Harboursandport.com: Lagos, Nigeria - July 17, 2025: Nigeria’s maritime future hangs in the balance as the Nigerian Maritime Administration and Safety Agency, NIMASA, led by Director General Dayo Mobereola, pushes back against the hefty War Risk Insurance, WRI premiums levied on ships headed for Nigeria. But despite its vocal campaign, real impact remains elusive.
Each year, WRI drains approximately $500 million from the Nigerian economy—an unjustifiable surcharge rooted in outdated narratives of piracy and insecurity. While NIMASA insists it’s fighting back, many stakeholders are left asking: Where are the results?
International bodies like the International Maritime Bureau (IMB) and the International Bargaining Forum (IBF) have confirmed Nigeria’s removal from piracy watchlists—IMB in 2021 and IBF in 2023. Even the Minister of Marine and Blue Economy, Adegboyola Oyetola, credits the Deep Blue Project for restoring calm to Nigerian waters. Still, major insurers like Lloyd’s of London continue applying war risk surcharges.
A single voyage by a crude oil tanker could cost up to $445,000, while container ships might shell out $525,000. Maersk even adds a $450 per container “transit disruption fee.” That’s not just numbers—it’s extra cost passed directly to Nigerian businesses and consumers.
Shipowners, importers, and experts like Aminu Umar (Sea Transport Services) and Sola Adewunmi (NISA) emphasize that true reform hinges on engaging the Joint War Committee—the actual body behind WRI decisions. Until then, efforts may remain symbolic.
The Maritime Reporters Association of Nigeria, MARAN, is ready to flip the script. Its upcoming 3rd Annual Maritime Lecture (MAMAL 2025), happening August 28 at Eko Hotel & Suites, aims to confront the WRI issue head-on. With the theme "Addressing the Burden of War Risk Insurance on Nigerian Maritime Trade," the event will gather over 500 key stakeholders to demand reform.
MARAN President, Mr. Godfrey Bivbere, boldly calls WRI a form of international fraud, adding that such burdens are holding Nigeria’s economy hostage.
The MARAN event is expected to be more than just talks as experts are expected to dive deep into: The roles of classification bodies like Lloyd’s of London; Insights from shipowners, insurers, Navy representatives, and diplomats and Economic impacts of Extra War Risk Insurance, EWRI.
NIMASA may be speaking to the UN, but MARAN is rallying the real players. It's time for Nigeria to shed the “war zone” label and demand fairness. MAMAL 2025 could be the turning point where industry voices unite to say: Enough is enough.
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