Flood: NAIC sympathises with affected farmers, promises compensation

The Nigerian Agricultural Insurance Corporation (NAIC) on Friday sympathised with  farmers across the country over the recent flood which ravaged their farms.

Mrs Folashade Joseph, the Managing Director NAIC, conveyed the message on behalf of the Board of Directors of the agency at a press conference at its headquarters in Abuja.

Joseph also used the conference to reassure its insured farmers and farmer groups in various states affected by the flood of its supports in terms of relief materials and prompt payment of appropriate compensation.

“NAIC wishes to symparthise and assures its insured farmer groups in various states affected by the flood that the corporation is very mindful of its corporate responsibility to give them relief.

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“The corporation will also plough them back to prosperity through the prompt payment of appropriate compensations, “ she said.

The NAIC boss urged the insured farmers to make all efforts to avert and minimise the unpleasant effects of flood on the farms by promptly informing the nearest NAIC office in their various states.

She said that if they promptly inform the corporation on time of their travails, appropriate support would be extended to them in a timely manner.

The NAIC official also extended the agency’s sympathy to farmers who had not registered with the corporation and  encouraged them to do so in future to take the advantage of the agricultural insurance solutions offered by the corporation.

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Joseph said that taking such insurance solution was in accordance with the policies of the government of President Muhammadu Buhari to protect farmers who had answered the patriotic call to go back to agriculture.

“Apart from insuring the risk of loss of crops from flood, NAIC provides insurance against crop losses arising from fire, lightening, drought and pests attacks on crops.

“Equally, the risk of death of or injury to livestock caused by accident or diseases are also insured by NAIC and the beauty is that the assessed premium payable to NAIC is subsidised, “ she said.

According to her, the subsidy is 50 per cent reimbursable to the corporation by the federal and state governments.

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She said all these were efforts to provide a secure future to farmers and to eliminate the need for unpredictable ad-hoc assistance when insurable losses occurred.