Monday, August 11, 2025
22.5 C
Lagos

NAIC Paid N848m Claims to Farmers in 2020

Folashade Joseph

Managing Director/CEO

Nigerian Agricultural Insurance Corporation

The Nigerian Agricultural Insurance Corporation (NAIC) paid over N848 million as claims to its insured farmers in the 2020 business year.

Mrs. Folashade Joseph, Managing Director/CEO of NAIC, said the Corporation also paid N856 million in 2019 to its clients to cover losses incurred by them in the course of doing business.

Joseph enjoined agricultural investors and lending institutions to continue to partner NAIC to realize the food security agenda of President Muhammadu Buhari and the noble intentions of the Central Bank of Nigeria (CBN) under the leadership of Dr. Godwin Emefiele.

spot_img
spot_img

Hot this week

UBA Group Chair, Tony Elumelu, Seeks Critical Measures to Drive Africa’s Development

L-R: President, Central African Republic, Faustin-Archange Touadéra and Group...

148 Nigerians Win ₦23m in Stanbic IBTC’s Reward4Saving Season 4 Promo

Stanbic IBTC Bank has successfully enhanced the financial well-being...

NCC Hosts National Broadband Mapping System in Abuja

L-R: Project Manager, Africa-BroadBand (BB) Maps, International Telecommunication Union (ITU),...

Sterling Bank Names First Beneficiaries of ₦2B ‘Beyond Education’ Fund

Sterling Bank, Nigeria’s leading financial institution, has announced the...

Former CFI of NAICOM, Sunday Thomas, to Chair NAIPE 2025 Conference

The Nigerian Association of Insurance and Pension Editors (NAIPE)...

Topics

Sovereign Trust Insurance: N16.3bn Assets, N13bn Premium, N4bn Claims in 2021

Olaotan Soyinka Managing Director/CEO Sovereign Trust Insurance Plc Sovereign Trust Insurance Plc...

FOR THE RECORD – CONSUMER: King or Servant in Insurance Business

By Chief Yemi Soladoye Technical Adviser, Insurance Consumers Association of...

Independents to Account for 25% Oil Production by 2020

Independents are projected to account for about 500kbpd by the year 2020, representing 25% of crude oil production in Nigeria, from the current level of 10%. The development is seen as a reflection of the changing landscape of the oil and gas industry in Nigeria. Key Recommendations: • Integration of the upstream to other parts of the value chain may eventually be driven by the independents. • Challenges such as security, especially for independents operating in shallow waters. Local companies reiterated that security and community challenges have greatly altered their cost of production which cannot be fully ascertained. When coupled with Government take and interest from loans the cost per barrel increases. • Government is to ensure that an enabling environment is created - independents need to be able to deliver on capacity growth and funding.

SENATE: AMCON Needs More Support on N5tr Debt Recovery Drive

Ahmed Kuru Managing Director/CEO AMCON The Chairman Senate Committee on Banking, Insurance...

China, India: World’s Largest Internet Markets

India has overtaken the United States to become the...

World Bank: ‘End Cycle of Poverty Now’

The social status of one’s parents is as influential...

ATCON: Broadband Penetration Low in Nigeria

Mr. Olusola Teniola, President, Association of Telecommunications Companies of...

Fidelity Bank Eyes Oversubscription to N127.1 bn Combined Offers

Against the background of groundswell of supports and enthusiasm...
spot_img

Related Articles

Popular Categories

spot_imgspot_img