NAIC, BOA partner to deepen farmers’ access to finance

The Managing Director and Chief Executive Officer of the Nigerian Agricultural Insurance Corporation, Honourable Yazeed Shehu Danfulani, has reaffirmed his commitment to strengthening Nigeria’s agricultural sector through deeper institutional collaboration.

Danfulani stated this during a courtesy visit to the Managing Director of the Bank of Agriculture, Mr Ayo Sotinrin, at the bank’s headquarters in Abuja.

The high-level meeting focused on expanding cooperation between the two institutions to boost agricultural financing, widen insurance coverage and enhance financial inclusion for farmers nationwide.

According to Danfulani, closer collaboration between NAIC and BOA is vital to unlocking the full potential of the country’s agriculture.

He said such synergy would ensure that farmers, particularly smallholders, gain easier access to credit backed by reliable insurance products — a combination he described as key to reducing risks, increasing productivity and strengthening food security.

“Insurance and financing are the twin pillars of sustainable agricultural growth,” he said.

“Our partnership with the Bank of Agriculture is designed to integrate these pillars, ensuring that Nigerian farmers are protected from risks while empowered with the financial tools they need to succeed.”

Danfulani added that NAIC would continue to innovate and adapt its insurance services to the evolving needs of farmers while collaborating with financial institutions to provide holistic solutions to sector-wide challenges.

The NAIC boss was accompanied by Executive Directors Hon Abubakar Jarengol and Mr Ayandayo Babaranti, underscoring the corporation’s commitment to strategic partnerships that drive agricultural transformation.

The renewed collaboration, he noted, would help build a more resilient, competitive and inclusive agricultural sector for national development.