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Can Nigeria Stem Its $1.5 Billion Losses to Foreign Marine Insurers?

By Ejide Sodipo | April 20, 2025

Nigeria has lost over $1.5 billion to foreign marine insurers in just three years. That’s not a projection. It is an official figure from a March 2025 statement by the Nigerian Maritime Administration and Safety Agency (NIMASA), pointing to the scale of outflows from shipping risks placed entirely abroad. Marine…

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The Ship of Nigeria’s Nascent Blue Economy Weighs its Anchor

By Ejide Sodipo | February 27, 2024

The Depth of the unexplored is always a subject that piques the interest of mortal man. In Nigeria, the Blue Economy is as deep and vast as the ocean depths. And like the ocean, it is calm, untouched, unexplored, underutilised. It’s an economic ecosystem in itself that lies forlorn begging…

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Recent Posts

  • Financed in Nigeria, Protected Abroad: The Hidden Cost of Ship Insurance
  • Sovereignty at Sea: Why Nigeria must reclaim control of its Maritime risk
  • Nigeria’s Marine Insurance Gap: Why Market Creation Beats Market Entry
  • Sandboxed to Scalable: Nigeria’s Next Insurance Investment
  • The P&I Mutual Problem: How the New Insurance Nigerian Law Created, and Solved, Its Own Conflict
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