For stamping out piracy on the Gulf of Guinea and its territorial waters, the federal government has said Nigeria bound vessels and cargoes now deserve the removal of the hitherto war risk insurance premiums paid on such items to international insurance companies and the Lloyd of London.
Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh made the call when he spoke at the graduation ceremony of the third batch of the Maritime Security Unit, Technicians and Mechanics of Unarmed Area Vehicles, Armoured Personnel Carriers of the Integrated National Security and Waterways Protection Infrastructure, also known as the Deep Blue Project, in Port Harcourt, Rivers State, over the weekend.
Jamoh, said Nigeria has done so much to stamp out piracy on its territorial waters and the Gulf of Guinea and therefore called on major insurance companies around the world and Lloyd of London to stop the collection of the War Risk Insurance premium on Nigerian bound cargoes.
He disclosed that since inception of the deep blue project, Nigeria has maintained a zero pirate attack, adding that the two recent pirate incidents on the Nigerian waters were unsuccessful.
According to him, the imposition of the war risk insurance on all Nigerian bound cargoes was a deadly blow on the economy as its negative impact on cost of goods is felt by all sundry.
“Nigeria is an import dependent country, it is either what we consume is imported or the materials for making them are imported, therefore, such insurance premium which is a penalty for the insecurity we then had on our waters translated into high cost of goods in the market.”
He, however, stated that since the implementation of the project, no pirate attack has successfully taken place in Nigeria’s territorial waters.
Minister of Transportation Engr. Mu’azu Sambo, affirmed the satisfaction of the federal government with the highly improved state of security in the Nigerian territorial waters since the commencement of the deep blue project, assuring that the government will sustain the programme.
He said, “An Intelligence mapping of the activities of pirates and sea criminals revealed that most pirates and sea robbery attacks are planned on land, executed on land and the proceeds are also taken to the land.
