Cargo insurance premiums spike over untidy road access, seaport operations | The Guardian Nigeria News

Trucks parked on the road side waiting to get access into Tincan port in Apapa, Lagos. (Photo by Benson Ibeabuchi / AFP)

• Insurers groan under huge claims obligation
Beyond additional costs incurred by Nigerian importers and exporters due to safety concerns in the Gulf of Guinea (GoG), operational and infrastructural challenges at the nation’s ports and access roads have continued to push insurance firms underwriting cargoes to the edge.

These have made them adjust clauses, and in many cases, spike the cost of cargo insurance by the average number of days delays occur.

The sum insured for specific transit

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