The main areas of concern are off the coasts of Nigeria and Benin. According to the International Maritime Bureau (IMB), there have been 22 reported cases of piracy off the adjacent coasts so far this year – most of which have escalated from low-level armed robberies to hijackings, cargo thefts and large-scale robberies.
The situation in Benin is particularly troubling, as the country had no reported cases of piracy last year. Earlier this week, London-based insurers Lloyd's Market Association added Benin to a list of areas deemed to be high risk due the escalation of pirate attacks. The move also placed Nigeria and other nearby waters to be in the same risk category as Somalia.
To make matters worse, many analysts believe that a large number of pirate attacks in the Gulf has gone unreported as numerous ships carry illegal oil cargo while others fear that their insurance rates may rise.
Early this year, a study by the US-based NGO One Earth Future Foundation, estimated the annual cost of piracy in Somalia – including extortion money, costs of higher insurance premiums, re-routing ships, anti-piracy security and the impact on regional economies –ranged between US$7-12 billion.
While the situation in Western Africa has yet to hit Somali-like levels, there is a high possibility that the conditions may worsen unless something is done about it.
Presently, the US and other Western nations have an anti-piracy armada patrolling the waters off East Africa. However, there is no co-ordinated effort within Western Africa to control the piracy.
Last Thursday, Benin's president, Boni Yayi met with his Nigerian counterpart Goodluck Jonathan to discuss the piracy issue. Officials from Nigeria's Navy, its maritime industry and other groups also met with US officials last week in order to formulate anti-piracy strategies.