The Federal Government of Nigeria has partnered with Leadway Assurance and PULA Advisors to disburse N396.7 million in insurance claims to smallholder farmers affected by climate-related losses.
The payment was announced during the 2025 Wet Season Insurance Pay-out Ceremony held in Abuja under the Presidential Food Systems Coordinating Unit initiative. Beneficiaries were drawn from Borno State, Taraba State, Kaduna State, and Plateau State, where farmers recorded varying degrees of damage due to erratic weather and other risks.
A breakdown of the funds showed that Taraba received the highest share, followed by Borno, Kaduna, and Plateau states. The initiative is part of efforts to use agricultural insurance as a buffer against losses and to protect farmers from falling into financial hardship after poor harvests.
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Speaking at the event, Leadway Assurance CEO, Gboyega Lesi, described farming as highly vulnerable to climate conditions, stressing that insurance helps farmers recover and continue production. He noted that data from the exercise would guide future strategies and improve access to insurance for farmers.
Also speaking, a representative of PULA Advisors said the programme demonstrates that large-scale agricultural insurance is achievable in Nigeria and can strengthen food security.
Stakeholders at the event highlighted the importance of sustained collaboration between government and private organisations to build a more resilient agricultural sector and support farmers in the face of growing climate challenges.
