The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, has received the Honourable Minister of State for Agriculture, Aliyu Sabi Abdullahi, to discuss strategic reforms to transform agricultural insurance and cooperatives.

The high-level meeting, held on Wednesday in Abuja, focused on two primary initiatives: the reform and recapitalisation of the Nigerian Agricultural Insurance Corporation (NAIC) and the launch of the Renewed Hope Cooperative Reform Programme. 

Dr Uzoka-Anite stated that agricultural insurance played a pivotal role in de-risking food production, particularly for smallholder farmers who served as the backbone of the nation’s food system.

The Finance Minister emphasised that strengthening NAIC was critical within the context of the evolving regulatory landscape, specifically the Nigerian Insurance Industry Reform Act. 

She noted that these updates were essential for improving the sector’s resilience and ensuring financial sustainability across the agricultural value chain.

“At the Ministry of Finance, we view agricultural risk mitigation not merely as sectoral reform but as an economic stabilizer with significant GDP impact,” Dr Uzoka-Anite said. 

She added that her ministry stood ready to support the transition and looked forward to reviewing a detailed proposal for coordinated fiscal and regulatory action.

The Ministers noted that these strategic reforms underscored the Federal Government’s commitment to evolving agriculture into a resilient, market-driven sector.

Source: Federal Ministry of Information, National and Orientation