• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

3,110 Farmers Get N111.4m Claims From Leadway Assurance

by Zaka Khaliq
3 years ago
in Business
leadway assurance
Share on WhatsAppShare on FacebookShare on XTelegram

Leadway Assurance, in partnership with global non-profit and leading Agri-tech businesses, indemnified about 3,110 smallholder rice farmers in Benue and Nasarawa States with over N111.4 million claims payout.

Advertisement

This, the firm said, was to mitigate harvest losses suffered by farmers attributable to pest infestations, drought, prolonged dry spell, soil moisture stress, and other adverse climatic conditions attributable to the negative impact of climate change.

Leadway Assurance, in collaboration with Heifer International, a global non-profit development; OLAM, a global agri-business company; and PULA Advisors, an agricultural insurance and technology company had provided an innovative  Agric-insurance cover – the Area Yield Index Insurance AYII, Pay At Harvest (AYII-PAH) initiative.

This insurance solution which allows farmers to pay insurance premiums after their crops have been harvested and sold, was designed by Leadway Assurance and Pula Advisors to mitigate climate change-induced losses among smallholder farmers in Nigeria and further deepen insurance penetration among rural households in the country.

It was also designed to enable farmers pay for insurance premiums when it is financially convenient for them to do so. The cover compensate the farmers for yield losses suffered at the end of a cropping season.

RELATED

The Evolution Of Betting In Nigeria: A Journey Of Growth

How To Bet Smarter In 2025

54 seconds ago
Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases

Global Oil & Gas Contracts Up By $7bn In Q2

5 hours ago
ADVERTISEMENT

Speaking during the claims payout ceremony in Makurdi, Benue state, recently, the head, Agric and Micro Insurance, Leadway Assurance Company Limited, Mr. Ayoola Fatona, said that compensating farmers for losses suffered during their production is pivotal to bolstering investors’ confidence in unlocking opportunities in the agricultural value chain, hence, engendering food security on the continent.

It is also by extension Leadway Assurance contribution in guaranteeing the food security of the nation.

Fatona said: “in the 2021 farming season, we insured 4,358 hectares of farmlands belonging to over 4,354 farmers in Benue and Nasarawa States. Today, with the payment of the different claims amounts N100million directly to the farmer’s bank accounts, we have ensured that 3,110 of these smallholder farmers would not lose their investments over losses suffered due to soil moisture stress occasioned by prolonged dry spells and mild droughts. The farmers now truly believes that insurance truly works.

ADVERTISEMENT

“With the payment of a claim totaling N111,398,895, Leadway is enabling their recovery from investment losses and boosting their confidence ahead of a new farming season as the premiums received from the farmers at the end of the season will be ploughed back  to insure their farms for the 2022 wet season which has begun in earnest with the onset of the rainy season in many parts of the country.”

“Today, indeed marks a major milestone in the Nigerian Agriculture Insurance space, as leading corporates in the agriculture space partners to provide support, restore investor’s confidence and boost farmers’ hope”, he added.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Leadway Assurance
SendShare10184Tweet6365Share
ADVERTISEMENT
Previous Post

Oil Prices Rise By 1.33% To $123 Per Barrel After OPEC Report

Next Post

Aircraft Maintenance: Nigeria Loses N1.25trn To Foreign Countries In 1 Year – FAAN

Zaka Khaliq

Zaka Khaliq

You May Like

The Evolution Of Betting In Nigeria: A Journey Of Growth
Business

How To Bet Smarter In 2025

2025/08/26
Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases
Business

Global Oil & Gas Contracts Up By $7bn In Q2

2025/08/26
Fadaella Foods To Capture Nigerian Market With New Products
Business

Fadaella Foods To Capture Nigerian Market With New Products

2025/08/26
Africa Prudential Records 75% PBT Growth, N41.35bn Assets In H1
Business

Africa Prudential Records 75% PBT Growth, N41.35bn Assets In H1

2025/08/26
FG, Imo, NDPHC Seek Speedy Completion Of Egbema Power Plant
Business

Kano Manufacturers Engage NDPHC On Direct Power Supply

2025/08/26
Insurance Firms Begin Self-prescribed Recapitalisation As Minimum Capital Controversy Rages
Business

New Law Offers N2m Medical Compensation For Uninsured Accident Victims

2025/08/26
Leadership Conference advertisement

LATEST

How To Bet Smarter In 2025

PDP Vows To Resist APC’s ‘One-Party System’ Plot

Bauchi Police Arrest 5 For Alleged Sexual Abuse Of Minor

Tinubu To Launch Revised Counter-terrorism Strategy October

Abuja ASUU Joins Counterparts, Protests Unpaid Salaries, Wage Arrears, Others

Don’t Blame Zik For Ndigbo’s Current Political Woes – Okorie

UAE Unlocks Bilateral Ties With Angola To Bolster Diplomatic Cooperation

Gov Makinde Proceeds On Vacation, Transmits Power To Deputy Lawal

Federal Gov’t Begins Restoration Of VON Shortwave Transmitter

Japan Visa Saga: Tinubu Gov’t Desperate For Positive Headlines, Says ADC Spokesman

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.