Nigerian Shippers' Council and Navy Oppose War Risk Insurance on Nigeria-Bound Cargo
The Nigerian Shippers' Council and Navy have criticized the ongoing war risk insurance charges by international companies on Nigeria-bound cargo, citing a lack of pirate attacks in the last three years. They advocate for diplomatic efforts to address this issue. Both agencies stress the need for enhanced collaboration to improve trade facilitation and highlight Nigeria's successful security measures that have led to zero piracy incidents. The Shippers' Council aims to reduce freight costs by delisting Nigeria from the war risk zone.
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The Nigerian Shippers' Council and Navy have condemned the war risk insurance imposed on Nigeria-bound cargo, emphasizing there have been no pirate attacks in three years. They call for the federal government to leverage international diplomacy to address this exploitation.
The Navy's leadership suggests claims of danger due to their presence at ports may stem from international conspiracies, noting their successful patrols have maintained security. Both agencies are working to enhance trade facilitation under the African Free Continental Trade Area Agreement and aim to delist Nigeria from the war risk zone to lower freight costs.
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