IBF rating: Stakeholders expect Nigeria to exit war risk paying countries

By Tola Adenubi | Lagos

Maritime stakeholders have said that the recent removal of Nigeria from unsafe waters list of the International Bargaining Forum (IBF) will lead to the eventual removal of Nigeria from countries paying War Risk Premium on cargoes.

Speaking with the Nigerian Tribune exclusively, Secretary General of the Abuja MoU. Captain Sunday Umoren explained that such feats just don’t happen by accidents.

According to Captain Umoren, “Everything builds up especially when it is positive. This is a positive achievement of the Nigerian Maritime Administration and Safety Agency (NIMASA) under Dr. Bashir Jamoh.

“These international bodies don’t just wake up to do these things. There must have been several factors that have been taken into consideration. Several indices would have been considered before IBF will say Nigeria is out of its unsafe waters list.

“It’s a positive step in the right direction, and if maintained, I see Nigeria exiting the list of countries paying the war risk premium surcharge.”

Also speaking on the IBF ruling, the National President of the Nigerian Association of Master Mariners (NAMM), Captain Tajudeen Alao explained that he expects Nigeria to exit the list of countries paying war risk premium on cargoes if the current momentum is sustained on our waters.

In the words of the NAMM National President, “The journey of a thousand years begins with a step. It is the same shipping groups that have removed Nigeria from its unsafe waters list.

“Although there are processes, I and pray Nigeria meets all the processes. But we are very much right on track. We have been able to suppress insecurity on our waters in the last one year through the collaboration between NIMASA and the Nigerian Navy.

“The international bodies are looking at these feats and the recent IBF action, I think it’s a step by step thing. I foresee Nigeria exiting the list of countries paying war risk premium surcharge if we continue to meet the processes outlined by these international bodies.”