The number of pirate attacks in the Gulf of Guinea could double next year if governments do not act to protect off-shore assets, a body known as Paramount Group has said.
Paramount Group is Africa’s largest privately owned defence and aerospace business.
In its report released on Tuesday, the group said “it is estimated that one piracy attack a day has occurred in Gulf of Guinea in 2013. This figure is set to rise to two a day in 2014.”
However, the Group said that piracy threatens more than just oil and gas assets, criminal gangs at sea are responsible for drug trafficking, arms smuggling, dumping of toxic waste, illegal bunkering and illegal fishing.
This is in addition to the problems caused by the profits from piracy that finance other criminal activity such as terrorism and human trafficking that have a significant human and financial cost.
James Fisher, CEO of Paramount Naval Systems said: “As stronger counter-piracy measures have developed in East Africa, criminal organisations have come to see coastal assets in West Africa as soft targets. The result is that the waters of the Gulf of Guinea are now the most dangerous in Africa for merchant shipping.
“West African nations are rapidly developing their oil and gas infrastructure to capitalise on existing assets and exploit new offshore discoveries. These assets can serve as the driver of long-term economic development in these countries, boosting industry, creating thousands of jobs and bringing in billions of dollars of foreign investment.
“Unless it is tackled quickly and effectively, piracy could do serious damage to Nigeria’s oil and gas industry, slowing development for years to come.
“The solution is not to seek international help to solve these African problems, but to build African solutions to them. The development of a strong African shipbuilding industry means it is possible for African nations to find African solutions to the threat of piracy”.
In response to growing demand from sovereign governments across Africa and the developing world, Paramount Naval Systems is developing a fleet of multi-role patrol vessels. The speed and flexibility of Paramount’s ships mean they are ideal for a wide range of operations in coastal waters to prevent illegal activity and protect assets and territory.