Nigeria’s agricultural future got a major boost as Leadway Assurance teamed up with the Alliance for a Green Revolution in Africa (AGRA), the National Agricultural Development Fund (NADF), and Verdure Climate to push forward bold, climate-smart insurance solutions for farmers.
Hosted in Abuja, the high-level dialogue—“Accelerating Agricultural Lending to Market Actors and Smallholder Farmers using Index-Based Agric Insurance & Blended Finance Solutions”—attracted policymakers, financial institutions, agribusiness experts, and development leaders all focused on one mission: strengthening Nigeria’s agricultural resilience.
The Big Picture: Nigerian Farmers Need Protection
With more than 82% of Nigerian farmers still uninsured, the stakes are high. Climate change is already disrupting farming cycles, and projections show agricultural productivity could drop by:
- 10–25% nationwide by 2080
- Up to 50% in heavily rain-dependent regions
The message was clear: Without insurance-backed financing, Nigeria’s food systems remain vulnerable.
Leadway Assurance: “Insurance Must Become a Productivity Engine”
Ayoola Fatona, Leadway’s Global Head of Agriculture Risk Solutions, emphasized that insurance isn’t just a safety net — it’s a catalyst for growth, credit access, and climate-smart agriculture.
In his words:
“We are on a mission to make insurance a catalyst for productivity… helping farmers access credit, adopt climate-smart practices, and recover quickly from weather shocks.”
He highlighted the power of index-based agric insurance, especially when paired with blended finance, to deliver:
- Faster payouts
- More transparency
- Scalable risk protection
- Improved credit access for both smallholders and agribusinesses
Collaboration for Real Impact
The partnership with AGRA, NADF, and Verdure Climate aims to translate innovation into real benefits for farmers across Nigeria — from maize growers in Nasarawa to rice producers in Niger State.
Leadway’s track record speaks for itself:
- Expanded index-based crop insurance across multiple states
- Strengthened public–private partnerships
- Supported rural farming communities through training and capacity building
- Provided coverage to thousands of smallholder farmers between 2024 and 2025
The result? Improved financial stability and continuity for Nigerian agribusinesses.
The Road Ahead
With climate risks intensifying, agriculture can no longer rely on traditional funding or old risk-management models. The Abuja forum reinforced one key truth: insurance must evolve into a powerful tool for food security, climate resilience, and economic empowerment.
Leadway Assurance and its partners are clearly positioning themselves at the forefront of that transformation.