ACCORDING to a senior official from the Federal Ministry of Finance (FMoF), between September 2021 and January this year, the Federal Government saved over $10 billion on illegal maritime activities.
The source, who chose anonymity stated over the weekend that the Federal Government was able to save the country a significant amount of money thanks to the Nigerian Maritime Administration and Safety Agency’s proper coordination of activities among Federal Government agencies in the manning of the maritime domain (NIMASA).
According to the senior official, the agency’s Director-General, Dr. Bashir Jamoh, has taken steps on the Deep Blue Project that have resulted in a reduction in crude oil theft, violent crimes, poaching, and other illegalities in the maritime domain.
The source, also revealed that “from available statistics at our disposal, the country loses about $25.5billion annually to illegal maritime activities in her waters while Nigeria National Petroleum Corporation (NNPC) loses about $1.35billion on illegal bunkering. The cost of piracy in the Gulf of Guinea due to stolen goods, insecurity, and insurance has been estimated to be $2 billion with a significant decline in Sea Route Attractiveness.
“The Director-General of NIMASA, Dr Bashir Jamoh, has, therefore, shown us that providing the maritime security will improve national prosperity.
“With the savings of over $10billion by the Federal Government in the last six years, it has shown that some of the policies and objectives of the current managementof NIMASA are imperative for national development and asset acquisition and national protection.”
“The policies initiated by NIMASA in the last one year have demonstrated its concern for maintenance of Sea Lanes of Commerce within the nation’s maritime domain for economy to thrive without any hindrance or malfeasance at sea.
“Maritime safety and security which is the core mandate of NIMASA is concerned with the prevention of national and intentional damage through sabotage, subversion, or terrorism and the prompt mitigation of incidences within the maritime domain.
“Maritime security, therefore, involves the continuous surveillance and reconnaissance of a nation’s maritime domain with a view to prompt interdiction when infringements occur to the nation’s regulations by fellow Nigerians and foreigners,” the official said.
He broke down the amount saved by the country as follows: “The country saved over $3 billion between September and October last year.” In addition, between November and the middle of December 2021, about $4 billion was saved. And the country was able to save about $3 billion between that time and the end of January this year.
