Nigeria has recorded an 87 percent decline in piracy incidents, prompting maritime experts to call for a global reassessment of the country’s risk status and the removal of the War Risk Premium imposed on vessels operating in its waters.
Speaking at the 3rd MARAN Annual Maritime Lecture in Lagos on Wednesday, Western Zone Flag Officer Commanding (FOC) Rear Admiral Gregory Oamen highlighted that a secured maritime environment remains critical to Nigeria’s economic growth and national security. He noted that the Navy has implemented strategic policing operations over the last decade to curb incidents such as piracy, crude oil theft, sea robbery, and illegal fishing.
Rear Admiral Oamen who was represented by the Commander, NNS Thunder, Navy Capt. Olanrewaju Oginni cited that according to IMB data, Nigeria recorded 33 attacks in 2017, 48 in 2018, 35 in 2019 and 2020 respectively, and six in 2021. However, there were no reported attacks in 2022, only two in 2023, and a single incident in 2024. “This sharp decline is not coincidental; it is the result of sustained, intelligence-led operations,” Oamen added.
Despite these gains, he acknowledged challenges such as inadequate logistics and limited surveillance coverage in the backwaters, stressing the need for additional funding and integration of drones into monitoring systems to consolidate progress.
“The Nigerian Navy has maintained an active presence at sea, enhanced surveillance through advanced Maritime Domain Awareness systems, and strengthened inter-agency collaboration. These efforts have drastically reduced piracy cases, leading to Nigeria’s removal from the list of piracy-prone nations by the International Maritime Bureau (IMB) in 2022,” Oamen stated.
Also speaking, Secretary-General of the Abuja Memorandum of Understanding (MoU), Capt. Sunday Umoren, questioned the rationale behind the war risk surcharge, noting that it benefits foreign interests at the expense of local stakeholders.
Umoren queried the beneficiaries of the surcharge, asserting that Nigerians, particularly consumers, bear the ultimate cost through higher freight rates and inflated prices. He argued that the perception of Nigerian waters as high-risk no longer reflects reality, and urged stakeholders to intensify advocacy for its removal.
“Who are the people gaining from this thing? Shipowners. But who takes the punch from these high premiums? You and I. Where is the war? I am not seeing any war. Yet, Nigerians are paying heavily for it.
“When we get to the point of having most of the shippers or shipowners being Nigerians, they can determine their own fate. At the end of the day, it’s their vessel, they know how to do it,” Umoren noted.
Earlier in his welcome address, President of the Maritime Reporters Association of Nigeria (MARAN), Mr. Godfrey Bivbere, described war risk insurance as a major impediment to Nigeria’s maritime competitiveness.
Bivbere noted that the additional cost burden does not only affect shipowners and terminal operators, but also cascades across the entire supply chain—impacting importers, exporters, and ultimately the average Nigerian consumer.
The MARAN president however emphasized that the lecture was convened to address this pressing challenge through constructive dialogue among stakeholders, including industry leaders, policymakers, security experts, and international partners.
“The continued imposition of this premium inflates costs across the trade value chain—from shipowners to consumers—and undermines efforts to position Nigeria as a maritime hub in West Africa. Our goal is clear: to explore actionable solutions, foster transparency, and galvanize collective effort toward lifting the war risk designation that has long shadowed our waters,” Bivbere added.
Other stakeholders at the event echoed similar sentiments, describing the premium as an unnecessary burden that erodes the competitiveness of Nigerian ports. They urged international underwriters and shipping associations to recognize the progress achieved in maritime security
