• April 17, 2021

#Partnership: NAIC, AFAN Collaborate To Provide Insurance For 40m Farmers Against Flood, Other Unforeseen Disasters

(AGENDAWATCHDOG) – The Nigerian Agricultural Insurance Corporation (NAIC) will be partnering with All Farmers Association of Nigeria (AFAN) to provide cover for over 40 million farmers across Nigeria threatened by flooding and other natural disasters, according to the Managing Director of NAIC, Mrs Folashade Joseph.

Joseph disclosed this a meeting in Abuja with AFAN on Friday, where she said that the move became pertinent to shield farmers from loses occasioned by flooding and other unforeseen disasters, adding that towards achieving its set objective, NAIC had already worked out a modality that would ensure farmers, particularly smallholder farmers, were able to pay affordable premium.

Speaking further, the managing director said that part of NAIC’s effort to help farmers mitigate effect of losses was the annual sensitisation programmes organised to discuss the importance of insurance, and that the target of NAIC was to give effective insurance cover to at least 10 million farmers, majority of whom do not have access to credit, adding that the insurance cover will be such that the guarantee given by the corporation would secure them during disaster of any sort.

POTENTIAL IMPACT: The partnership will be of immense benefit to vulnerable small holder farmers whose investments are self-funded and vulnerable to the effects of nature and climate change, as the insurance of their produce will provide succor in times of disaster.

Agenda Watchdog

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