Leadway Assurance, Partners Disburse N396m Claims to Smallholder Farmers for Climate-related Losses

James Emejo in Abuja

Leading insurance provider, Leadway Assurance, alongside its partners, the Presidential Food Systems Coordinating Unit (PFSCU) and PULA Advisors, yesterday disbursed a total of N396.69 million in insurance pay-outs to smallholder farmers.

The 2025 wet season insurance pay-out ceremony was held under the National Agribusiness Planning Mechanism (NAPM) in Abuja.

The disbursement benefited farmers in Plateau, Borno, Kaduna, and Taraba States, reinforcing the critical role of agricultural insurance in safeguarding livelihoods, stabilising food production, and enabling farmers to recover from climate-related losses.

The ceremony provided a platform to review outcomes from the recently concluded wet season, present verified yield data, and recognise beneficiary farmers.

It also created an avenue for forward-looking discussions among key stakeholders, fostering stronger collaboration and strategic alignment ahead of the 2025/2026 dry season farming.

Chief Executive, Leadway Assurance, Gboyega Lesi, said the pay-out underscored the company’s pledge to stand by farmers when it matters most.

He noted that agricultural insurance remained a vital tool for building resilience within Nigeria’s food systems.

Speaking at the ceremony, Lesi said, “We are proud to support farmers in mitigating the impact of climate risks.

“This pay-out reflects what is possible when public and private sector partners align around a shared vision for agricultural transformation.

“By leveraging data-driven insurance solutions, we ensure that vulnerable farmers are not left behind amid climate uncertainties.”

In his remarks, Global Head, Agricultural Risks Solutions at Leadway Assurance, Fatona Ayoola, said, “At Leadway Assurance, we view agricultural resilience as vital to Nigeria’s food security, and our commitment to claims payment exemplifies this ethos.

“We understand that empowering farmers to recover from losses, rebuild, reinvest, and sustain their operations fosters the trust and confidence needed to continue investing in the production of food that nourishes the nation and build our food systems.”

Ayoola also hailed the PFSCU’s NAPM template which was conceptualised to clearly outline functional public-private partnerships in action.

On his part, Country Manager of Pula Advisors, Dr. Michael Enahoro, stressed that the partnership with PFSCU and Leadway Assurance had demonstrated that indemnifying the Nigerian agricultural production was workable and could be handled at scales to ensure food security.

Enahoro also commended the state governments for protecting their farmers and building their resilience against climate shocks and variability.

He thanked the Bayer Foundation for supporting the NAPM risk management exercise and expressed his confidence of their willingness to increase support in alignment with the current season’s visions and objectives. 

In 2024, Leadway and its partner’s paid N110 million in agricultural insurance claims to 1,138 Nigerian farmers who experienced total yield losses following the outbreak of ginger blight disease.

The consistency in fulfilling obligations to policyholders had established the insurance company and its partners as pivotal players in strengthening resilient agricultural systems and advancing food security in the country.