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The United States Agency for International Development
(USAID) and Nigerian Agricultural Insurance Commission (NAIC) has entered into
partnership agreement that will ameliorate constrains confronting agribusiness
financing and investment activities along the agricultural value chains in
Nigeria.
This event took place
at the NAIC conference room yesterday as the Managing Director, Mrs. Folashade Joseph and the Managing Director/
Chief of Party, USAID- Association for Cultivating New Frontiers in Agriculture
(ACNFA), Dr. Adam Saffer
signed the Memorandum of Understanding (MOU) for effective use by the two
parties.
The MOU is expected to boost agribusiness investment
activity through unhindered finance flows and friendly business environment for
value chains agricultural productivity of various crops and aquaculture in the
five participating states of the USAID –funded project ‘’ Feed the Future’’
which will run for five years in Kebbi, Kaduna, Benue, Delta, Ebonyi and Cross
River.
It was stated that ‘’ the MOU is formalise collaboration
between the Agricbusiness Investment Activity managed by Association of Cultivating
New frontiers in Agriculture (ACNFA) on behalf of USAID Nigeria, and NAIC. By
closely coordinating the effort of the Agribusiness Investment Activity and
NAIC under this MOU, both organizations intend to engage to leverage their
respective resources to address constraints that hamper the growth and
expansion of Nigeria’s agribusiness sector and improve the levels of
agriculture-related finance and investment’’
Meanwhile, Mrs Joseph has enjoined Nigerian farmers to take advantages
of insurance cover of their produce in the year 2020 farming seasons very
seriously as NAIC is ever ready to give them efficient service in case of any
disaster in a properly insured farm thereby enjoining them to make use of weather
forecast as well in their agribusiness activities.
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