The National Agricultural Development Fund (NADF) has entered into a tripartite Memorandum of Understanding (MoU) with Leadway Assurance Company Limited and Verdure Climate to scale innovative agricultural insurance and climate-resilient financing for small holder farmers.
The agreement was signed in Abuja during the National Dialogue on Innovative Agric Insurance and Climate Finance and will drive the implementation of AGRA’s project titled Building Farmers’ Resilience through Innovative Insurance Models and Financial Instruments.
Mohammed Ibrahim, executive secretary of NADF—represented by Nasir Ingawa the General Manager, Partnerships and Investor Relations, said the collaboration aligns with the Fund’s mandate to strengthen agricultural lending across Nigeria.
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“As we face increasing challenges due to climate change, unpredictable weather patterns, and limited access to finance, the role of innovative financial solutions such as index-based agricultural insurance and blended finance has never been more critical,” he said.
He added that the introduction of index-based and pay-at-harvest insurance products would significantly enhance investor confidence in the sector.
Under the partnership, the organisations will work to bundle insurance with agricultural loans, expand credit-linked insurance for rice, soybean and maize value chains in priority states, and integrate climate-smart agriculture practices into NADF’s loan offerings.
The initiative will also introduce digital climate advisory services and strengthen the capacity of business development service providers.
Leadway Assurance described the MoU as a major step toward deepening climate preparedness within Nigeria’s agricultural sector.
Fatona Ayoola Paul, Head of Agriculture Risk Solutions, commended NADF for providing “the policy anchor that initiatives like ours can build upon”.
The dialogue convened financial institutions, government bodies, insurers, anchor companies and farmer groups to explore policy, financing and risk-management strategies for integrating index insurance into agricultural lending and unlocking more private capital for rural producers.
The project forms part of AGRA 3.0, which aims to boost access to finance, strengthen market linkages, expand innovative insurance solutions and improve climate resilience for thousands of farmers between 2025 and 2027.
Ruth Tene Natsa
Ruth Tene, Assistant Editor, Agric/Solid Minerals/INEC
Ruth Tene is an award-winning journalist with over 15 years experience in developmental reporting across several newsrooms, as a reporter, editor and other managerial roles. She holds a Postgraduate Diploma in Journalism from the University of Maiduguri among several other certifications
She has attended several trainings and certifications both locally and internationally and has been recognized for her impactful work in humanitarian reporting, receiving the Gold Award for Humanitarian Services from the Amazing Grace Foundation. She is also a recipient of the Home Alliance Fellowship, reflecting her commitment to fostering a more humane, safer and more sustainable planet.
An active member of professional journalism bodies, Ruth is affiliated with the Nigeria Union of Journalists (NUJ), the National Association of Women Journalists (NAWOJ), and the Agricultural Correspondents Association of Nigeria (ACAN), where she continues to advocate for excellence, ethical reporting, and development-focused journalism.
