Joyce Mmereole Okoli
Despite bold proclamations by the Nigerian Maritime Administration and Safety Agency (NIMASA) to eliminate the controversial War Risk Insurance (WRI) surcharge on vessels bound for Nigeria, stakeholders say the agency’s so-called “aggressive campaign” is yielding little real progress.
With an estimated $500 million lost annually to WRI premiums, questions are mounting over the effectiveness of NIMASA’s approach, especially as Nigeria remains wrongly tagged a high-risk destination even after being delisted from global piracy watchlists since 2021.
Now, the Maritime Reporters Association of Nigeria (MARAN) is stepping in where it believes NIMASA has stalled. At its upcoming 3rd Annual Maritime Lecture (MAMAL 2025), scheduled for August 28 at Lagos’ prestigious Eko Hotel and Suites, MARAN will dissect the continued imposition of WRI and its devastating impact on Nigeria’s economy.
“The continued surcharge is international fraud,” declared MARAN President, Mr. Godfrey Bivbere, who said the association would use MAMAL 2025 to mobilize industry-wide resistance. “Nigeria is no longer a piracy zone, yet we’re still paying like one. This injustice must end.”
Despite repeated assurances by NIMASA Director General Dr. Dayo Mobereola, including plans to escalate the issue to the United Nations, major shipping and insurance players like Lloyd’s of London and P&I clubs continue to impose excessive fees on Nigerian-bound ships some as high as $525,000 per trip.
The International Maritime Bureau (IMB) confirmed Nigeria’s removal from the list of piracy prone nations in 2021. This was further reinforced in 2023 when the International Bargaining Forum (IBF) delisted Nigeria from its high-risk list. Yet, these certifications have done little to change insurers’ behavior.
Alhaji Aminu Umar, President of the Nigerian Chamber of Shipping, emphasized the need for direct engagement with the Joint War Committee, the London-based group that dictates WRI applicability. “It’s not enough to talk; NIMASA must act decisively and strategically,” he said.
At the heart of the issue lies the Deep Blue Project a multi-billion naira maritime security initiative driven by NIMASA and credited with drastically improving safety on Nigerian waters. The Minister of Marine and Blue Economy, Adegboyega Oyetola, recently affirmed that the country has seen no pirate attacks in over three years.
Yet international shipping companies like Maersk continue to apply “transit disruption surcharges” of up to $450 per container, compounding the costs passed down to Nigerian consumers already grappling with inflation.
MAMAL 2025, themed “Addressing the Burden of War Risk Insurance on Nigerian Maritime Trade,” is expected to draw over 500 industry players, including security experts, terminal operators, shipping lines, diplomats, regulators, and maritime insurers.
The conference aims not just to highlight the issues but to press for immediate federal intervention and force a revision of Nigeria’s status on global maritime insurance lists.
As the war risk surcharge continues to drain national resources, MARAN appears determined to do more than just talk. It’s convening the stakeholders that matter, challenging international bias, and demanding a change many say is long overdue.