The Nigerian government says it is working to ensure that shipment of goods and services to the country from Europe no longer attract war risk insurance.
Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Bashir Jamoh said this on Thursday in Abuja at the 53rd session of the weekly State House briefing organised by the Presidential Communications Team.
He says there are three basic payments extracted from Nigerian shipping companies which include war risk insurance, insurance payment of valuables in the ship and workers insurance.
Jamoh said this has resulted in the high cost of imported goods and services
The NIMASA boss explained that the Nigerian government has asked shipping companies to give expectations that it must meet to exit the war risk insurance.
He added there are ratings in the security system, noting that Nigeria will continue to be rated based on its performance, saying awaits the report from the Lloyds of London to know it’s current rating.
(Editor: Oloyede Oworu)
