By The Nigerian Maritime Administration and Safety Agency (NIMASA) has called for the immediate removal of the war risk surcharge imposed on vessels entering Nigerian waters, saying the country’s coastline and the Gulf of Guinea are now much safer for shipping.
The war risk surcharge is an extra fee added to freight and insurance costs when a shipping route is considered high-risk due to conflict or insecurity. For years, Nigeria-bound vessels have faced these costly premiums, with the country paying at least $400 million every year despite improvements in maritime security.
Between 2020 and 2023, vessels heading to Nigeria reportedly paid a staggering $620 million in war risk premiums — a cost NIMASA says is no longer justified.
Speaking at the mid-term review of the Danish Maritime Security Project in Ghana on Thursday, NIMASA Director General, Dr. Dayo Mobereola, highlighted the success of Nigeria’s Deep Blue Project, a massive security investment aimed at protecting the country’s waters. Represented by Chidi Ofodile, NIMASA’s Executive Director of Finance and Administration, Mobereola said the Gulf of Guinea has recorded no piracy incidents since 2022.
Given this track record, NIMASA insists that the war risk surcharge should have been scrapped already. The agency is now seeking support from the Danish government and other international bodies to push for its removal.
“NIMASA and the federal government have made serious investments to secure our waters, achieving nearly zero piracy and robbery in the Gulf of Guinea. There’s no reason vessels should still be paying this premium,” Mobereola said.
