Nigeria is currently losing $25 billion annually to illegal oil bunkering and insecurity on the nation’s waterways. This was disclosed by the immediate past minister of transportation, Rt. Hon Rotimi Amechi, over the weekend at a reception organised by Team Maritime Nigeria to celebrate the achievements of the former minister of transportation in the maritime sector. Amaechi said the $25 billion illegal economy in the Nigerian waters was as a result of illicit oil bunkering. He further stated that if the $25 billion Nigeria losses to illegal water economy were ploughed back into the nation’s economy, Nigeria would be a rich country. He however, said that during his tenure as the minister of transportation, the ministry pushed for a security contract of $195 million to tackle insecurity in the nation’s water. Amaechi advised that if the new minister of transportation is not strong, the security contract would not fly. […]