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 Articles
Ndako JA, Osemwegie OO, Spencer THI, Olopade BK Yunusa GA and Banda J
Prevalence of dermatophytes and other associated fungi among school children
Glo. Adv. Res. J. Agric. Sci. April 2012 Vol: 1(3): - [Abstract] [Full Text - PDF] (191 KB)
Abebe Nigussie and Endalkachew Kissi
Physicochemical Characterization of Nitisol in Southwestern Ethiopia and Its Fertilizer Recommendation Using NuMaSS
Glo. Adv. Res. J. Agric. Sci. June 2012 Vol: 1(4): - [Abstract] [Full Text - PDF] (145 KB)
Raji MO, Salihu Muhammad, Firima Dinebari, Amira Bello, Oladigbolu RA and Kaoje AU
Predictors of Hawking experience, and knowledge of health hazard of street hawking, among Child Hawkers in Sokoto Metropolis
Glo. Adv. Res. J. Agric. Sci. September 2017 Vol: 6(9): - [Abstract] [Full Text - PDF] (123 KB)
Review
Adegboyega Isaac Ajayi
Leadership, Followership and Socio-Political Development in Post-Independence Nigeria
Glo. Adv. Res. J. Agric. Sci. December 2012 Vol: 1(9): - [Abstract] [Full Text - PDF] (142 KB)
Original Research Articles
Oyedepo TA
Antioxidant potential of Citrus maxima fruit juice in rats
Glo. Adv. Res. J. Agric. Sci. June 2012 Vol: 1(5): - [Abstract] [Full Text - PDF] (162 KB)
Gwary, M.M., Nuhu, H.S., Burabe, B.I. and Toro, N.A.
Analysis of Determining Factors to Women’s Participation in Poultry Production in Toro Local Government Area of Bauchi State, Nigeria
Glo. Adv. Res. J. Agric. Sci. September 2015 Vol: 4(9): - [Abstract] [Full Text - PDF] (130 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 3460
Printed 515
Downloaded 7927
Powered By iPortal Works