In its resolve to help smallholder farmers mitigate loss of harvests due to poor weather conditions, pest and diseases, Heifer International has announced payment of over N100 million as insurance compensation payout from Leadway Assurance to 3, 110 smallholder rice farmers operating in Benue and Nasarawa states of Nigeria under its pay-at-harvest Area Yield Index Insurance (AYII) project being a component of Heifer’s Naija Unlock Signature Program for Nigeria.
AYII was launched in Nigeria in 2021 by Heifer International in partnership with OLAM, Leadway Assurance and PULA as a solution to mitigate climate change-induced losses among smallholder farmers and restore investors’ confidence in rice farming.
Speaking during the farmers insurance claim payout ceremony held in Makurdi, Benue State, Heifer’s Country Director, Rufus Idris confirmed that a total of 4,358 hectares of farmland belonging to 4,354 smallholder rice farmers in Benue and Nasarawa states were insured during the 2021 wet farming season under the project, among which 3,110 smallholder rice farmers suffered losses due to soil moisture stress.
According to Head Agric and Micro Insurance for Leadway Assurance Limited, an implementing partner for the insurance scheme, Mr. Ayoola Fatona, “today marks a major milestone in the Nigerian Agriculture Insurance space. Leadway wishes to reiterate our commitment to assisting smallholder farmers in guaranteeing the food security of the nation by leveraging on this type of partnership with Heifer International.”
Reji George, Olam’s Vice President for Farming Initiatives added, “Olam is excited about this collaboration with Heifer International and we will remain committed to supporting the growth of smallholder farmers that we do business with as we contribute our quota to transforming Nigeria’s agricultural sector”
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