The United Nations (UN) disclosed that Nigeria lost an estimated 2.8 billion dollars in revenues in 2018, as a result of oil-related crimes.

This report was made available by the Secretary-General on the activities of the United Nations Office for West Africa and the Sahel (UNOWAS)’ on Monday in New York. The report, which covered from July 1, 2018 to Dec. 31, 2018, said “Maritime crime and piracy off the coast of West Africa continued to pose a threat to security, peace and development in the region.

“According to government figures, Oil-related crimes resulted in the loss of nearly 2.8 billion dollars in revenues last year in Nigeria.
“Not fewer than 82 reported incidents of maritime crime and piracy in the Gulf of Guinea Between January 1 and November 23.

The report also stated that compared to the situation reflected in the previous report, there was an increase in drug trafficking throughout West Africa and the Sahel. More than 50 kilogrammes of cocaine were seized between July and October by joint airport interdiction task forces in Benin, the Gambia and Nigeria.

“During the same period in view, more than six kilogrammes of methamphetamines, eight kilogramme of heroin (double the amount in the first half of 2018) and 2.6 tonnes of cannabis were seized joint airport interdiction task forces.
During the reporting period, it noted that conflicts between herders and farmers resulted in destruction of livelihoods, and property, loss of lives, population displacements and human rights violations and abuses.

Outbreaks of violence were recorded in many states across the country, although with more frequency in the Middle Belt region, Adamawa and Taraba. The increase in conflict between farmers and herders was linked with demographic pressures, desertification and the attendant loss of grazing reserves and transhumance routes, which had been exacerbated by climate change.

Others causes of the clashes between herders and farmers were challenges in the implementation of effective land management and climate change adaptation policies, and limited enforcement of existing pastoral laws.

Furthermore, Political and economic interests, the erosion of traditional conflict resolution mechanisms, and weapons proliferation, were other factors attributed to the increased cases between herders and farmers conflict.

SOURCE: https://www.trendingaccounting.com/2019/01/how-nigeria-lost-28-billion-in-revenue.html