{"id":13324,"date":"2025-08-28T08:37:16","date_gmt":"2025-08-28T08:37:16","guid":{"rendered":"https:\/\/psmnigeria.org\/?p=13324"},"modified":"2025-08-28T08:39:00","modified_gmt":"2025-08-28T08:39:00","slug":"nigerian-navy-faces-%e2%82%a625-2-billion-annual-bill-to-keep-warships-afloat","status":"publish","type":"post","link":"https:\/\/psmnigeria.org\/?p=13324","title":{"rendered":"Nigerian Navy Faces \u20a625.2 Billion Annual Bill to Keep Warships Afloat"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Nigerian Navy has revealed that it requires about <strong>\u20a61.2 billion annually to keep a single warship operational<\/strong>, highlighting the enormous funding gap confronting the force in securing Nigeria\u2019s maritime domain.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the Flag Officer Commanding, Western Naval Command, <strong>Rear Admiral Gregory Oamen<\/strong>, the Navy has acquired 21 new vessels in the last decade, but sustaining them at sea demands an estimated <strong>\u20a625.2 billion each year<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This revelation comes at a time when Nigeria spends nearly <strong>$400 million annually on War Risk premiums<\/strong> to foreign insurers, with shipowners also paying additional surcharges of between $1,000 and $2,000 daily once vessels cross five degrees east of Lagos waters.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speaking at the <strong>third annual maritime lecture<\/strong> of the Maritime Reporters Association of Nigeria (MARAN), themed <em>\u201cAddressing the Burden of War Risk Insurance Surcharge on Nigerian Maritime Trade \u2013 A Case for Review\u201d<\/em>, Oamen\u2014represented by <strong>Captain O.O. Oginni<\/strong>, Commanding Officer of NNS Thunder\u2014described the current level of naval coverage as \u201cgrossly inadequate\u201d for Nigeria\u2019s expansive waters.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He explained that the NNS Thunder alone, with a fuel capacity of 891,000 litres, costs about <strong>\u20a61.2 billion to put to sea once a year<\/strong>, stressing that logistics remain the Navy\u2019s biggest challenge despite government interventions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Statistics presented showed that in <strong>2022, naval patrols covered over 36,600 hours at sea<\/strong>, resulting in the arrest of 191 suspects, while 80 others were arrested in 2023. Between 2015 and 2021, the Navy handed over <strong>333 vessels involved in maritime infractions<\/strong> to the appropriate authorities, achieving several successful piracy prosecutions under the SPOMO Act.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nigeria\u2019s maritime sector, Oamen noted, is of strategic importance, with a coastline of 420 nautical miles and an Exclusive Economic Zone (EEZ) spanning 84,000 square nautical miles. The EEZ holds <strong>37.2 billion barrels of crude oil (2.9% of global reserves) and 182 trillion cubic feet of gas<\/strong>, making maritime security vital to national survival.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Maritime trade also accounts for <strong>86% of Nigeria\u2019s external trade<\/strong>, with oil and gas contributing <strong>40% of GDP and 83% of government revenue<\/strong>. Encouragingly, improved security has boosted weekly ship calls at Nigerian ports from 123 in 2021 to 145 in 2023, while fishing GDP rose from \u20a612 billion to \u20a615 billion within the same period.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Oamen therefore urged the Federal Government to establish a <strong>special intervention fund<\/strong> to help the Navy maintain at least four vessels per command daily, strengthen backwater surveillance, and expand drone integration into its Falcon Eye maritime monitoring system.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Former NIMASA Director-General, <strong>Temisan Omatseye<\/strong>, also stressed that despite Nigeria\u2019s piracy-free status in recent years, the <strong>London-based Joint War Risk Committee (JWC)<\/strong> still imposes War Risk premiums on vessels operating in Nigerian waters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian Navy has revealed that it requires about \u20a61.2 billion annually to keep a single warship operational, highlighting the enormous funding gap confronting the force in securing Nigeria\u2019s maritime&hellip;<\/p>\n","protected":false},"author":6,"featured_media":12265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pages"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nigerian Navy Faces \u20a625.2 Billion Annual Bill to Keep Warships Afloat -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/psmnigeria.org\/?p=13324\" \/>\n<meta property=\"og:locale\" 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