Business
NIRSAL Moves To Curb Herdsmen, Farmers’ Clashes
Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Mr Aliyu Abdulhameed, says the organisation is exploring insurance for livestock to reduce clashes between herdsmen and farmers.
Abdulhameed disclosed this at the opening of a four-day training workshop on risk modeling of index-based agricultural insurance in Abuja, Monday.
The workshop was organised by National Insurance Commission (NAICOM) with the support of the World Bank.
He said that NIRSAL worked with a consortium of underwriters to develop the Area Yield Index Insurance (AYII) product in 2017.
“Today, we are happy to report that we have an index-based yield insurance product that covers risks from disease, weather, natural disasters and several other external factors.
“Since the launch of the insurance product six months ago, over 25,000 smallholder farmers have subscribed to it,’’ he said.
He added that the organisation was also nurturing local and international partnerships to help expand the scope of agricultural insurance for small holder farmers in Nigeria.
“A key aspect of our plan is to increase insurance coverage from the current level of about 0.5 million to 3.8 million agricultural primary producers.
“We recently signed partnership agreements with a leading Moroccan agricultural insurance as well as a reinsurance company to provide technical support in expanding the range of agricultural insurance products in Nigeria,’’ Abdulhameed explained.
Commissioner for Insurance, NAICOM, Mr Mohammed Kari, said NAICOM had embraced Index Based Agricultural Insurance (IBAI) as a strategic initiative for insurance penetration and a contributor to the development of agriculture.
Kari said that the AYII was based on the “Anchor Borrowers Programme” of the Central Bank of Nigeria (CBN) worth over one billion dollars.
Commenting on the importance of the programme, he said it would spur rural financial markets and support economic development.
“Natural disasters can depress economic output, damage infrastructure and increase fiscal demands on government and donor organizations.
“Using weather insurance to manage the risk of catastrophic weather events will stimulate economic development by improving stability and opportunities for growth in the agricultural and financial sectors,” Kari said.
He added that IBAI could have immediate impact on reducing vulnerability to weather risk by protecting the productive capacity of rural enterprises and farm households.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Maritime3 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
Maritime3 days ago
Customs Cautions On Delayed Clearance, Says Consignees May Lose Cargo
-
Maritime3 days ago
Lagos Ready For International Boat Race–LASWA
-
Maritime3 days ago
NCS Sensitises Stakeholders On Automated Overtime Cargo Clearance System
-
Maritime3 days ago
Shoprite Nigeria Gets New Funding to Boost Growth, Retail Turnaround
-
Politics3 days ago
I Would Have Gotten Third Term If I Wanted – Obasanjo
-
Sports3 days ago
Bournemouth, Newcastle Share Points
-
Sports3 days ago
Iwobi Stars As Fulham Overcome Brentford