The Kwara State Commissioner for Agriculture and Rural Development, Alhaji Muritala Olarewaju has advised farmers and agro-investors to insure their businesses against indemnity.
Alh.Olarewaju gave the advice while delivering an address on insurance for investors capital in Agriculture, during a virtual meeting organized by Ajike People Support Centre in partnership with the African Farmers’ Stories.
The Commissioner disclosed that the State Government has partnered the Nigerian Agricultural Insurance Corporation (NAIC) with a view to motivating investors to invest in agricultural sector of the State.
According to him, the Kwara State Government in collaboration with some of the Federal Government’s Financial Agencies has facilitated the release of financial facilities to youths and women farmers across the three Senatorial Districts of the State, in addition to the provision of agricultural inputs at subsidized rates.
The present administration, he said, through the Ministry of Agriculture has carried out advocacy visits and sensitisation programmes through various platforms on the need for investors to insure their investments for guaranteed stabilisation of farm income against natural disasters, pest or disease and also ensure prompt payment of appropriate compensations to farmers.
The Commissioner pledged government’s commitment to the provision of enabling environment for investors in the state agricultural sector, pointing out that the present administration, paid 200 million naira counterpart fund for the World Bank RAAMP Project to ensure that several farming communities are connected with motorable roads and seamless movement of farm produce across the state.