EXCLUSIVE: USAID, NAIC partner on effective agribusiness activity

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.