NIMASA Foils Piracy Attempt in Gulf of Guinea as Stakeholders Renew Calls to Scrap War Risk Insurance Premiums

The Gulf of Guinea, long notorious as a hotspot for piracy, once again drew global attention when the Nigerian Maritime Administration and Safety Agency (NIMASA) confirmed that its assets had successfully foiled an attempted attack on a merchant vessel. The swift intervention, supported by the Nigerian Navy, prevented what could have been another setback in the fight against maritime insecurity.

For Nigeria and the wider West African subregion, this was not just another security triumph—it was a validation of years of investment in maritime safety. But even as NIMASA celebrated this success, maritime stakeholders renewed their call for international underwriters to scrap the war risk insurance premiums still levied on vessels calling at Nigerian ports.

The Weight of an Outdated Label

At the peak of piracy in 2020 and 2021, vessels were compelled to pay between $50,000 and $150,000 extra per voyage as war risk surcharges. These costs trickled down into Nigeria’s economy, raising shipping costs and inflating the price of essential goods.

Today, reported incidents have plummeted. According to the International Maritime Bureau (IMB), piracy in the Gulf of Guinea dropped to its lowest in a decade, thanks to regional collaboration and Nigeria’s Deep Blue Project, which deployed surveillance aircraft, armed vessels, and land-based command centers.

Yet the war premium remains. “This premium has outlived its purpose. It is no longer a reflection of the current security reality in the Gulf of Guinea,” said Dr. Charles Ikenna, a maritime economist, in Lagos. “What we are seeing is not risk mitigation anymore but economic exploitation, and Nigeria must push harder diplomatically to end it.”

Voices from the Sea

For ship captains, the progress is tangible. Captain Joseph Adewale, who has navigated Nigerian waters for over 20 years, recalled:

“There was a time when we sailed in fear. You could feel the tension among the crew once we entered the Gulf. Now, with the patrols and surveillance, the waters feel safer than in years past. The fact that this attempted attack was foiled before it escalated shows the difference. But why should my vessel still be charged like we are entering a warzone? It is unfair.”

Another seafarer, a foreign captain who requested anonymity, offered a global perspective:

“I’ve sailed the Gulf of Aden, Southeast Asia, and the Gulf of Guinea. The improvements in Nigeria are real, but insurers are always slow to react. They keep charging as if nothing has changed. It hurts trade, and it hurts the people importing goods.”

NIMASA’s Position

NIMASA officials maintain that Nigeria has earned the right to demand the removal of the premium. Speaking on the incident, Dr. Dayo Mobereola, Director General of NIMASA, emphasized:

“What we have achieved in reducing piracy is recognized globally, even by the IMB. The Gulf of Guinea is no longer what it was three years ago. We will continue to work with our partners to maintain security, but it is time for international underwriters to acknowledge this progress and stop penalizing vessels coming to our ports.”

The Bigger Picture

Industry operators echo this frustration. Mrs. Amina Yusuf, a freight forwarder at Apapa Port, noted that the surcharge increases import costs and worsens inflation:

“Every dollar added to shipping is passed down to us and, eventually, to ordinary Nigerians buying goods in the market. Removing this premium will make Nigeria more competitive and bring relief to consumers.”

The foiled piracy attempt, therefore, represents more than a single security success. It symbolizes a turning point where Nigeria’s efforts demand global recognition. The maritime industry argues that continuing to label the Gulf of Guinea as a high-risk war zone does not just undermine Nigeria’s achievements—it undermines global shipping fairness.

As one industry observer reflected: “The battle is no longer against pirates on the sea. The new battle is against outdated perceptions that keep Nigeria chained to a reputation it has worked hard to shed.”

With the latest incident now behind them, stakeholders believe the time has come for the world to not only applaud Nigeria’s progress but also to match it with action—by lifting the war risk insurance burden.