MARAN Challenges NIMASA’s WRI Campaign as MAMAL 2025 Targets $1.5bn War Risk Premium Drain

MARAN Challenges NIMASA’s WRI Campaign as MAMAL 2025 Targets $1.5bn War Risk Premium Drain

By Ruth Sunday

As Nigeria battles to shed the unjustified “war zone” label attached to its maritime space, the Maritime Reporters Association of Nigeria (MARAN) has raised serious questions about the effectiveness of the Nigerian Maritime Administration and Safety Agency’s (NIMASA) ongoing campaign against War Risk Insurance (WRI) premiums.

Despite NIMASA’s public declarations under the leadership of its Director General, Dr. Dayo Mobereola, the agency’s efforts to eliminate the costly WRI surcharges imposed by foreign insurers on vessels calling at Nigerian ports are yet to yield tangible results.

Currently, Nigeria loses an estimated $500 million annually to these premiums, a figure that has reached $1.5 billion over the past three years, despite significant improvements in maritime security. According to the International Maritime Bureau (IMB), Nigeria was officially delisted from the global piracy hotspots in 2021. The International Bargaining Forum (IBF) further removed Nigeria from its high-risk list in 2023. Even the Minister of Marine and Blue Economy, Adegboyega Oyetola, has reiterated that no pirate attacks have been recorded in Nigerian waters for over three years, attributing the peace to the success of NIMASA’s Deep Blue Project.

Yet, global insurance giants like Lloyd’s of London and leading P&I clubs continue to levy massive WRI surcharges on Nigerian-bound vessels. A Very Large Crude Carrier (VLCC), for example, may pay as much as $445,000 in WRI fees per voyage, while container vessels are being charged upwards of $525,000. Additionally, international shipping lines such as Maersk add “transit disruption surcharges” of up to $450 per container — extra costs that are ultimately passed on to Nigerian consumers.

Amid growing frustration, MARAN is stepping into the spotlight with a bold initiative — its 3rd Annual Maritime Lecture (MAMAL 2025) scheduled for August 28, 2025, at Eko Hotel and Suites, Lagos. With the theme “Addressing the Burden of War Risk Insurance on Nigerian Maritime Trade,” the event is expected to be a landmark moment in Nigeria’s maritime history.

MARAN President, Mr. Godfrey Bivbere, has described the continued imposition of WRI as a deliberate and fraudulent international scheme draining the economies of Nigeria and other Gulf of Guinea nations. “This is not just an inconvenience — it is an economic sabotage,” Bivbere said, stressing the need for a more aggressive and unified national response.

While NIMASA has engaged in talks with foreign insurers and expressed intentions to escalate the issue to the United Nations, critics argue that the agency’s actions have so far produced more rhetoric than results. Maritime stakeholders are demanding direct engagement with the Joint War Committee in London — the body responsible for WRI designations — and more visible diplomatic pressure.

Alhaji Aminu Umar, Managing Director of Sea Transport Services Nigeria Limited and President of the Nigerian Chamber of Shipping, emphasized this point, urging NIMASA to focus on the committee where decisions on risk designation are made.

MAMAL 2025 is expected to gather over 500 key stakeholders from across the maritime spectrum, including shipowners, terminal operators, foreign diplomats, insurance underwriters, legal experts, regulators, and representatives from the Nigerian Navy and international shipping lines. According to MARAN, this wide coalition will critically examine the roles of classification societies like Lloyd’s and assess the actual impact of NIMASA’s Deep Blue Project.

Notably, the Nigeria Shipowners Association (NISA) has expressed skepticism about the agency’s diplomatic route, describing the issue as a battle against “entrenched international politics” that demands more than bureaucratic engagement.

For MARAN, MAMAL 2025 represents more than a lecture series — it is a clarion call to the Federal Government and all stakeholders to reclaim Nigeria’s maritime reputation and end the exploitative surcharge regime.

With the country’s maritime domain now one of the most secure in the Gulf of Guinea, industry leaders say there’s no longer any justification for the continued labeling of Nigeria as a high-risk destination. What’s needed, they insist, is collective national outrage and coordinated industry advocacy.

As the countdown to August 28 begins, all eyes will be on MARAN and whether MAMAL 2025 can be the turning point in Nigeria’s long battle against War Risk Insurance exploitation.