Global Advanced Research Journal of Agricultural Science
June 2012 Vol. 1(4), pp. 097-103
Copyright © 2012 Global Advanced Research Journals

 

Review

Nigeria Agricultural Insurance Scheme (NAIS): Prospect, Achievement and Problems

Aina O.S.1 and Omonona B.T.2

1Department of Horticultural Technology, Federal College of Horticulture, Dadinkowa, P.M.B. 108, Gombe.

2Department of Agricultural Economics, Faculty of Agriculture and Forestry, University of Ibadan, Nigeria..

Corresponding Author Email:ainaoluwatunmisesunday@yahoo.com; Tel: 08035780411

Accepted 04 June, 2012

Abstract

The place of agriculture in any society cannot be easily quantified given its importance in the life of human beings. Agriculture is expected to ensure adequate supply of food to the people, therefore, the need to set up food production to meet the ever increasing population in Nigeria. In 1960 and early 1970s, there was a growing dissatisfaction with the econocratic perspective of development which places premium on economic indicators as economic growth rates and industrialization. Agriculture, unlike many other investment activities, is exposed to a wide variety of risks and uncertainties ranging from input supply and prices, agricultural yield, post harvest losses and product prices to the vagaries of nature such as inclement weather conditions, pests and diseases. Other natural hazards such as floods and fire outbreaks are equally important with regards to their impact on the success or failure of an agricultural enterprise. In order to boost agricultural production considerably, it is imperative to reduce the impact of these risks and uncertainties to the barest acceptable minimum. The need, therefore, for a mechanism that functions specifically, to keep the farmers in business  cannot, be over emphasized, and hence, the need for an agricultural insurance scheme in Nigeria. Natural disaster as floods and droughts are beyond the control of borrowers and the lending institution. These risks and other which include fire out breaks are transferred to insurance companies. In Nigeria there is National Agricultural Insurance Company (NAIC), operating in Nigeria since 1987, with the main objective of protecting the farmers from devastating effects of natural disasters and to ensure payment of appropriate compensation sufficient to keep the farmers in business after suffering a loss. This has lead to increase in agricultural production level in the country. This paper tries to examine the prospects, achievement and problems of Nigeria Agricultural Insurance Scheme/Company (NAIS/NAIC). 

Keywords: Insurance, Agriculture, Scheme, Prospect, Achievement, Nigeria.


Related Articles


Original Research Article
Mohamed Abouheif, Hussain Al-Sornokh, Ayman Swelum, Tarek Shafey Ahmed Mahmoud, Faisal Alshamiry and Raafat Haroon
Effects of intake restriction and realimentation on diet digestion and ruminal fermentation by growing lambs
Glo. Adv. Res. J. Agric. Sci. April 2016 Vol: 5(4): - [Abstract] [Full Text - PDF] (152 KB)
Review
Igberadja Serumu
Challenges of implementing technical and vocational education and training curriculum in Nigerian Universities
Glo. Adv. Res. J. Agric. Sci. August 2014 Vol: 3(5): - [Abstract] [Full Text - PDF] (141 KB)
Original Research Article
Teniola OD, Akinola SO, Dike EN, Elemo GN, Olatope SOA, Itoandon EE, Famotemi AC, Esan A, Orji FA and Buhari F
Effect of pure microbial isolates recovered from carbonated and non-carbonated fruit juices on freshly produced pineapple juice
Glo. Adv. Res. J. Agric. Sci. September 2013 Vol: 2(2): - [Abstract] [Full Text - PDF] (190 KB)
Review
Joseph Ayoola Omojolaibi and Mathew Babatope Ogunniyi
A Dynamic Panel Analysis of the Determinants of Economic Growth in Some Selected Sub Sahara African Countries
Glo. Adv. Res. J. Agric. Sci. April 2014 Vol: 3(4): - [Abstract] [Full Text - PDF] (130 KB)
Original Research Articles
Bogoro Audu Gani
Effects of Street Trading on Urban Areas in Nigeria
Glo. Adv. Res. J. Agric. Sci. February 2016 Vol: 5(2): - [Abstract] [Full Text - PDF] (1,346 KB)
Oladejo, Joana A
Profitability and Marketing Efficiency Analysis of Women Cassava Processors in Oyo State, Nigeria
Glo. Adv. Res. J. Agric. Sci. March 2017 Vol: 6(3): - [Abstract] [Full Text - PDF] (144 KB)

Current Issue

Viewing Options

View Full Article - PDF
Download Full Article - PDF

Search for Articles

Aina OS on Google Scholar
Aina OS on Pubmed
Omonona BT on Google Scholar
Omonona BT on Pubmed

Statistics

Viewed 6738
Printed 1046
Downloaded 11433
Powered By iPortal Works