The Nigerian Agricultural Insurance Corporation has said it paid N848m as insurance claims to its insured farmers in 2020.
It said this in a statement titled ‘NAIC pays N848m as claims in 2020’ on Sunday.
The Managing Director/ Chief Executive Officer, NAIC, Mrs Folashade Joseph, stated that in 2019 and the corporation also paid N856m to its insured farmers who suffered losses.
It stated 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 succor 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 Federal Capital Territory.”
It urged agricultural investors and lending institutions to continue to partner with NAIC which was committed to the food security agenda of the Federal Government and intervention of the Central Bank of Nigeria.