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Nigeria seeks end to $1.5b war insurance risk

Nigeria is seeking an end to the $1.5billion war risk insurance premiums on Nigerian-bound vessels. Its Minister of Marine and Blue Economy, Adegboyega Oyetola, warned that the outdated surcharge has drained an estimated $1.5 billion from the economy in recent years despite zero piracy incidents in the country’s waters since 2021.  “Nigeria has earned the…

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Tanzania backs Nigeria’s IMO council bid

United Republic of Tanzania has thrown its weight behind Nigeria’s bid for election into Category C of the International Maritime Organization (IMO) Council, citing strong bilateral relations and Nigeria’s past support as key factors.  This declaration was made during a courtesy visit by the Tanzanian High Commissioner to Nigeria, His Excellency Selestine Gervas Kakele, to…

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