Yemisi Izuora
Leadway Assurance has once again reinforced its industry leadership, following partnership with Alliance for a Green Revolution in Africa (AGRA), the National Agricultural Development Fund (NADF), and Verdure Climate, to lead a national dialogue on identifying challenges and proffering actionable solutions on agricultural and climate risks in Nigeria.
This was agreed upon in Abuja, during a high-level forum, themed “Accelerating Agricultural Lending to Market Actors and Small holder Farmers Using Index-Based Agric Insurance & Blended Finance Solutions.”
Particants were drained from policymakers, financial institutions, agribusiness leaders, development experts, and critical value-chain actors to examine scalable models capable of strengthening Nigeria’s agricultural resilience.
Recent data shows that over 82% of Nigerian farmers remain uninsured (Phys.org, 2024), while projections warn that climate-induced disruptions could cut Nigeria’s agricultural productivity by 10–25% by 2080, with some rain-dependent regions facing losses of up to 50% (IOSR Journal, 2024; ScienceDirect, 2025). Against this backdrop, the dialogue provided a timely platform for advancing integrated solutions that combine insurance, credit, and climate-risk financing.
Speaking at the event, Ayoola Fatona, Global Head, Agriculture Risk Solutions, Leadway Assurance, reaffirmed the organisation’s long-term commitment to financial inclusion and agricultural transformation. “We are in a mission to make insurance a catalyst for productivity by ensuring farmers can access credit, adopt climate-keen practices, and recover quickly from weather-related shocks. Collaborating with AGRA, NADF, and Verdure Climate allows us to co-create solutions that strengthen the entire value chain and secure the future of our food systems.”
In his opening address, Mr. Fatona Ayoola, Global Head, Agriculture Risk Solutions, Leadway Assurance, underscored the urgency of building systems that empower farmers and de-risk financiers. He noted that “the dialogue forms part of our AGRA-supported initiative to build farmers’ resilience through innovative insurance models and financial instruments across Niger, Kaduna, and Nasarawa States.
As climate risks intensify, our responsibility extends beyond underwriting; we must become enablers of productivity, inclusion, and long-term stability. Index-based insurance, when integrated with blended finance structures, creates the transparency, speed, and scalability needed to unlock credit for market actors and smallholder farmers alike.”
He added that the collaboration among government, insurers, financiers, and development partners is essential to translating innovation into real impact for farmers, the maize grower in Nasarawa, the rice producer in Niger, and the aggregators supporting thousands across Kaduna.
Leadway Assurance has consistently invested in strengthening Nigeria’s agricultural insurance framework through initiatives such as index-based crop insurance, public-private partnerships with state governments, and capacity-building programmes for rural farming communities. Between 2024 and 2025, Leadway has supported interventions that expanded coverage for thousands of smallholder farmers across multiple states, contributing to improved financial stability and agribusiness continuity.