By Faridat Salifu
The National Insurance Commission (NAICOM) has called for stronger collaboration with the Federal Ministry of Agriculture and Food Security to expand agricultural insurance coverage and protect farmers against production risks nationwide.
The call was made by the Commissioner for Insurance and Chief Executive Officer of NAICOM, Olusegun Omoseyin, during a recent courtesy visit to the ministry in Abuja.
Omoseyin said the engagement was aimed at deepening institutional synergy and aligning insurance frameworks with the Federal Government’s food security agenda.
He said the enactment of the Nigerian Insurance Industry Reform Act (NIIRA 2025), which introduces a new regulatory architecture for the insurance sector, makes it necessary to strengthen all insurance services, including those of the Nigerian Agricultural Insurance Corporation (NAIC).
Responding, the Minister of State for Agriculture and Food Security, Aliyu Sabi Abdullahi, reaffirmed the ministry’s commitment to partnerships that protect farmers from losses linked to climate change, pests, diseases and other unforeseen risks.
Abdullahi said agricultural insurance is essential for boosting farmers’ confidence, improving access to credit and ensuring sustainable food production.
He added that closer collaboration between NAICOM and the ministry would expand insurance penetration among smallholder farmers, increase awareness, and strengthen the delivery of government agricultural programmes.
The meeting resolved to establish a technical framework to streamline operations, improve data sharing and promote innovative insurance products tailored to the needs of Nigerian farmers.
