Joyce Mmereole Okoli
The Maritime Reporters Association of Nigeria (MARAN) has announced plans to host its 3rd Annual Maritime Lecture (MAMAL 2025), with a bold focus on exposing what it describes as international fraud perpetuated by foreign shipping lines through unjustified War Risk Insurance (WRI) premiums on vessels bound for Nigerian ports.
Scheduled to take place on August 28, 2025, at the Eko Hotel and Suites, Lagos, the high-profile event will convene over 500 maritime stakeholders from within and outside Nigeria, including shipowners, insurers, terminal operators, security experts, diplomats, and regulators.
Speaking ahead of the summit, MARAN President, Mr. Godfrey Bivbere, decried the continued imposition of war risk surcharges on Nigerian-bound vessels, despite verifiable improvements in maritime security across the Gulf of Guinea.
“War risk insurance has become an international fraud burdening Nigeria and other developing nations in the Gulf of Guinea. The costs are not justifiable,” Bivbere said.
According to MARAN’s findings, shipping companies charge as much as $445,000 to $525,000 per voyage for Very Large Crude Carriers (VLCCs) and container vessels respectively. Additionally, fees such as transit disruption surcharges and $40–$50 war risk charges per container are routinely levied by companies like Maersk.
The association insists that these exorbitant charges are undermining Nigeria’s maritime economy, adding that global insurers and shipping lines have failed to reflect Nigeria’s improved security in their pricing models.
MARAN referenced recent comments by Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, who confirmed that Nigeria has not recorded a single pirate incident in the past three years, thanks to investments such as the Deep Blue Project, managed by the Nigerian Maritime Administration and Safety Agency (NIMASA).
Also in March 2025, NIMASA Director General, Dr. Dayo Mobereola, appealed to a Danish delegation to help push for international recognition of Nigeria’s security progress.
“Vessels coming to Nigeria continue to pay high war risk premiums despite near-zero piracy incidents. This is unjustifiable,” Mobereola stated.
At MAMAL 2025, MARAN will spotlight the continued classification of Nigerian waters as high-risk zones, examine the roles of global classification bodies like Lloyd’s of London, and assess the responsibilities of agencies such as NIMASA, the Nigerian Navy, and other maritime security operators.
“The lecture aims to challenge the complacency of international shipping firms who profit off Nigeria’s trade while ignoring our security strides,” Bivbere said.
The theme for MAMAL 2025 is: “Addressing the Burden of War Risk Insurance on Nigerian Maritime Trade.”
With its consistent track record of drawing attention to pressing maritime issues, MARAN is poised to use this year’s summit as a springboard for demanding international policy changes and economic fairness for Nigeria and its regional neighbors.