The Nigerian Agricultural Insurance Corporation (NAIC) is training farmers across the country and sensitizing them on the importance of insurance.
Speaking to newsmen in one of such training in Abuja, the deputy general manager, technical, NAIC, Bashir Martins, assured that farmers insured will receive payment of claims in the event of any disaster.
As Agribusiness is evolving so as many risks are being thrown up, with new participants joining the business of agriculture.
As the risks are on the increase across the value chain, there’s a need to keep sensitizing the farmers and let them know the importance of insurance in business dealings.
For the deputy general manager, General Business and Enterprise Risk Management, NAIC, Innocent Ogbu, the corporation provides insurance cover to all categories of operators, small, medium and large scale across all the agricultural value chains.
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He said so far, the corporation has paid claims to the tune of N1 billion in 2019 and 2020 is likely to surpass 2019 claims.
According to him, the response to insurance from farmers has not been encouraging. That’s why there’s need for more sensitization, as the Nigerian Insurance Act made it mandatory for some farmers to insure especially when their farming activities are linked to some credit facilities by the banks or financial institutions and government intervention programmes.
The purpose of the training is to educate farmers and make them understand how insurance works, how they can access NAIC products and services and how they can process their claims.
(Editor : Paul Akhagbemhe)
