Nigeria: 'Agricultural Insurance Is Farmers' Main Problem'
Rotimi Williams owns the Keresuk Rice Farm in Tunga, Nasarawa State, which was destroyed by flood last year. In this interview with Daily Trust, he said the Nigeria Agricultural Insurance Corporation (NAIC) should be repositioned for better performance.
Why do you think farmers, especially rice farmers, need to take insurance policy?
Let me start by highlighting that for rice production, rice is water, rice needs 100 per cent water supply and farmers are located close to water source, mine is located close to the River Benue. This makes the farms prone to flooding.
So in our case, we insured that area. However, the flood happened on September 16, 2015. There were two flood incidents, the first destroyed 40% of the farm while the second one affected the farm hundred per cent. This flood lasted for about seven to 10 days and we lost pretty much of all the crops. It was a 100 per cent loss.
What is your assessment of insurance policy as far as agriculture is concerned?
To be honest, I do not see reason for insurance policy but inasmuch as I need insurance, there is no point paying and then waiting close to a year before you get an offer and they end up giving you inadequate offer. You might as well take that money from the premium, gamble on nature and put the money in the farm.