NIMASA vows to eliminate over $1.5bn in war risk premium on Nigerian-bound cargoes

The Nigerian Maritime Administration and Safety Agency has vowed to eliminate Lloyd’s of London, Protection and Indemnity Insurance, and other foreign insurance firms in War Risk Insurance Premium on Nigerian-bound cargoes, which amounted to over $1.5 billion in the last three years.

The spokesperson of NIMASA, Osagie Edward, disclosed this in a statement on Thursday, noting that the current leadership of Dr. Dayo Mobereola was committed to improving the ease of doing…