Nigeria’s leading underwriter, Leadway Assurance Company Ltd. said, on Thursday, it is collaborating with Corporate Farmers International in the South-West region to boost agricultural practice and meet farmers’ insurance needs.
The Senior Agriculture and Micro-Insurance Specialist of the insurance company, Mr Oluwaseun Fasoranti, in a statement made available in Lagos, said that the firm hosted not less than 100 farmers in an interactive session.
Corporate Farmers International is an agriculture-focused organisation that promotes sustainable farming practices, knowledge sharing, and community-building among farmers, with the aim of empowering them with needed tools and resources.
Fasoranti stated that the conversation during the interactive session included risk management, sustainable farming practices, financial planning, agribusiness development, fostering a vibrant community, partnerships, and leveraging technological advancements for growing productivity.
He said the session brought together farmers, industry experts and critical stakeholders across the agriculture value chain to discuss pivotal issues around modern farming practices, challenges and diverse opportunities.
The Leadway officer noted that the insurer was aware of the indispensable role farmers’ played in the advancement of the economy, hence, the initiative aimed at fostering relationships and exchanging innovative ideas for the growth of the Agriculture Sector.
“According to a report by the minister of agriculture in February, agriculture contributes 23.78 per cent to Nigeria’s Gross Domestic Product (GDP).
“This noble responsibility comes with immense challenges, uncertainties and events, such as droughts, floods, post-harvest losses, and pest invasions, which continually threaten to stifle its growth every production season,” Fasoranti said.
Also, the Head of Agriculture Insurance of Leadway Assurance, Mr Ayoola Fatona, said that the partnership aligned with the firm’s mission of working closely with farmers in these unprecedented times.
Fatona stated that the session was a platform to listen, engage and proffer actionable solutions to farmers’ diverse pain points.
He said, “Leadway’s agriculture insurance policies have and will continuously be curated to meet these imminent needs.
“Leadway agriculture policies are not mere contractual documents but reliable promises to provide a safety net in the event of unexpected weather patterns or unforeseen circumstances.
“By focusing on your protection, we hope to foster an environment where you can continue to do what you do best – feed our nation, without the constant worry of losses bothering your productive minds.
Responding, a Co-founder, Corporate Farmers International, Mr Akin Alabi, said that the interactive session with Leadway complemented its mandate of empowering farmers, especially in the face of the growing challenges in the sector.
Alabi stated that with Leadway’s reputable financial and risk management expertise and corporate farmers’ superior understanding of the Nigerian agricultural value chain, the farmers would be equipped with the required tools to thrive in the evolving agriculture landscape.
Leadway Assurance is a provider of insurance solutions, offering a wide range of products and services to individuals and businesses.
