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Akutah decries payment of $1.5 billion by Nigerian Shippers on War Risk insurance premium in three years

— as NSC set to engage Lloyd’s of London, P&I insurance over the unfair charges
Funso OLOJO 
The Nigerian Shippers’ Council(NSC) has decided to meet with international insurance underwriters over the continued imposition of War Risk Insurance premium on Nigeria- bound cargo.
The decision of the Council followed the continued collection of the subcharge by the foreign shipping companies from Nigerian Shippers despite improved security on Nigerian waters and the Gulf of Guinea.
Making this disclosure on Wednesday, August, August 27th, 2025 was the Executive Secretary of the NSC, Barrister Pius Akutah while delivering a goodwill message at the third edition of the MARAN Maritime Lectures(MAMAL) with the theme “Burden of War Risk Insurance Surcharge on Nigerian Maritime Trade – A Case for Review”.
Barrister Akutah, who spoke through
Mrs Margaret Ogbonna, Director Regulatory Services, lamented the loss of N1. 5 billion paid by Nigerian Shippers in the last three years to the foreign shipping companies as war insurance premium.
According to him, these payments were unfair and unjustified given the zero piracy incident recorded in the Gulf of Guinea in the last three years.
Consequently, the NSC boss said the agency will meet with international insurance underwriters in order to reassess the situation.
“The Nigerian Shippers’ Council, as the Port Economic Regulator and a strong advocate for the protection of shippers’ interests, has consistently called for a review and removal of this war risk insurance surcharge.
” It is our firm belief that the continued imposition of these premiums is no longer justifiable, given the improved security metrics and Nigeria’s demonstrable commitment to safe shipping.
“Base on the report we are getting, the NSC is working towards engaging with international underwriters, Lloyd’s Market Association, and P&I clubs, to advocate for a data-driven reassessment of the risk status of Nigerian waters.
“We will also engage with NIMASA and other agencies to compile and present empirical evidence that clearly reflects the current security realities in our maritime domain.
“Furthermore, the Council supports ongoing discussions at ECOWAS, the Gulf of Guinea Maritime Collaboration Forum (GOGMCF/SHADE), and IMO platforms, aimed at securing recognition of Nigeria’s security achievements and the need for fairer treatment by the global shipping and insurance communities.
“We recognize that addressing this challenge requires continued collaboration between government, the private sector, the media, and international partners
“Available figures indicate that Nigeria has paid over $1.5 billion in the past three years alone to Lloyd’s of London, Protection and Indemnity (P&I) insurance, and other foreign insurance firms” Akutah lamented.
He disclosed that these cost will ultimately be transferred to Nigerian importers, exporters, and consumers, thus inflating the price of goods and undermining the competitiveness of  trade.
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NRC suspends Warri- Itakpe train service over operational concerns

Funso OLOJO, Editor 
The Nigerian Railway Corporation (NRC) has announced the temporary suspension of  Warri–Itakpe Train Service (WITS) due to what the management described as operational exigency and  technical advice from  the Corporation’s Engineers.
The temporary suspension, according to a public statement by the NRC, has become necessary to enable the Corporation carry out critical operational assessments  aimed at ensuring continued safety, reliability, and improved service delivery on the corridor.
“The NRC regrets the inconvenience this development may cause passengers and other stakeholders, and assures the public that efforts are currently ongoing to resolve the issues within the shortest possible time.
“Passengers and intending travelers will be duly informed before the end of the week on the date for the resumption of normal train operations.
“The Corporation remains committed to safe, efficient, and customer-friendly rail services across the country and appreciates the understanding, patience, and continued support of the public during this period” the NRC declared.
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Sallah: FG slashes train fares by 50 percent on all routes 

Gloria Odion, reporter 
The Federal government through the Federal Ministry of Transportation has announced a 50 percent fare reduction on all train services operated by the Nigerian Railway Corporation (NRC) as part of measures to ease transportation costs for Nigerians during the Eid-el-Kabir celebration.
The discount takes effect from Tuesday, May 26, 2026 and will run through Monday, June 1, 2026.
Accordingly, ticket fares on all NRC passenger train services across the country have been reduced by 50 percent of the existing approved rates within the stated period.
Passengers who had earlier purchased tickets at the full fare before the announcement will be entitled to a 50 percent rebate, reusable for train rides on or before Monday, June 1st, 2026.
Train schedules and timetables remain as previously advertised.
The Federal Ministry of Transportation said it appreciated the continued support of Nigerians and wishes all passengers and the Muslim faithful a peaceful and joyous Eid-el-Kabir celebration.
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Salah: NIWA MD threatens to wield big stick on violators of safety guidelines on waterways 

— calls for calm over Supreme Court judgement 
Funso OLOJO,Editor 
The Acting Managing Director and Chief Executive Officer of the National Inland Waterways Authority (NIWA), Umar Yusuf Girei, has issued a stern warning to boat operators across the country to strictly adhere to waterways safety regulations during the forthcoming Eid-el-Kabir celebrations.
Girei gave the warning during an exclusive interview with journalists at the NIWA headquarters in Lokoja, noting that festive periods often witness increased movement on the inland waterways, particularly within riverine communities.
According to him, compliance with safety measures during the Sallah season remains non-negotiable.
He stressed that overloading of boats would not be tolerated, while the use of life jackets by all passengers and operators remains compulsory.
Girei also warned against night travel, alcohol consumption by operators, and disregard for weather advisories.
“No overload, wearing of life jackets is mandatory, no night travel, no alcohol, and operators must ensure proper weather checks before embarking on any journey,” he stated.
The NIWA Acting MD further disclosed that enforcement teams, in collaboration with relevant security agencies, would be deployed across jetties nationwide to ensure strict compliance with safety regulations.
He warned that violators risk arrest, seizure of vessels, and prosecution.
Girei also urged passengers to avoid boarding overloaded boats, vessels without adequate life jackets, or boats attempting to operate at night.
While extending Eid-el-Kabir greetings to Muslim faithfuls, he appealed to community and religious leaders to help amplify waterways safety awareness during sermons and public gatherings.
Meanwhile, the NIWA boss advised stakeholders and clients of the Authority not to panic over the recent Supreme Court judgment concerning aspects of the NIWA Act.
He explained that the apex court upheld the Authority’s statutory responsibilities relating to inland waterways navigation, safety regulation, channel management, river infrastructure development, and the promotion of inland waterways transportation as contained in Sections 10 and 11 of the NIWA Act.
According to him, Sections 12 and 13 of the Act, which deal with land matters unrelated to maritime activities, were voided by the Supreme Court only to the extent of their inconsistency with the Constitution.
Girei therefore urged all stakeholders to remain calm, law-abiding, and await an official statement from NIWA after the Authority obtains the Certified True Copy of the judgment from the Supreme Court.
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