The Nigerian Shippers’ Council (NSC) has thrown its weight behind the Maritime Reporters Association of Nigeria’s (MARAN) advocacy against war risk premiums.
The NSC’s Executive Secretary, Dr. Akutah Pius MON, has expressed his organization’s commitment to reducing the cost of doing business at Nigerian ports.
Unjustified Classification
Dr. Akutah questioned the classification of Nigeria as a war risk zone, citing the absence of terrorist attacks in Nigerian waters over the past three years.
He emphasized that this classification imposes additional costs on the Nigerian economy and undermines the competitiveness of the nation’s ports.
The NSC boss praised MARAN’s efforts in championing advocacy around the removal of war risk insurance on Nigerian-bound cargo.
He stressed the need for a holistic approach to eliminating the burden of War Risk Insurance (WRI) and suggested engaging the United African Shippers’ Council (UASC) and Global Shippers Forum (GSF).
MAMAL 2025
Dr. Akutah pledged the NSC’s full participation in the MARAN Annual Maritime Lecture (MAMAL) 2025, which will focus on “Addressing the Burden of War Risk Insurance on Nigerian Maritime Trade.” He expressed his personal interest in attending the event due to its relevance to the NSC’s core mandate.
Dr. Akutah noted that the Minister of Marine and Blue Economy, Adegboyega Oyetola, is already leading efforts to get Nigeria off the war risk list. He emphasized the need for continued advocacy and stakeholder engagement to achieve this goal.
The NSC’s support for MARAN’s advocacy against war risk premiums marks a significant step towards reducing the cost of doing business at Nigerian ports.
MAMAL 2025 promises to be a critical platform for stakeholders to shape the future of the maritime industry.
