The Federal Government is to stabilize the national food security system by addressing the risk farmers incur in the agriculture value chain and disasters.
The minister of state for Agriculture and Food Security, Senator Sabi Abdullahi, stated this at a workshop on the implementation of Agriculture Insurance Component of the National Agricultural Growth Scheme-Agro Pocket (NAGS-AP) in Orozo, Abuja.
The government’s commitments to address the risk incurred by farmers is part of its agricultural eco-system.
Farmers in Nigeria have been recording huge losses due to heavy rain, draught and other natural disasters hence the need to incorporate Agricultural Insurance into the National Agricultural Growth Scheme-Agro Pocket program.
The Minister for State, Agriculture and Food Security, Senator Sabi Abdullahi, says it is the objective and responsibility of the Ministry to protect the investment and interventions made by government as well as the financing partner, African Development Bank, via National Agricultural Growth Scheme Agro-Pocket.
This is aimed at addressing the sustainability and security of the local food system, especially with the nations’ growing population.
Senator Sabi further mentioned that the risks had become central issues affecting the government, financiers, and the beneficiary farmers, who stand to lose the most from seasons of bad harvests.
The Minister added that such adverse conditions could wipe out investment and the labour invested in the program, leading to significant food price inflation as being experienced already.
The Chief Executive Officer, Nigerian Agricultural Insurance Corporation (NAIC), Mrs. Folashade Joseph, assured of her readiness to partner with stakeholders in the Agricultural and other sectors of the economy to provide adequate insurance to reducing the risk bedevilling the system, and improve national Agricultural output to attain food security.
An Agricultural Insurance Technology Company and one of the organizers of the workshop, Pula Advisors Limited, noted the frequency and severity of weather incidence and how it affects Agricultural investment and production, and called on all stakeholders to put all hands on deck to expand and address the food security challenges.