The Nigerian Agricultural Insurance Corporation (NAIC) paid N848 million as insurance claims to its insured farmers in 2020, the company’s Managing Director, Mrs Folashade Joseph, said.
She stated that the corporation paid N856m to its policyholders who suffered losses in 2019.
“NAIC, since its establishment as an agricultural risk management agency of the Federal Government, has continued to deliver on its major mandates of providing succor to farmers and comfort to financial institutions which lend to participants in the primary agricultural production sector.
“To serve its clients who are located across the country, the corporation has very experienced and dedicated staff in every state of the federation and the Federal Capital Territory, ” she said.
The management of the corporation urged agricultural investors and lending institutions to continue to partner with NAIC, stressing that the organisation is committed to the food security agenda of the Federal Government and intervention of the Central Bank of Nigeria.
