Ogbeifun, Maiguwa, Akinola named in 8- man committee to tackle war risk premiums
Ogbeifun, Maiguwa, Akinola, Others Named in 8-Man Committee to Tackle War Risk Premiums
By Babatunde Aremu
The Maritime Reporters Association of Nigeria (MARAN) has constituted an eight-man committee to drive the implementation of resolutions reached at the just concluded 3rd Annual Maritime Lecture (MAMAL 2025), with particular focus on ending the War Risk Insurance (WRI) premiums imposed on vessels calling at Nigerian ports.
The committee, inaugurated after the lecture held on August 27 at Four Points by Sheraton, Victoria Island, Lagos, is chaired by maritime security expert, Mr. Emmanuel Maiguwa, while Mr. Oluyinka Onigbinde serves as secretary.
Other members include veteran shipowner *Engr. Greg Ogbeifun, former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Temisan Omatseye, President of MARAN, Mr. Godfrey Bivbere, Special Assistant to the Minister of Marine and Blue Economy, Mr. Bolaji Akinola, Protection and Indemnity (P\&I) Club consultant, Ms. Ejide Shodipo, and the Flag Officer Commanding Western Naval Command, Rear Admiral Gregory Oaemen.
The committee’s mandate is to coordinate engagements with local and international stakeholders with the aim of securing the suspension of WRI premiums, which stakeholders argue have become unjustifiable in light of Nigeria’s improved maritime security.
During the lecture, which had as its theme “Addressing the Burden of War Risk Insurance on Nigeria’s Maritime Trade,” stakeholders noted that Nigerian shippers have paid more than $5 billion in surcharges in the last three years.
The Executive Secretary of the Nigerian Shippers’ Council (NSC), Dr. Pius Akutah, represented by Director of Regulatory Affairs, Mrs. Margaret Ogbonna, maintained that the premiums were no longer defensible, pointing out that Nigeria has recorded four years without major piracy incidents. He attributed this to the combined efforts of the Navy, NIMASA, and the Ministry of Marine and Blue Economy through initiatives such as the Deep Blue Project and enforcement of the Suppression of Piracy and Other Maritime Offences (SPOMO) Act.
Chairman of the lecture, Engr. Ogbeifun, charged industry players to ensure that measurable results are achieved before MAMAL 2026, stressing that sustained advocacy must lead to tangible outcomes.
Former NIMASA Director-General, Capt. Omatseye, criticized the London-based Joint War Risk Committee, describing its continued classification of Nigeria as a high-risk country as discriminatory. According to him, while Nigeria is charged war risk rates of up to 0.65 percent, countries with weaker security profiles such as Pakistan pay as little as 0.25 per cent.
Also speaking, the Director-General of NIMASA, Dr. Dayo Mobereola, represented by Mr. Victor Iloh, reaffirmed the agency’s commitment to sustaining maritime security gains and to supporting collective advocacy aimed at achieving the removal of the charges.
MARAN stated that the committee will pursue follow-up actions, monitor progress, and provide periodic updates to stakeholders. It stressed that the ultimate objective is to position Nigeria as a cost-competitive and secure maritime hub by bringing an end to the war risk surcharge regime.
