NAIC pays N848 million to farmers as claims last year

The Nigerian Agricultural Insurance Corporation (NAIC) has revealed the payment of Eight Hundred and Forty Eight Million (N848, 000,000.00) as insurance claims to its insured farmers in the year 2020. This was contained in a press statement made from the Office of the Managing Director/CEO of the Corporation, Mrs. Folashade Joseph, and signed by the Assistant General Manager, Mrs. Magdalene Omosimua. 

It was also stated that in 2019 the Corporation equally paid the sum of N856 million to its insured farmers who had suffered losses.

NAIC, said that since its establishment as an agricultural risk management agency of the Federal Government (FG) has continued to deliver on its major mandates of providing succour to farmers and other financial institutions that lend to participants in the primary agricultural production sector.

The statement assured all its customers efficient service delivery with availability of very experienced and dedicated staff in every state of the federation and the Federal Capital Territory (FCT). 

Mrs. Joseph in the statement also enjoined agricultural investors and lending institutions to continue to partner with NAIC which is totally committed to the food security agenda of His Excellency, President Muhammadu Buhari and the noble interventions of the Central Bank of Nigeria ( CBN) under the able leadership of its Governor, Dr. Godwin Emefiele.