The Nigerian Agricultural Insurance Corporation (NAIC) and the Bank of Agriculture (BOA) are deepening collaboration to strengthen financial access and insurance coverage for farmers across the country.
NAIC’s Managing Director and Chief Executive Officer, Hon. Yazeed Shehu Danfulani, disclosed this during a courtesy visit to BOA’s Managing Director, Mr. Ayo Sotinrin, at the bank’s headquarters in Abuja.
The meeting centered on boosting agricultural financing, widening insurance penetration, and advancing financial inclusion for farmers, particularly smallholder operators who face significant barriers to credit and risk protection.
Danfulani stressed that aligning the strengths of both institutions is critical to unlocking Nigeria’s agricultural potential.
“Insurance and financing are the twin pillars of sustainable agricultural growth,” he said. “Our partnership with the Bank of Agriculture is designed to integrate these pillars, ensuring Nigerian farmers are protected from risks while equipped with the financial tools they need to succeed.”
He noted that the collaboration would help reduce risks, improve productivity, and strengthen food security, while NAIC continues to adapt its insurance services to meet the evolving needs of farmers.
Danfulani was accompanied by Executive Directors Hon. Abubakar Jarengol and Mr. Ayandayo Babaranti, highlighting NAIC’s commitment to forging strategic partnerships that drive agricultural transformation.
The renewed alliance, according to him, is aimed at building a more resilient, competitive, and inclusive agricultural sector to support national development.
