Leadway Assurance Company Limited has announced a strategic partnership with the Alliance for a Green Revolution in Africa (AGRA) to implement a $399,900 (approximately ₦642 million) initiative aimed at enhancing the resilience of smallholder farmers (SHFs) in Nigeria.
The three-year project, titled “Building Farmers’ Resilience through Innovative Insurance Models and Financial Instruments,” will run from March 2025 to March 2028, targeting 21,000 farmers across Kaduna, Nasarawa, and Niger States.
The initiative will deploy parametric insurance solutions, including the “Pay at Harvest” model, which allows farmers to defer premium payments until post-harvest, easing financial constraints and encouraging wider insurance adoption.
According to Fatona Ayoola, Head of Agribusiness at Leadway Assurance, the partnership marks a transformative step for agricultural risk management in Nigeria, especially for underserved communities facing increasing climate volatility.
Rufus Idris, Country Director at AGRA, emphasized that the model builds on proven solutions to support food security and scale insurance access amid rising climate challenges such as floods, droughts, and pests.
Building on the success of Leadway’s previous partnership with Heifer International, which reached over 60,000 SHFs, the new initiative aims to:
- Unlock $10 million in agricultural credit,
- Launch six new farmer-centric financial products,
- Disseminate four knowledge products to foster sector-wide adoption by 2028.
As climate risks intensify across Nigeria, this initiative represents a bold move to embed resilience, restore confidence in farming, and secure rural livelihoods.
