Heifer, others to insure rice farmers | Dailytrust

Heifer, others to insure rice farmers

Heifer International, a nonprofit organization, has disclosed plans to introduce the Area Yield Index Insurance (AYII) to Nigerian rice farmers as a solution to mitigate climate change-induced losses and restore investors’ confidence in rice farming. 

In a statement Sunday, it stated that AYII is an insurance method used to ensure farmers get full returns if insured farmland does not produce the projected quantity of crops and guarantees that they do not suffer loss.

It said the scheme is implemented in collaboration with three PULA, OLAM and Leadway Assurance Ltd, to cover the hazard shared by most farmers.  

AYII Country Director, Rufus Idris said “Constant exposure to unreliable weather conditions, new pests and diseases, cripple farmers’ businesses and discouraged agribusiness financiers and investors. AYII provides rice farmers in Nigeria with an affordable way to mitigate the impacts of climate change on their businesses.”

The Commercial Manager, West Africa Anglophone of PULA, Chukwuma Kalu, said the partnership was crucial due to climate change and adverse weather conditions affecting farmers’ productivity and earnings.

Olam’s Vice President for Farming Initiatives, Reji George, said it is happy to be a part of this innovative solution that improves financial resiliency among Nigerian smallholder rice farmers.

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
Media Trust Ltd

Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410