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By agronigeria - December 5, 2017
folashade Joseph NAIC MDThe Nigerian Agricultural Insurance Corporation (NAIC) has said the Federal Government will be subsidising farmers’ insurance in the agricultural value chain by 50 per cent.

The Managing Director of NAIC, Folashade Joseph, who disclosed this in Abuja, enjoined farmers to take advantage of this gesture by insuring their farms against natural disasters such as flood, diseases and erosion.

She noted that many farmers were yet to take up agriculture insurance and said the corporation would soon embark on a sensitization exercise where forums would be used to educate farmers on the importance of such insurance.

Joseph described the 50 per cent subsidy from government across the agriculture value chain as a laudable move as it will help farmers insure their farms and remain in business even in the aftermath of natural disasters.

“Government has subsidised insurance for farmers by 50 per cent. For instance, for crops, if you are to pay a premium of N4, NAIC will charge farmers N2. The cost should be taken care of by insurance companies and that is what NAIC stands for.

We exist so that farmers can smile. We de-risk the natural disasters of farmers across the value chain. That is what will sustain the farmer across the agriculture value chain. It is the focal point of the government and insurance is very key,” she said.

The NAIC boss, recounting how some farmers incurred losses after their tomato farms were attacked by tomato Ebola, urged farmers not to regard agriculture insurance as an additional cost but something that they must have in place to protect their investments.
https://agronigeria.com.ng/fg-subsidises-farmers-insurance-50-per-cent/

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2nd Floor Bank of Industry Building 
18 Muhammad Buhari Way, Kaduna, Nigeria. 
Mobile: +234 (803) 3174409...................sssss