NAICB Target 15million Farmers for Crop, Livestock Insurance

 

Dr. Akinwumi Adesina
Hon. Minister of Agriculture

 

Farmers nationwide will begin to benefit from the Nigerian Agricultural Insurance Company’s (NAIC) N5 billion, to support both crops and livestock farmers. The fund will provide support for its reforms, strengthen its operation, and roll out agricultural insurance products.

This intervention targets 15 million farmers across the country for three years.

The regional director south-west Mr. Olalekan Quadri, who represented the Hon. Minister of Agriculture and rural development, made this known in the Lagos rural HQ. The Hon. Minister restated the need to reposition the company for improved risk management in agricultural investment and the other effects of climate change. Reminiscing on the 2012 flood, the Hon. Minister said the incident was a wakeup call for the government, resulting in the flood recovery and food production policy that saved the country from what could have been a famine. He further directed that NAIC should have a global outlook and standard. The new MD/CEO, Mr. Bode Opadoku, is saddled with the responsibility of repositioning the company to ensure flawless and efficient management services to farmers and other agro-related players in the sector. The Director also announced the approval of the sum of N1 billion for the reform and restructuring of the company.