stepped in to resolve the dispute between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over the potential revocation of the zone’s land title.
Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, urged ATV operators and investors to withdraw the lawsuit filed against the FCT administration immediately to facilitate a roundtable negotiation.
Dr. Ogunyemi delivered the charge during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, on Thursday in Abuja.
You will recall that the ATV operators responded to the revocation notice issued by the FCT administration with a lawsuit.
Dr. Ogunyemi stated that the continued support for the growth of the Free Trade Zones Scheme would benefit the nation’s economy and the FCT’s development, emphasizing that the FCT administration recognized the scheme’s potential to accelerate industrialisation.
Dr. Ogunyemi, also the Chief Executive Officer of NEPZA, expressed his delight at the steps taken by the FCT minister to expand the economic frontier of the FCT through the proposed Abuja City Walk (ACW) project.
Dr. Ogunyemi further explained that the Authority was preparing to assess all the 63 licensed Free Trade Zones across the country with the view to vetting their functionality and contributions to the nation’s Foreign Direct Investment and export drives.
“I have come to discuss with His Excellency, the Minister of the Federal Capital Territory on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
On his part, the FCT Minister reiterated his unflinching determination to work towards President Bola Ahmed Tinubu’s Renewed Hope Agenda by bringing FDI to the FCT.
“We must fulfil Mr. President’s promises regarding industrialization, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” Wike said.
Barrister Wike also said that efforts were underway to fast-track the industrialisation process of the territory with the construction of the Abuja City Walk.
The minister further said the Abuja City Walk project was planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road.
According to him, the business ecosystem aimed to create a lively, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.
He added that the ACW would turn out to be a high-definition and world-class project that would give this administration’s Renewed Hope Agenda true meaning in the North-Central Region of the country.
Barrister Wike also indicated his continued pursuit of land and property owners who failed to fulfil their obligations to the FCT in his determination to develop the territory.
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Benue IDPs block highway, demand return to ancestral homes

Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.
The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.
The protest caused disruption, leaving hundreds of motorists and passengers stranded.
Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.
“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.
Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.
Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.
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