The Maritime Reporters Association of Nigeria (MARAN) has established an eight-man committee to drive the implementation of resolutions reached at the 3rd Annual Maritime Lecture (MAMAL 2025) on the urgency to end the War Risk Insurance (WRI) premiums.
The committee set up on August 27, 2025, is chaired by maritime security expert Emmanuel Maiguwa, aims to secure the suspension of WRI premiums imposed on vessels calling at Nigerian ports.
The committee members include prominent industry stakeholders such as Greg Ogbeifun, Temisan Omatseye, Godfrey Bivbere, Bolaji Akinola, Ejide Shodipo, and Rear Admiral Gregory Oaemen. Their mandate is to engage with local and international stakeholders to end the WRI premiums, which stakeholders argue are no longer justifiable given Nigeria’s improved maritime security.
Nigerian shippers have paid over $5 billion in surcharges in the last three years, with the premiums becoming a significant burden on the maritime trade. However, with four years without major piracy incidents, industry players are pushing for the removal of the charges. The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to sustaining maritime security gains and supporting collective advocacy aimed at achieving the removal of the charges.
The committee will pursue follow-up actions, monitor progress, and provide periodic updates to stakeholders, with the ultimate objective of positioning Nigeria as a cost-competitive and secure maritime hub.
Industry leaders are optimistic that sustained advocacy will lead to tangible outcomes, and measurable results are expected before MAMAL 2026.