By Faridat Salifu
The Federal Government has intensified efforts to expand agricultural insurance coverage for millions of smallholder farmers as part of measures to reduce losses from climate-related disasters and strengthen food security.
The move followed a high-level meeting between the Managing Director of the Nigerian Agricultural Insurance Corporation (NAIC), Yazeed Shehu Danfulani, the Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, and the Minister of State for Finance, Taiwo Oyedele.
The discussions centred on improving farmers’ access to affordable insurance products and strengthening risk management measures to protect agricultural producers from floods, drought, pests, diseases and other climate-related threats.
The officials also explored ways to strengthen collaboration between the Ministries of Agriculture and Finance and the NAIC to make agricultural insurance a key component of Nigeria’s agricultural financing system.
They said improving the corporation’s institutional capacity would enhance service delivery, increase confidence in agricultural insurance, attract private sector participation and extend insurance protection to more farmers.
The meeting underscored the Federal Government’s commitment to using agricultural insurance to encourage investment in farming, reduce production risks and improve resilience across the agricultural sector.
Danfulani said the collaboration aligns with President Bola Tinubu’s Renewed Hope Agenda of building stronger institutions capable of driving agricultural transformation and boosting confidence throughout the agricultural value chain.
He added that the corporation is strengthening partnerships with government agencies, financial institutions, regulators and development partners to reposition NAIC as a more responsive institution that meets the needs of farmers.
The meeting ended with a commitment to accelerate reforms, deepen institutional collaboration and strengthen agricultural insurance as a tool for enhancing food security, supporting economic diversification and protecting farmers against growing climate risks.
