Hike in Nigeria shipping costs

Maritime security still…insecure.

Shipping cost to Nigeria increases 60% as pirates’ attacks Continue

Ezekiel Enejeta

Cost of shipping goods to Nigeria has increased rapidly due to rising pirates’ attacks on vessels and crew on Nigerian territorial waters.

The attacks in recent times and the increasing cases of kidnapping of crewmembers of ships coming into Nigeria have made Nigerian waters a war-risk zone for ships and ship owners. The associated risks have further surged the insurance premium on vessels and crewmembers by almost 60 percent, BusinessDay gathers.

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Source: financialwatchngr.com

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