BY MUDIAGA AFFE, CALABAR
Governor Liyel Imoke of Cross River State on Wednesday said global economy lost over $950m to piracy in the Gulf of Guinea region in 2012.
Imoke, who spoke at the end of the First Gulf of Guinea Regional Maritime Awareness Capability conference held in Calabar, also said the economic implication of the insecurity in the region was a realisation of the gravity of the situation.
The governor‚Äôs comment came just as naval chiefs from 10 countries in the region unanimously agreed in a communiqu√© issued at the end of the conference to, among others, facilitate the establishment of an effective legal regime for maritime enforcement within and among member-states in the Gulf of Guinea.
According to Imoke, who cited a reference from a study published by Industry Alliance, it is also estimated that total insurance cost for the insecurity in the region was put at between $423m to N437m in 2012.
He said, ‚ÄúIt is estimated that piracy in the Gulf of Guinea cost the world economy between $740m and $950m last year and that figure is expected to increase in 2013. The economic implication of this insecurity presents a stark realisation of the gravity of the situation.‚Äù
Imoke, who was represented by his deputy, Mr. Efiok Cobham, traced the insecurity in the region to the proliferation of low-intensity resource-induced attacks, mostly led by criminal gangs, warlords and other non-state actors.