• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, August 31, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Halt War Risk Surcharge On Nigeria Bound Vessels, Federal Govt Urges Foreign Insurers

by Yusuf Babalola
3 years ago
in Business
Vessels
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has called on insurance companies globally and Lloyd of London to stop collection of the War Risk Insurance premium on Nigerian bound cargoes.

Advertisement

Speaking at the graduation ceremony of the third batch of the Maritime Security Unit, Technicians and Mechanics of Unarmed Area Vehicles, Armoured Personnel Carriers of the Integrated National Security and Waterways Protection Infrastructure, also known as the Deep Blue Project, held in Portharcourt, Rivers State, over the weekend, the director general of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, said Nigeria has done so much to stamp out piracy on its territorial waters and the Gulf of Guinea.

According to him, Nigeria is deserving of the international insurance companies consideration of a removal of the war risk insurance from vessels and good destined for Nigeria.

The NIMASA boss further disclosed that since inception of the deep blue project, Nigeria has maintained a zero pirate attack, adding that, the two recent pirate incidents on the Nigerian waters were unsuccessful.

Dr Jamoh further disclosed that the imposition of the war risk insurance on all Nigerian bound cargoes was a deadly blow on the economy as its negative impact on cost of goods is felt by all sundry.

RELATED

GTCO Declares Pre-tax Profits Of N300.4bn In Q1

GTCO Crosses N500bn Capital Base With Fresh Fund Injection

18 hours ago
JUST-IN: Federal Gov’t Increases Mining Fees, Royalties To Be Paid Operators

Scholarship Beneficiaries Seek Minister’s Intervention Over Mining In Community

18 hours ago
ADVERTISEMENT

“Nigeria is an import dependent country, it is either what we consume is imported or the materials for making them are imported, therefore, such insurance premium which is a penalty for the insecurity we then had on our waters translated into high cost of goods in the market.

“I believe that once it is removed, though it is mostly difficult for anything that goes up to come down in Nigeria, but in this case, competition will definitely force the price of goods down. So, the international community will be reciprocating the achievement Nigeria has recorded in the fight against piracy using the innovative deep blue project.”

I am taking to the world,” Jamoh said.

ADVERTISEMENT

He, however, stated that, since the implementation of the project, no pirate attack has successfully taken place in Nigeria’s territorial waters.

Also speaking, the minister of Transportation, Engr. Mu’azu Sambo, affirmed the satisfaction of the federal government with the highly improved state of security in the Nigerian territorial waters since the commencement of the deep blue project, assuring that, the government will sustain the programme.

He said:  “an intelligence mapping of the activities of pirates and sea criminals revealed that most pirates and sea robbery attacks are planned on land, executed on land and the proceeds are also taken to the land.

“Therefore, the activities of the maritime security unit, especially their logistics which is made possible by the armoured personnel carriers’ technicians are very critical and indispensable in the entire deep blue architecture due to their role in dismantling the operational structures of these criminals.”

He applauded the graduants for enduring the rigorous process leading to their graduation, saying, all parties to this project are sincerely working hard to give it a good start.


Join Our WhatsApp Channel



SendShare10176Tweet6360Share
ADVERTISEMENT
Previous Post

2023: Tinubu Hits Back At Atiku Over Security Watch Comment  

Next Post

PSN Charges NAFDAC To Solve Expired Drugs Disposal Menace

Yusuf Babalola

Yusuf Babalola

You May Like

GTCO Declares Pre-tax Profits Of N300.4bn In Q1
Business

GTCO Crosses N500bn Capital Base With Fresh Fund Injection

2025/08/30
JUST-IN: Federal Gov’t Increases Mining Fees, Royalties To Be Paid Operators
Business

Scholarship Beneficiaries Seek Minister’s Intervention Over Mining In Community

2025/08/30
Business

Budget Office Explains Delay In Budget Implementation Reports

2025/08/30
T2, Huawei Ink Multi-Million Dollar Deal For Core Network Overhaul
Business

T2, Huawei Ink Multi-Million Dollar Deal For Core Network Overhaul

2025/08/30
Maltina Rolls Out New PET Bottles
Business

Maltina Rolls Out New PET Bottles

2025/08/30
Abia Think Tank Calls For Govt Accountability, Inclusivity
Business

Abia Govt To Revive Moribund Industries In Aba

2025/08/30
Leadership Conference advertisement

LATEST

Federal Gov’t Sets 100% Performance Target Pacts With NSCDC, Other Paramilitary Heads

Poetry Enthusiasts Decry Decline In Reading Culture

CDS Visits Plateau, Says Cycle Of Destruction, Displacement Must End

Emergency Rule In Rivers Ends Soon – Wike

Colombian VP Arrives Abuja On Official Visit

A Nation Under Siege

Mother Demands Probe Of Son’s Alleged Murder By Gov’s Security Aides

13,595 Families Searching For 23,659 Missing Persons In Nigeria – Red Cross

US Declares Trump’s Global Tariffs Illegal

Civil Service Reform Imperative, Says FCSC Chairman

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.