The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending has introduced a new insurance cover for farmers under the 2018 farming season
The agency plans to utilize its $30 million insurance facility to expand agricultural lending across the entire value chain by growing coverage from about 0.5 million to 3.8 million primary producers.
The Managing Director NIRSAL, Aliyu Abdulhameed says the new insurance product is focused on expanding frontiers of innovation in Nigerian agriculture.
The insurance cover will reduce the impact and losses of the yield and market price risk associated with production shortfalls and uncertainties.
When is the time to disburse tje money i will need to expand my farming