The Nation Newspaper ‘Agric insurance can generate over $600m premium’
The agriculture insurance market has the potential to generate a premium of over $600 million, the Deputy Managing Director/Chief Operating Officer of African Reinsurance Corporation ,
The dismal performance, he said, is attributed to several factors. They include the non-renewal of the government-supported Anchor Borrowers Programme, the misalignment of businesses by various industry players and the lack of investment needed to help industry players design and develop agriculture insurance products that respond to the needs of farmers and realities of agriculture landscape.
Aghoghovbia said: “In spite of this level of contribution to the GDP, the agricultural sector has been hurt by flooding, desertification of crop and grazing land, conflicts between herdsmen and local farmers, inadequate access to financing and low use of modern technology.“These challenges have stifled the sector’s productivity, and created a huge gap between local food supply and demand leading to increased food imports.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria hosts global agric-tech expoThe Nation Newspaper Nigeria hosts global agric-tech expo
Read more »
Otukpo robbery attack: Onjeh condoles Idoma Nation, families, friends, victimsThe Nation Newspaper Otukpo robbery attack: Onjeh condoles Idoma Nation, families, friends, victims
Read more »
Onjeh Condoles With Idoma Nation, Families Over Otukpo Robbery AttacksThe APC 2023 Senatorial Candidate for Benue South, Comrade Daniel Onjeh, has expressed utter shock and grief over the dastardly chain of armed robbery attacks
Read more »
We‘re committed to reviving nation’s ailing economy — TinubuPresident Bola Tinubu, yesterday, in Minna, Niger State, reiterated his government's commitment to transforming and reviving the nation’s ailing economy and pleaded with Nigerians to bear with his administration, saying 'the hardship will soon be over.
Read more »
Forex crisis: Fed Govt to inject $10b in weeksThe Nation Newspaper Forex crisis: Fed Govt to inject $10b in weeks
Read more »
Ondo Assembly pushes ahead with Aiyedatiwa’s impeachmentThe Nation Newspaper Ondo Assembly pushes ahead with Aiyedatiwa’s impeachment
Read more »