Abuja, July 14 (TIWN) Nigerian President Muhammadu Buhari has said the country annually loses about USD 26.3 billion to piracy and sea robbery, among other forms of maritime crimes.

In this light, securing the shipping lanes was crucial to Nigeria’s economic interests, Buhari, who was represented by Vice President Yemi Osinbajo, said while performing the inauguration of Falcon Eye Project, Nigerian Navy’s strategic maritime surveillance system, at the Naval headquarters in Abuja.