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Nigerian govt offers farmers 50% insurance cover

The Nigerian Agricultural Insurance Corporation (NAIC) has offered Nigerian Farmers has said it has a 50 per cent premium subsidy of insurance cover for farmers who are registered with them.
The Managing Director of NAIC, Mrs Folashade Joseph disclosed this during a Farmers’ Sensitisation/Training program for farmers at the Abuja, the Nigerian capital.
Mrs Joseph said in this Premium Subsidy, farmers are expected to pay only 50 per cent of the premium, while government pays the remaining 50 per cent.
“NAIC wishes to widen the knowledge horizon of our farmers in the Federal Capital Territory and North Central geopolitical zone in general, especially on the need for them to embrace NAIC insurance for their farms. 
“A unique benefit of NAIC insurance cover to farmers is the premium subsidy, whereby the farmer pays only 50% of the premium while he needs not bother about the balance of 50% which would be paid on his/her behalf by the Federal and State Governments as the case may be. I must emphasize that it is only in the Corporation that such provision is available and nowhere else”, she said.
 
Mrs Joseph who was represented by the Director Business Development of NAIC, Dr Victor Ofovbe urged the farmers to insure their farms with the Corporation so that they could enjoy the package.
 
“To this end, I urge our teeming farmers to insure their various agricultural projects with the Corporation, not only for one season, but continually on yearly basis. 
“By so doing, the Corporation would be in a better position to render the necessary risk management services that would not only keep such farmers in business all year round, but will also stabilize their income and pull them out of the mire of poverty and despondency occasioned by impact of natural perils on their investments”, she said.
 
Speaking generally on farm insurance, Mrs Joseph said realization of food security may not be feasible if agriculture is not properly insured against natural disasters.
 
“To realize the futuristic goal of food sufficiency/security, there is need for the enormous investment channeled to agriculture to be well secured against several perils that are always lurking around agricultural production including those occasioned by global climate change phenomenon.
“The above risk management techniques will complement focused crops management and meticulous animal husbandry  by the farmer.
“As we are all aware, food security is an indispensable aspect of national security, and that is why the Nigerian Agricultural Insurance Corporation (NAIC) has taken it upon itself to carry out this sensitization programme relentlessly for our teeming farmers across various states of the Nigerian federation.
“The Federal Capital territory lies within the vegetation belt that qualifies as the food basket of the nation in all ramifications. This is clear from the diverse agricultural produce coming out of the Area councils in the FCT and its environs which include yam, plantain, banana, guinea corn, maize, cowpea.
“The livestock sector is not left out with production of prime poultry, fish, small ruminants such as pigs, goats, sheep, rabbits, cattle etc”, she added.


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