CYRIL MBAH, Abuja
Smallholder farmers in several northern states were on Thursday given hope and the confidence to trust and do business with insurance outfits as Leadway Assurance, in partnership with the Presidential Food Systems Coordinating Unit (PFSCU) and PULA Advisors, paid out more than ₦396 million to beneficiaries for losses sustained during the 2025 cropping season.
The insurance pay-out ceremony, which was conducted under the National Agribusiness Planning Mechanism (NAPM), benefited Borno, Plateau, Kaduna, Taraba and other states in the northwest, northeast and northcentral states, where flooding and crop diseases destroyed several hectares of farmlands.
The payoff reinforced the critical role of agricultural insurance in safeguarding livelihoods, stabilising food production, and enabling farmers to recover from climate-related losses.
Commissioners for agriculture of the beneficiary states were present to receive the cheques from the Leadway Assurance company on behalf of their farmers who were victims of the disasters.
Speaking to newsmen soon after the presentation, the Managing Director/Chief Executive Officer of Leadway Assurance, Chief Bodega Lesi stated that the payout was conducted to prove doubting Thamases, who wrongly demonise insurance companies over unwillingness to fulfill promises and obligations of settling liabilities.
“This is the first time that beneficiaries are being given paid. There was initial resistance and reluctance on the part of farmers but since insurance is a key pillar of national growth and a key contributor to the economy and development, we had to do this to prove that we keep our promises and that we are credible.
“This pay-off is sufficient evidence that we have credibility and that insurance does work when customers trust us with their protection,” Chief Lesi stated.
Earlier in goodwill messages, Borno State Commissioner for Agriculture, Alhaji Bukar Kurama and his counterparts from Kaduna and Taraba State’s Yohanna Bulus commended Leadway Assurance and its partners, the Presidential Food Systems Coordinating Unit (PFSCU) and PULA Advisors, for giving hope to farmers in the states by coming to their assistance and reducing the losses suffered by the villagers who lost crops worth millions to flooding, diseases and insurgency.
Leadway Assurance is one of Nigeria’s leading insurance providers and it partnered with the Presidential Food Systems Coordinating Unit (PFSCU) and PULA Advisors to disburse a total of ₦396,697,672.00 in insurance pay-outs to smallholder farmers at the 2025 Wet Season Insurance Pay-out Ceremony held under the National Agribusiness Planning Mechanism (NAPM).
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.
Speaking at the event, the Chief Executive Officer of Leadway Assurance, Gboyega Lesi, said: “This pay-out underscores our promise to stand by our farmers when it matters most. Agricultural insurance is a vital tool for building resilience within Nigeria’s food systems, and 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.”
Also speaking, Fatona Ayoola, Global Head, Agricultural Risks Solutions at Leadway Assurance, noted that “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.”
He commended the PFSCU’s NAPM template which was conceptualized to clearly outline functional public-private partnerships in action.
Speaking at the event, Dr. Michael Enahoro, the Country Manager of Pula Advisors stated that the partnership with PFSCU and Leadway Assurance shows that indemnifying Nigeria Agricultural Production is workable and can be handled at scales to ensure food security.
He commended the State Governments for protecting their farmers and building their resilience against climate shocks and variability.
Enahoro thanked Bayer Foundation for supporting the NAPM risk management exercise and expressed confidence in their willingness to increase the support in alignment with the current season’s visions and objectives.
Recall that 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 management of the company stated that “this consistency in fulfilling obligations to policyholders has established Leadway Assurance and its partners as pivotal players in strengthening resilient agricultural systems and advancing food security in Nigeria.”
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