NIMASA seeks to end higher risk insurance on Nigerian cargo

Sustained reduction in reported cases of piracy and other related maritime crimes on Nigerian waters would end the collection of War Risk Insurance premiums on Nigeria-bound cargoes, Bashir Jamoh, director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA) has said.

Jamoh said this when he received Emmanuel Jime, executive secretary of the Nigerian Shippers’ Council (NSC), who visited the Agency’s headquarters in Lagos recently.

According to Jamoh, the international shipping community had acknowledged the progress made by Nigeria in seeking for security in the Gulf of Guinea, as confirmed by recent reports by the International Maritime Bureau (IMB).

He said the decrease in maritime incidents logged in IMB’s second-quarter report was a valuable feedback on the Agency’s campaign for delisting Nigeria from countries under the war risk insurance burden.

According to a statement by Osagie Edward, assistant director, Public Relations of NIMASA, Jamoh added that there is a need for Nigeria to sustain the progress made on improving security on Nigerian waters.

“The international shipping community is watching developments in Nigeria and the Gulf of Guinea with keen interest. They want this positive development to be sustained,” he said.

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Jamoh attributed the positive result to the deployment of Deep Blue Project in February, which has helped to achieve steady decline in pirate attacks on Nigerian waters.

“With adequate sensitisation of the international shipping community, we are sure that our quest to be removed from nations that are considered as dangerous waters will soon materialise for the benefit of Nigerian shippers,” he added.

On his part, Jime called for greater collaboration among relevant government agencies to enable the country derive the full economic benefits of the maritime sector. He commended NIMASA for placing fleet expansion at the heart of her efforts to encourage indigenous participation in the maritime industry.

He however pointed out that there was no better time to have a national carrier than now when the world was gradually looking away from fossil fuels.

“Nigeria cannot be caught unawares. We need to look at ways of developing our shipping sector, which from studies, is capable of earning the country even more than oil annually. And maritime security is pivotal to achieving this goal,” Jime said.

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