Posts by Ejide Sodipo
The Case for Establishing a Nigerian P&I Club
Nigeria’s recent election back into the Council of the International Maritime Organisation, after 14 years, marks more than a diplomatic milestone. After over a decade outside the world’s most influential maritime decision-making body, the Country has regained a formal voice in shaping global shipping standards, safety norms, and regulatory priorities. Yet, this renewed visibility also raises a more challenging question. Representation in maritime governance is one thing, control over the financial and legal architecture that…
Read MoreBuilding Successful P&I Insurance in Emerging Markets: Lessons from China and Korea
In global shipping, power is often measured in fleets, ports, and cargo volume. But the true determinant of maritime sovereignty lies elsewhere, in the quieter realm of insurance. A nation may move millions of tonnes of cargo, police its waters, and operate modern terminals, but still depend on foreign institutions to price its risk, settle its claims, and define its liabilities. That is the contradiction at the heart of most emerging maritime economies—physical control without…
Read MoreThe Future of P&I Insurance in Emerging Markets: The Viability of Regional Hubs Like Nigeria
A vessel may load crude in Port Harcourt, discharge containers in Mumbai, or bunker in Mombasa. Yet when a collision, oil spill, or injury claim arises, the decision on liability is often made in London. This is the quiet asymmetry of global shipping. Emerging markets now account for much of the world’s maritime activity, yet the financial and legal mechanisms that govern maritime risk remain concentrated in developed economies. Nigeria embodies this contradiction. It is…
Read MoreWhy Nigeria Needs to Become a Maritime Insurance Hub in West Africa
Nigeria is the maritime backbone of West Africa. Its coastline stretches over 850 kilometres and is home to strategically located ports including Apapa, Tin Can Island, Port Harcourt, Onne, Calabar, and Warri. Collectively, these ports handle the majority of regional maritime cargo traffic. In 2022, Nigeria’s ports handled a substantial number of vessel calls, with cargo throughput among the highest in West Africa. This is not an abstract volume; it represents concentrated economic activity dependent…
Read MoreDe-risking Nigerian Maritime Trade: The Case for Local P&I Insurance
In the world of global shipping, insurance isn’t just paperwork; it is infrastructure. It determines who can trade, under what conditions, and at what cost. For Nigeria, a nation whose maritime trade is vital to its economy and whose oil and gas exports define its fiscal health, the lack of a local Protection and Indemnity (P&I) insurance solution has long meant paying the price, both literally and strategically, for relying on foreign systems to cover…
Read MoreHow Can Nigeria’s Blue Economy Ministry Help Build a $1 Trillion Economy?
In 2023, the Nigerian government established the Ministry of Marine and Blue Economy, a long-anticipated step toward harnessing the country’s vast maritime potential. For decades, fragmented oversight had left the sector underutilised despite Nigeria’s 850-kilometre coastline, six port complexes, and positioning along key global shipping corridors. The new ministry signals a shift from passive oversight to active strategy. No serious maritime nation leaves its waters unmanaged. For too long, Nigeria did. Today, Nigeria is aiming…
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