Stories by David Agba
Abuja
The Nigerian Agricultural Insurance Corporation (NAIC) has put strategies in place to increase the number of insured farmers from the current two million to as high as five million as soon as possible, NAIC’s Managing Director, Bode Opadokun, has said.
Opadokun, who spoke during a chat
with journalists in Lagos, also informed that the corporation intends to increase its premium income by a minimum of 40 percent during the current year.
He added that “We will increase our share of the general insurance business market with a view to support the required growth of the corporation in terms size and activities.”
During the last one year, Opadokun said NAIC designed and started implementing a new distribution model for agricultural insurance for small scale crop farmers participating in the Growth Enhancement Support Scheme (GESS) of the Ministry of Agriculture and Rural Development, noting that with crops farmers getting a crop insurance cover worth at least N20,000 on their farms for a premium charge of N500, it is expected that at least five million farmers will have insurance protection on their farmlands within a shortest time possible.
Going forward, he said the Corporation’s goal is to continue to play the leadership role in the agricultural insurance and general insurance business through a deep commitment of service excellence to its clientele.
“In achieving this, we intend to gain deeper insights into customer’s specific needs and learn to deliver the relevant products to the right types of customers, at the right price and at the expected level of service. We will therefore continue to review our business process and models in order to build resilience and achieve this laudable goal,” he explained.
