The Federal Government of Nigeria says more than 199,000 farmers have received agricultural risk protection worth about ₦700 billion in the last two years as part of efforts to strengthen food production.
The Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this in Abuja. He said the support came through the Nigerian Agricultural Insurance Corporation (NAIC).
Kyari explained that the programme aims to expand agricultural financing, reduce farming risks and attract investment into the sector.
He said the insurance support helps farmers manage production risks caused by climate shocks, pests, diseases and other uncertainties that often threaten agricultural investments.
According to the minister, the initiative strengthens farmers’ resilience and improves confidence in agricultural production across the country.
Insurance Impact on the Sector
Kyari noted that NAIC’s intervention has also boosted activity in the agricultural insurance industry.
He said the programme generated about ₦2.43 billion in premium income and paid roughly ₦200 million in claims to farmers who suffered losses due to production risks.
Other Government Interventions
The minister said the initiative complements other federal government programmes aimed at increasing agricultural productivity.
He listed the distribution of more than 1.9 million bags of fertiliser to farmers, the introduction of improved crop varieties and the expansion of mechanisation services.
Kyari added that the government is investing in agro-processing infrastructure while strengthening partnerships with development organisations and foreign governments.
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He explained that the partnerships focus on boosting fertiliser production, facilitating technology transfer and improving regulatory compliance in the agricultural sector.
“These measures will strengthen agricultural value chains, attract private-sector investment and position Nigeria as a major player in global agricultural markets,” Kyari said.
He added that better access to finance, insurance and modern inputs would enable farmers to expand operations and move from subsistence farming to commercially viable agribusiness.
Kyari also noted that the government continues to leverage institutions such as the Bank of Agriculture, the Nigerian Agricultural Insurance Corporation and the National Agricultural Development Fund to support farmers and agribusinesses nationwide.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
