Over 199,000 Farmers Benefit from Government Risk Insurance

The Federal Government of Nigeria has announced that nearly 200,000 farmers across the country now have access to agricultural risk protection aimed at safeguarding their livelihoods and boosting food production. The government-backed insurance programme has provided a total risk cover valued at about ₦700 billion over the past two years, supporting 199,275 farmers.

Speaking at a recent stakeholders’ meeting in Abuja, the minister highlighted that this initiative is part of broader efforts to make farming more resilient to unpredictable challenges such as climate shocks, pests, and market disruption. The National Agricultural Insurance Corporation’s work has helped generate insurance premium income and pay out claims to farmers impacted by losses.

In addition to insurance support, the government has introduced a ₦250 billion facility through the Bank of Agriculture to give smallholder farmers access to affordable credit at single-digit interest rates. This financial backing is expected to enable farmers to purchase inputs, access modern equipment, and improve productivity.

These measures are central to the government’s strategy to enhance agricultural productivity, strengthen food security, and improve the overall economic well‑being of rural communities. The programmes also include broader agricultural support efforts, such as fertilizer distribution and other inputs, while aiming to transition Nigeria’s farming sector toward more commercially driven operations.