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Nigeria urges insurers to remove war risk premiums on inbound shipments


Bashir Jamoh, director general of the Nigerian Maritime Administration and Safety Agency, has urged Lloyd’s of London and worldwide insurers to stop charging war risk insurance surcharge on Nigeria-bound cargo, as the country has taken noteworthy efforts to curb pirate attacks on its territorial waters, Leadership reported. Imposition of war risk premium on Nigeria-bound shipments increases the cost of goods, hurting the economy, he said.


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