Part A: SECTOR NEWS
IMO Secretary -General visits Nigeria, commends Maritime Security Gains, Deep Blue Project, and Blue Economy Policy
The Secretary General of the International Maritime Organization (IMO), Mr. Arsenio Domínguez, has praised Nigeria's maritime achievements, highlighting its three - year streak of zero piracy incidents and the success of the Deep Blue Project as a model for regional cooperation in the Gulf of Guinea. He commended Nigeria's investment in maritime safety infrastructure and its Blue Economy Policy, which promotes sustainable marine resource development. Mr. Domínguez also reaffirmed the IMO's support through technical assistance, training, and capacity - building, while urging continued investment in modern equipment and readiness for global challenges like energy transition and biofuel adoption.
To enforce this, NIMASA has issued a Marine Notice outlining obligations, and will intensify monitoring and enforcement efforts, while collaborating with industry stakeholders. The move reflects Nigeria's commitment to safeguarding its marine environment and promoting sustainable shipping practices. It also signals a stricter regulatory oversight for maritime operators, with a view to meeting emission standards.
Nigeria Unveils Marine Logistics and Blue Economy Policy
The Nigerian government has unveiled a comprehensive National Marine Logistics and Blue Economy Policy aimed at transforming the country into a regional logistics hub for West and Central Africa. Announced at the 2025 TCAN Annual Summit, the policy seeks to reduce logistics costs, enhance trade competitiveness, and attract private sector investment in the transport and maritime sectors. It promotes seamless intermodal integration across road, rail, barge, and pipeline systems, with key infrastructure interventions including the Lagos – Ibadan Standard Gauge Rail, expansion of barge operations at Lagos and Onne ports, completion of the Apapa –Oshodi Expressway, and commissioning of the Lekki Port Access Road. Inland dry ports in Ibadan, Kaduna, Kano, and Funtua are also being developed to ease pressure on seaports and support regional economies.
For business operators, the policy presents significant opportunities and implications. It promises a more efficient logistics environment, potentially lowering operational costs and improving turnaround times. The emphasis on digital, green, and climate -resilient logistics solutions aligns with global sustainability trends, encouraging innovation and compliance with emerging standards. Businesses in logistics, infrastructure development, and maritime services stand to benefit from increased investment and a more integrated transport system.
Nigeria Starts First Domestic Container Shipping Line
Nigeria has launched its first fully indigenous container shipping line,a Clarion Shipping West Africa, marking a significant milestone in the country's maritime sector. The inaugural vessel, Ocean Dragon, arrived at Tin Can Island Port in Lagos after a 60- day voyage from China. Though registered in Panama, the ship boasts a 70% Nigerian crew, with plans to increase local participation. With a capacity of 349 TEU, the vessel will initially serve domestic routes between Nigerian ports, offering faster and more cost - effective transport compared to road logistics. The company aims to expand its service across West Africa, including Benin, Togo, Ghana, Cameroon, Sierra Leone, and Ivory Coast, with future plans for routes to South Africa and Egypt. It is also advocating for stricter enforcement of cabotage laws to protect local operators and support the domestic maritime economy.
By positioning itself as a local alternative to global giants like Maersk and MSC, Clarion hopes to reduce reliance on transshipment and strengthen regional trade. The initiative also promotes enforcement of cabotage laws and positions Nigeria for greater regional trade competitiveness.
Tinubu to Inaugurate $400m Crude Oil Export Terminal in Rivers State
President Bola Tinubu is set to inaugurate the $400 million Otakikpo Onshore Crude Oil Export Terminal in Rivers State, the first new crude export facility built in Nigeria in over 50 years. Developed by Green Energy International Limited (GEIL), this wholly indigenous owned terminal is located in Ikuru Town, Andoni LGA, and is designed to address longstanding evacuation challenges in the oil sector. With an initial storage capacity of 750,000 barrels, expandable to 3 million barrels, and a loading capacity of 360,000 barrels per day, the terminal is expected to serve over 40 stranded oil fields, unlocking millions of barrels of previously inaccessible crude
The project is seen as a strategic move to boost crude oil production, reduce operational costs, and restore investor confidence in Nigeria's oil industry, which has faced issues like pipeline vandalism, oil theft, and declining output. It also marks a significant milestone in indigenous participation in the energy sector.
First LNG - powered Containership, MV Sapphire, Berths at APM Terminals :
The berthing of MV Sapphire , Nigeria's first LNG - powered containership, at APM Terminals Apapa marks a major milestone in the country's maritime and sustainability journey. Built in 2024 and sailing under the Singapore flag, the vessel has a capacity of 7,800 TEUs and features advanced LNG propulsion technology. Its arrival is seen as a symbol of progress, cost efficiency, and environmental responsibility, aligning with global efforts to reduce carbon emissions and support the UN Sustainable Development Goals.
The initiative supports Nigeria's goal of becoming a hub for green shipping in West Africa, with expectations that sister vessels will follow. It also reflects growing collaboration among shipping lines to meet international climate targets and drive economies of scale through sustainable practices.
Nigerian Maritime Administration and Safety Agency (NIMASA) Orders Compliance of Ships Operating on Nigerian Waters
The Nigerian Maritime Administration and Safety Agency (NIMASA) has directed all ships operating within Nigerian waters to strictly comply with MARPOL Annex VI, a global convention aimed at preventing air pollution from ships. This directive, backed by Nigeria's Merchant Shipping Act of 2007 , mandates shipowners, charterers, and shipping companies to reduce harmful emissions such as sulphur and nitrogen oxides. NIMASA's Director General, Dr. Dayo Mobereola , emphasized that compliance is non- negotiable as Nigeria aligns its maritime operations with international environmental standards.
To enforce this, NIMASA has issued a Marine Notice outlining obligations and will intensify monitoring and enforcement, while collaborating with industry stakeholders. The move reflects Nigeria's commitment to safeguarding its marine environment and promoting sustainable shipping practices. It also signals stricter regulatory oversight for maritime operators, with potential implications for operational costs and vessel retrofitting to meet emission standards.
PART B: LEGISLATIVE UPDATE
THE NIGERIAN INSURANCE INDUSTRY REFORM ACT 2025 (NIIRA) : A REVIEW
Introduction
For several decades, marine insurance in Nigeria was governed by the Marine Insurance Act (MIA) (Cap M2 LFN 2004 ), which was adapted from the Marine Insurance Act of 1906.1 The MIA was generally a comprehensive statutory framework that seemed to serve the insurance community adequately. However, concerns arose regarding the fairness of certain absolute provisions, especially those relating to the duty of good faith and warranties, as those provisions enabled insurers to escape liability even for minor breaches, thereby appearing to prejudice policyholders.
This prompted significant reform through the enactment of the Insurance Act of 2015 in the United Kingdom (UK) to address some of the inadequacies of the former statute.
On 5 August 2025 , Nigeria followed suit when President Bola Tinubu signed the Nigerian Insurance Industry Reform Bill into law. Part XIV of the new Nigerian Insurance Industry Reform Act (NIIRA) governs marine insurance. In this short piece, we consider the innovations introduced by the new statute.
Key Reforms Under The NIIRA 2025
A. The Duty of Fair Presentation
Section 131 of the NIIRA 2025 replaces the absolute duty of good faith with the duty of fair presentation of the risk, which only requires the insured to exercise "reasonable care " when disclosing material circumstances. The insured is required to disclose all material circumstances that they know or ought to know in a manner that is reasonably clear and accessible to the insurer.
Under the repealed Marine Insurance Act, the principle of utmost good faith (uberrimae fidei) imposed an absolute and severe duty on the insured 2 to disclose all material facts to the risk to be undertaken. Any failure to disclose a material circumstance, whether innocent, accidental, or fraudulent, entitles the insurer to avoid the contract ab initio, thereby escaping liability and potentially resulting in the forfeiture of premiums.
The new regime creates a more equitable framework, as this lowers the risk of major insurance claims being jeopardised solely on the basis of non-fraudulent, technical or minor errors made during policy placement.
To view the full article click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.