By Hauwa Ali
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh,says that the continued war risk surcharge of Nigerian-bound cargoesis the reason why goods are so expensive, calling on major insurance companies around the world and Lloyd of London to stop the collection of the War Risk Insurance premium on Nigeria bound cargoes.
Jamoh said this 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, held in Portharcourt, Rivers State, over the weekend.
According to him, Nigeria is deserving of consideration for the removal of the war risk insurance from vessels and goods destined for Nigeriaas the country has done so much to stamp out piracy on its territorial waters and the Gulf of Guinea.
“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.
“I believe that once it is removed, though it is mostly difficult for anything that goes up to come down in Nigeria, but in this case, competition will definitely force the price of goods down. So, the international community will be reciprocating the achievement Nigeria has recorded in the fight against piracy using the innovative deep blue project. That is the message I am taking to the world,” Jamoh said.
The NIMASA boss further 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.
Jamoh further disclosed that 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.