Togolese President, Faure Gnassingbe, on Thursday said $7billion is lost to piracy in the Gulf of Guinea annually due to insecurity in the country.
Mr. Gnassingbe stated this at a joint press briefing with his host, President Muhammadu Buhari, at the Presidential Villa, noting that the figure rose by 13.6% ($950million) in 2013, following increased level of insecurity in some of the countries in the Gulf.
Nigeria, alongside some other West African countries have since 2009 been bedevilled by Boko Haram’s relentless attacks on military and civilians, killing thousands and leaving about 1.4 million internally displaced.
He stressed the need for the member countries to cooperate in efforts to curb the activities of the pirates, adding that no single country can fight on its own.
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