Africa Re, alongside the Livestock Productivity and Resilience Support Project (L-PRES), has introduced an Index-Based Livestock Insurance (IBLI) product in Nigeria to protect pastoralists and livestock farmers from drought and pasture degradation. 

The initiative was launched in Abuja with key stakeholders from government, the insurance sector, and pastoralist communities in attendance.

The Honourable Minister of Livestock Development, Alhaji Idi Mukhtar Maiha (represented by Professor Yustaz Yayi), launched the program. 

He noted the critical role of livestock in national development and reaffirmed the government’s support. 

This innovative insurance product uses satellite data to monitor vegetation and trigger timely payouts, ensuring transparency and efficiency in risk management. 

The pilot phase is slated to run from August 15 2025, to March 30, 2026. 

The project would target 20,000 livestock farmers across Sokoto, Bauchi, Adamawa, and Plateau States, with participating insurers committed to ensuring accessibility and affordability for beneficiaries.

Source: Reinsurance News

Image Credit: AgroNigeria