BEARS & BULLS
BEARS: Sea Piracy Palava
The piracy along the Gulf of Guinea has increased to frightening heights in recent times especially along the Nigerian corridors. While the anomaly continues to thrive, the Nigerian Navy and the Nigerian Maritime Administration and Safety Agency (NIMASA) have become contented with making vain promises to tackle the menace of piracy.
These illicit practices have led to extra-war risk charges for vessels coming into Nigeria as well as higher salaries and insurance packages for foreign sailors who come into the country and nation continues to bleed dry as a result of these exorbitant charges.
‘A stitch in time saves nine’ Hmmmmm… It’s so bad, it looks like we already have about nine stitches pending!