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News Point247 > Security > Navy, Abuja MoU Intensify Call to End War Risk Premium on Nigerian Waters
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Navy, Abuja MoU Intensify Call to End War Risk Premium on Nigerian Waters

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Last updated: 2025/08/27 at 10:02 PM
4 months ago 4 Min Read
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By Sandra Chukwunyere

 

The Nigerian Navy and the Abuja Memorandum of Understanding (MoU) Secretary -:General have reiterated their call for the removal of the “war risk” classification on Nigerian waters, citing recent data that shows the Gulf of Guinea and Nigeria’s maritime environment are safer than often portrayed

Navy
Flag Officer Commanding, Western Naval Command,, Rear Admiral Michael Gregory Oamen

Speaking at the 3rd Annual Maritime Lecture organized on Wednesday by the Maritime Reporters Association of Nigeria (MARAN) in Lagos, the Flag Officer Commanding (FOC) Western Naval Command, Rear Admiral Gregory Oamen, presented an extensive analysis of maritime incidents from 2014 to 2025.

 

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The FOC who was represented by Navy Capt Olanrewaju Oginni, argued that Nigeria has made significant progress in policing its maritime environment, which has directly improved national security and economic growth.

Capt Olanrewaju Oginni

Rear Admiral Oamen explained that Nigeria’s maritime domain is the economic heartbeat of the nation, with oil, gas, shipping, and fisheries accounting for a substantial share of GDP, revenue, and employment.

However, this domain has been historically threatened by piracy, crude oil theft, illegal fishing, and smuggling, forcing the Navy to adopt multi-layer security approaches.

 

“The Navy has launched several operations, including AWATSE, CALM WATERS, TSARE TEKU, WATER GUARD II, and DELTA SANITY, which have drastically reduced piracy incidents.

 

” Data presented showed that Nigeria recorded 48 pirate attacks in 2018, 35 in 2019, 35 in 2020, six in 2021, and none in 2022. By 2023, only two incidents were reported, while just one attempted attack occurred in 2024.

 

Secretary-General,Abuja MoU, Captain Sunday Umoren.

On his part, the Secretary-General of the Abuja MoU, Captain Sunday Umoren, emphasized that while Nigeria has successfully improved maritime security, shipowners and global insurers continue to profit from the war risk premium imposed on vessels calling at Nigerian ports.

 

Umoren described the classification as “unjustified,” saying Nigerians ultimately bear the cost in higher freight charges and increased commodity prices.

 

He noted that Nigeria is strategically positioned as a potential bunkering hub, but unnecessary bureaucratic bottlenecks, slow approvals, and multiple regulations hinder growth in the sector.

 

The Abuja MoU Chief argued that if Nigeria becomes a compulsory stop for vessels to bunker, shipowners would also push for the removal of the premium since they would depend on Nigerian ports.

 

“The Abuja MoU serves as the only platform to inspect foreign vessels trading in Nigerian waters under the Port State Control regime. The MoU aims to prevent substandard ships from trading and ensure maritime safety standards are upheld.

 

Both the Navy and the Abuja MoU agreed that collaboration among maritime stakeholders is key to sustaining progress. They called on the Federal Government, shipping companies, insurers, and international partners to recognize Nigeria’s achievements and adjust policies accordingly.

 

The forum concluded with a strong consensus that Nigeria’s maritime environment is far safer than it was a decade ago, and that sustaining naval operations, removing bottlenecks, and abolishing war risk surcharges are crucial to unlocking the full potential of the nation’s blue economy.

 

The Navy and Abuja MoU urged the Federal Government to provide regular special intervention funds to help maintain naval ships, expand surveillance coverage, and integrate drones for effective monitoring of Nigeria’s vast maritime domain.

 

They also stressed that the issue of war risk premium should not remain a “talk show,” but must translate into concrete action within a year.

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