Nigeria’s Minister of State for Agriculture and Food Security, Dr. Aliyu Sabi Abdullahi, has underscored the need for strategic partnerships to accelerate growth in the country’s agricultural insurance ecosystem.
Dr Abdullahi said that stronger collaboration would drive policy alignment, deepen reforms, promote inclusivity, and create an enabling environment for enhanced productivity and economic opportunities.
The Minister made this disclosure during the courtesy visit by the National Insurance Commission (NAICOM) delegation led by the Chief Executive Officer, Mr Olusegun Omosehin, held in Abuja, Nigeria’s capital.
Dr Abdullahi stated that “the collaboration aims to accelerate reforms, particularly by leveraging the Nigerian Insurance Industry Reform Act (NIIRA) 2025 to modernise the sector and provide an enabling environment for economic opportunities and productivity in the agricultural sector.’
He said that the partnership would facilitate data-driven solutions through the Ministry’s Data Analytics to support index insurance and enhance food security.
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Dr Abdullahi also said; “insurance for cooperative societies was essential, in line with global best practices, this must be done without losing the cooperative identity regarding its value in terms of integrity, governance, among others.”
The Minister explained that “Studies have shown that most of the countries that have stable economic performance actually have very viable cooperatives’’.
He said that “the Renewal Hope Agenda of President Tinubu is clear- to improve governance, every sector should harmonise policies.’’
Dr Abdullahi stated that the meeting was a milestone event and that it would strengthen collaboration with the commission.
According to him ‘’ the ministry required a strong technical working relationship with NAICOM to transform the food system, we are looking at having a Memorandum of Understanding between the Ministry and NAICOM regarding Nigerian Agricultural Insurance Corporation (NAIC) and cooperative reform.’’
In his remarks, NAICOM, the Chief Executive Officer, Mr Olusegun Omosehin stated that the initiative aligned with the administration’s agenda on peace, security and economic stability.
Omosehin pointed out that NAIC is the country’s specialised agricultural insurer and is under the ministry’s purview.
According to him, ‘’NAIC plays a fundamental role in protecting smallholder farmers and strengthening food security resilience.
He stressed that “the visit is basically to reveal our partnership to align policies in the agricultural space, such that we can jointly elevate NAIC to a level that it can deliver on its mandate.”
Source: VON – https://von.gov.ng/minister-seeks-strategic-partnership-to-boost-agricultural-insurance-growth/
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