In recent times Nigerian crop farmers and nomadic herders have had violent clashes arising from cattle incursions into farms, due to unusual cattle grazing and this have led to destruction of crops and farmlands.
While the issue of cattle encroachment into farms has been attributable to both political and climate change issues, there is however an urgent need to resolve these issues for the benefit of the affected parties.
Although the peril appears to be climatic and socio-political in nature, for the farmers, the need to recover lost investment remains a topmost priority. The spike in the frequency of these clashes has continued to threaten crop production with the resultant increase in the prices of staple food crops investments in crop farming, thereby posing further challenges for the Nation’s food security.
Although in some areas where crop farmers and herders interact peacefully to settle encroachment into crop fields, the compensation paid to the affected farmers, hardly protects the farmers from total investments loss, especially when the crops are just within the early stage of germination. Another issue with herders that goes beyond these encroachments is the burning of bushes to grow new grasses to become fleshy for the animals to graze. These fires spread rapidly beyond the herders’ control, into nearby farms thereby destroying investments in crop fields.
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While some states in Nigeria, have passed open grazing laws to avert these unpleasant engagements between farmers and herders, the wait for effective implementation of the new legislation means that the farmers continue to face these risks. There is a need therefore to intervene with bespoke insurance based risk management tool for the farmers to commit to further investment in crop farming to avert the nation falling into starvation.
In response to the farmers’ plight, Leadway Assurance, Nigeria’s leading insurer, has taken the bold step to extend its foremost Agric-insurance cover (under its Multi-peril Crop Insurance Product) to indemnify farmers for losses incurred due to farm encroachments as a result of unusual cattle grazing.
With this unique and timely risk management product, farmers who suffer cattle encroachment into their crop fields and destruction of their farmland are assured that Leadway will compensate the insured farmer for the recovery of their investments in the farmland. The organisation is confident that this intervention is not only a confident booster for the farmer but also a pivotal mitigant to food security threats.
According to Mr Ayoola Fatona, Leadway Assurance’s Head, Agric and Micro Insurance, there was an urgent need for the organisation, acclaimed to be the leading insurer in Nigeria, to set the pace towards building confidence in Agropreneur that have invested in the production value chain.
“As a leading risk bearer and insurance service provider especially for the agribusiness sector, we aim to provide top-notch service and satisfy our esteem farmers and agribusiness investors with our dynamic, bespoke and comprehensive insurance solutions to protect their investments across the entire agricultural value chain. The request for insurance cover for the risk of cattle encroachment has been growing over the years from farmers, and in our usual characteristic manner of responding to the needs of our customers, we decided to cover the peril of cattle encroachment as an extension to our existing crops policy. Our existing crops policy intends to cover farmers at the time of loss mostly against natural occurring perils like flood, drought, windstorm, prolonged dry spell etc. The farmers who suffer losses relating to animal encroachment would be compensated with the deployment of this exemplary risks management tool. It is a win-win solution for the farming ecosystem and the food consuming population in Nigeria. Crop farmers are therefore advised to get in touch with Leadway Assurance Company Limited on how to access this additional insurance solution.” Mr Fatona added.
With this audacious step, there is no gainsaying that Leadway Assurance is poised to make farming an endeavour that bears peace of mind, despite the growing risk facing the agricultural sector in Nigeria today.
To find out more about accessing this policy, please visit https://www.leadway.com/agric-insurance/ or call the Leadway Assurance customer care helpline on 01-2800-700. You can also send an email to [email protected] for professional advisory or request a call back by visiting www.leadway.com/call-me.
We are within your reach on WhatsApp via our virtual assistant support on 08129997044 or any of our social media outlets – @LeadwayAssurance on Facebook & Instagram, @Leadwayinsure on Twitter. You can also send a DM, and we will revert with all the information you require.
