MIPS Conference

SEALING NEW PARTNERSHIPS FOR

DE-RISKING SHIPPING IN THE GULF OF GUINEA

July 21, 2022 | 9:00 AM – 4:00 PM | Eko Hotels & Suites, Victoria Island, Lagos

The Marine Insurance, Piracy, and Sea Robbery (MIPS) Conference jointly organised by

BusinessDay Media Limited and Nigerian Maritime Administration and Safety Agency

(NIMASA) will bring together stakeholders within the Maritime sector to discuss trends, and

developments in marine insurance, as well as strategies being applied in the combat

against insecurity in the Gulf of Guinea. This economically important coastline stretches from

Senegal to Angola and covers approximately 5,000 nautical miles.

For years, piracy in the Gulf of Guinea has posed a major threat to crews and vessels

operating in the region. It has also led to a spike in insurance rates charged vessels plying

the region. The domino effect of the insecurity is that the higher shipping costs are

transmitted to the domestic market, producing inflation, and countering efforts to grow

Nigeria’s Blue Economy.

To stem this tide, the Federal Government of Nigeria launched the Integrated National

Security and Waterways Protection Infrastructure, also known as the Deep Blue

Project, in June 2021. In less than a year, the initiative has led to a sharp fall in criminal

activities in Nigerian waters.

Among the topics to be covered at MIPS are:

• Practical steps being taken by Nigerian Maritime Administration and Safety
• Agency (NIMASA) and impediments to the removal of the war risk premium

on Nigeria-bound ships

• The position of insurers on the subject with examples from other regions

adjudged high risk

• The independent assessment of ship owners and charterers on improved

safety in the Gulf of Guinea

• The scorecard of existing regional accords such as the Yaoundé Code of

Conduct, Lomé Charter, and the ECOWAS Integrated Maritime Strategy in

fighting piracy in GoG

• Collaborative efforts among the Nigerian Navy and regional navies
• The role of non-African partners: US, South Korea, Denmark, Norway, the

European Union, etc.

• Diplomatic partnerships to curb piracy
• Management of inter-agency competition.