The Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has disclosed that Nigeria has finally exited from the list of War Risk Insurance (WRI). Being on the WRI list comes with imposed higher insurance rates on vessels coming into Nigeria’s continental area.

According to the NIMASA boss, Nigeria recorded 24 months of zero piracy in its continental shelf to attain the feat.

Recall that Mobereola had, last month, disclosed that the agency would be engaging foreign insurance companies to tackle the issue of war risk insurance placed on Nigerian bond cargos by shipping companies.

He expressed worry why Nigeria would be placed on the piracy hot list of the international community and be compared to Sudan and Somalia when there had not been a war in Nigeria since 1966.

But speaking, yesterday, at the 2024 Graduation Ceremony of the Advanced Combat Training Programme for the Maritime Security Unit of the Deep Blue Project, the Director-General, expressed great delight that the move has yielded positive results.

He also noted that the United Nations has awarded larger continental shelf to Nigeria, something the Nigerian authorities are celebrating for its ability to increase Nigeria’s economic wealth.

He said such feat was very remarkable because of the huge impact in the economy, especially the push for a deepened blue economy.

The DG said that the new effort would win back the confidence of the international maritime community.

He said the minister of defence and that of the blue economy have worked to sustain the new rating of Nigeria.
Nigeria was blacklisted some years ago and a WRI status was slammed on the country due to frequent attacks on vessels headed to Nigeria.

But the NIMASA DG explained that the Federal Government through the agency came up with the Deep Blue Project which created a command from the Navy, Air Force, Army, and the Police with special equipment and specialised training by foreigners to confront the seas and territorial waters.

According to the NIMASA boss, that led to some positive results which led to the zero incidence rating and removal of Nigeria out of the risk zones.

Speaking also at the event, the Minister of Defence, Mohammed Badaru Abubakar, said the project is dear to the agency.

He said the results were sequel to hardwork, dedication and commitment to securing the nation’s maritime domain.

He reminded the graduates that they have the responsibilities of safeguarding the waters and ensuring that they remain safe, secure and free from all forms of threats.

The Chairman, Senate Committee on Maritime Transport, Senator Wasiu Sanni Eshinlokun, said that the graduation ceremony marks the transformative milestone in the collective endeavours of Nigerians to secure the nation’s maritime domain.