Sea Piracy and Armed Robbery in the Gulf of Guinea and Its Effect on Shipping Cost and Nigeria’s Economic Growth
Oceanography & Fisheries Open Access Journal Juniper publishers Authored by: Anyanwu Okechukwu Julius Abstract Purpose: The Due to the increasing rate of economic damages of insecurity to the Nigerian maritime industry with cases of loss of revenue to the federal government occasioned by; high freight charges for Nigeria bound cargoes, high insurance premium chargeable on both ships and cargoes, coming to Nigerian and total boy-cut of the Nigerian ports by most shipping lines. The researcher has been led to carry out research on sea piracy and armed robbery in the Gulf of Guinea and its effect on shipping cost and Nigeria’s economic growth. This research was set out to realize some specific objectives, while research hypotheses were formulated in this regard to address the objectives of this study. Design/methodology/Approach: The research adopted ex-post facto design. Data were sourced through secondary means from Nigeria Maritime Administration and Safety Ag