Foreign shipping firms pay N14bn annually to escort vessels in Nigeria

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Speaking in Lagos last week at the celebration of World Maritime Day, the minister of transportation, Rotimi Amaechi, said due to the volatile nature of Nigeria’s waterways, foreign shipping companies spend over N13.76 billion ($45 million) annually to escort their vessels from one point to another on its waterways, Leadership reports.

About four major international shipping companies operate in the country including Maersk Line, Mediterranean Shipping Company, Grimaldi and CMA/CGM in addition to smaller foreign and local shipping companies operating on the waterways.

This also comes against the backdrop of a report by the United States of America (USA), through its maritime administration which published the latest Maritime alert red flagging Nigeria waterways over serial pirate attacks on Nigerian waters and warning ships to be weary when approaching.

Ameachi said; “Currently, Maersk Line told me they spend between $15 million and $18 million annually to those escorting their vessels from one point to another on our waterways.” But, the minister said all attacks on the nation’s waterways will subside as the federal government has contracted an Israeli firm to monitor and secure Nigerian coastal waters against maritime crimes.