Minister Advocates for Stronger Agricultural Insurance in Nigeria

On Tuesday, Sen. Dr. Aliyu Sabi Abdullahi, the Minister of State for Agriculture, called for stronger agricultural insurance in Nigeria during a courtesy visit to Dr. Dori Uzoka Anit, the Minister of State for Finance, in Abuja. Abdullahi emphasized the importance of recapitalizing the Nigeria Agricultural Insurance Corporation (NAIC) to boost farmers' livelihoods and achieve food sovereignty.

He highlighted the need for the agency to build institutional capacity to offer innovative, technology-driven products that can restore public trust and attract private sector investment. Abdullahi pointed out the necessity of expanding insurance coverage for smallholder farmers to mitigate risks associated with climate change disasters.

He also mentioned the importance of considering grant exemptions to enable the agency to operate in line with industry standards. Furthermore, he discussed the need for a revamp of the agricultural ecosystem, including a review of the Nigerian Cooperative Societies Act and the establishment of a national cooperative database and cooperative bank in Nigeria.