Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite and the Minister of State for Agriculture, Aliyu Sabi Abdullahi met on Monday in Abuja to unlock the game-changing reforms in agricultural insurance and Cooperatives.
The discussions focused on two strategic initiatives: reform and recapitalization of the Nigerian Agricultural Insurance Corporation (NAIC) and the Renewed Hope Cooperative Reform Programme.
Uzoka-Anite stated that Agricultural insurance plays a pivotal role in de-risking food production, particularly for smallholder farmers who form the backbone of Nigeria’s food system.
According to local media reports, the minister emphasized that strengthening NAIC within the evolving regulatory landscape, including the Nigerian Insurance Industry Reform Act, is critical to improving resilience and financial sustainability.
*We view agricultural risk mitigation not merely as sectoral reform but as an economic stabilizer with significant GDP impact. We stand ready to support and look forward to reviewing the detailed proposal for coordinated fiscal and regulatory action,* Dr. Uzoka-Anite said,
These strategic reforms, the minister added, underscore Nigeria’s commitment to transforming agriculture into a resilient, market-driven sector, boosting food security, and driving inclusive economic growth.
Source - https://apanews.net
