NAIC paid N848 million insurance claims in 2020 ― MD

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4 years ago

The Nigerian Agricultural Insurance Corporation (NAIC) has revealed that it paid the sum of N848 million as insurance claims to its insured farmers in 2020.

NAIC revealed this in a statement from the Office of the Managing Director/CEO of the Corporation, Mrs Folashade Joseph, and signed by its Assistant General Manager (Corporate Services), Magdalene Omosimua.

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

The state further noted that NAIC, since its establishment as an agricultural risk management agency of the Federal Government, has continued to deliver on its major mandates of providing succour to farmers and comfort to financial institutions which lend to participants in the primary agricultural production sector.

“To serve its clients who are located across the country, the Corporation has very experienced and dedicated staff in every state of the Federation and the FCT,” the statement added.

The statement further enjoined agricultural investors and lending institutions to continue to partner with NAIC which it said is committed to the food security agenda of President Muhammadu Buhari and the interventions of the CBN.

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