MIPS Conference



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.


Dr. Bashir Yusuf Jamoh



Tayo Fagbule


BusinessDay Media Ltd.

Frank Aigbogun

 Publisher & CEO,

BusinessDay Media Ltd.

Mr. Dimowo Heaky

Director, Reform Coordination,


Representatives are expected from:

  • Nigerian Maritime Administration and Safety Agency (NIMASA)
  • N igerian Ports Authority (NPA)
  • N igerian Navy
  • Insurance companies
  • Diplomatic corps
  • Nigerian Customs Service
  • Nigeria Police Force
  • Ministry of Defense
  • National Agency for Food and Drug Administration and Control(NAFDAC)
  • Department of State Security (DSS)
  • Nigerian Immigration Service (NIS)
  • Terminal operators
  • Ship owners and operators
  • Maritime Academy of Nigeria
  • State and local governments
  • Law firms and Professional services firms
  • Maritime trade unions
  • Environmental groups
  • Transparency organisations
  • Consultants – planning, environment and economic forecasting
  • Port infrastructure specialists
  • Safety, training and skills bodies
  • Shipping freight companies
  • Transport specialists


9:00 a.m. – 10:00 a.m.


60 mins

10:00 a.m. – 10:05 a.m.

National Anthem and Opening Prayers

5 mins

10:05 a.m. – 10:15 a.m.

Opening Remarks by CEO, BusinessDay

10 mins

10:15 a.m. – 10:45 a.m.

Conference Co-Host Speech by Dr. Bashir Yusuf Jamoh, Director-General, NIMASA

30 mins

10:45 a.m. – 11:00 a.m.

Speech by Nigerian Navy

15 mins

11:00 a.m. – 11:06 a.m.

Goodwill speech by Foreign Mission

6 mins

11:06 a.m. – 11:13 a.m.

Goodwill speech (1) by an Insurance Sector Stakeholders’ Association

7 mins

11:13 a.m. – 11:20 a.m.

Goodwill speech (2) by Maritime Sector Stakeholder Association

7 mins

11:20 a.m. – 11:40 a.m.

Viewing of Documentary on War Risk Insurance and the Nigerian Economy produced by NIMASA

20 mins

11:40 a.m. – 11:50 a.m.

Speech by Federal Ministry of Transportation

10 mins

11:50 a.m. – 12:30 a.m.

Tea Break

40 mins

12:30 p.m. – 12:35 p.m.

Introduction to Afternoon Session by Mr. Dimowo Heaky, Director, Reform Coordination, NIMASA

5 mins

12:35 p.m. – 1:10 p.m.

Keynote Presentation

35 mins

1:15 p.m. – 2:10 p.m.

Panel 1 + Q&A

Mutual Risk: The Challenges and Obstacles to Setting Up a P&I Club for African Shippers

55 mins

2:15 p.m. – 3:10 p.m.

Panel 2 + Q&A

Stubborn Risk: Trends and Forecast for Marine Insurance in the Gulf of Guinea

55 mins

3:10 p.m. – 3:15 p.m.  

Summary and Vote of Thanks by Mr. Tayo Fagbule, Editor, BusinessDay

5 mins

3:15 p.m. – 3:20 p.m.


5 mins