Date / time
01/07/2025
1:00 pm - 2:00 pm
We are delighted to have Edije Sodipo giving an online lecture on “The Emergence of a Sector-Led P&I Insurance Model to Build Local Capacity in Africa’s Largest Oil Economy”. This will take place on 1st July 2025 from 1:00 PM to 2:00 PM and will delve into the growing role of local P&I insurance models within Nigeria’s rapidly evolving maritime sector.
Rather than a government-mandated initiative, the drive to localise aspects of P&I insurance is coming from within the industry — from operators, insurers, and legal experts who recognise the operational risks they face and the benefits of having some control over how those risks are managed. This is about aligning economic stake with insurance responsibility, ensuring that those closest to the exposure also have a say and a share in how that exposure is insured. The approach reflects a pragmatic turn, one grounded in law, in market conditions, and in the real economics of marine risk.
The presentation will trace Nigeria’s journey from inherited legal systems to local authorship and show how the evolution of the oil and gas sector, the rise of indigenous operators, and the creation of the Ministry of Marine and Blue Economy have set the stage for what comes next: a sector-led P&I club that reclaims risk, retains capital, and redefines control. The presentation will include:
– overview of the present legal and regulatory landscape in which insurance operates in Nigeria;
– the inheritance of English law and a move towards domestication to foster local opportunity and growth;
– how government policy has helped to reshape the current legal and regulatory landscape as a tool to economic sustainability and wealth creation in the maritime industry;
– opportunities for collaboration.
About the speaker:
Ejide Sodipo is a highly respected authority in commercial and maritime law in Nigeria and is a well-known authority on Protection and Indemnity mutuals. She initiated Nigeria’s Federal Technical Committee for the establishment of a local P&I Mutual.
Ejide has over 30 years of experience in maritime law and her expertise spans cargo claims, charter parties, international trade, bunker disputes and personal injury. She is the CEO of Pye-M Systems, a consultancy firm specializing in mutual advisory and legal compliance in Nigeria’s maritime and energy sectors.