Lasaco Assurance Plc has pledged to strengthen the agricultural sector through customised insurance solutions aimed at protecting farmers, boosting productivity and supporting Nigeria’s rural economy.
This commitment was made during a courtesy visit by the company’s leadership to the Minister of State for Agriculture and Food Security, Dr. Aliyu Sabi Abdullahi. The meeting was led by Razzaq Abiodun, Lasaco’s Managing Director and Chief Executive Officer, along with key members of the firm’s executive team.
At the meeting, Lasaco introduced its new Cooperative Insurance Scheme, which is designed to provide risk protection, financial security, and long-term sustainability for farmers and agricultural cooperatives nationwide.
Abiodun said the initiative reflects the company’s goal to provide accessible, farmer-focused insurance products that directly address challenges faced by rural communities and others in the agricultural value chain.
“The agricultural sector remains a cornerstone of Nigeria’s economy, and we believe insurance must play a vital role in safeguarding the livelihoods of farmers and enabling food security,” he said.
The Cooperative Insurance Scheme is expected to provide coverage that helps reduce farm-related risks, shield farmers from unexpected losses, and support investment in sustainable agricultural practices.
In response, Minister Abdullahi welcomed the initiative and applauded Lasaco’s efforts to align with government strategies aimed at transforming agriculture, supporting rural development, and strengthening economic resilience.
He highlighted the importance of public-private partnerships in addressing agricultural vulnerabilities and scaling sustainable practices across rural Nigeria.
