The high cost of food in the nation has been attributed by the Nigerian Maritime Administration and Safety Agency to the cost of war-risk insurance on ships and cargoes traveling to Nigeria.
Dr. Bashir Jamoh, the Director General of NIMASA, pleaded with major insurance companies all over the world to stop collecting premium on ships and cargo headed for Nigeria when he made this recent statement in Port-Harcourt.
The high cost of goods on the market was a result of such insurance premiums, which are a punishment for the lack of security we had back then regarding our waters.
Therefore, the global community will be rewarding Nigeria for its success in the fight against piracy through the creative Deep Blue project.