Nigeria: Prospects of an agricultural partnership with the United Arab Emirates
A delegation from the United Arab Emirates (UAE) recently visited Abuja to explore a partnership with the Nigerian Agricultural Insurance Corporation (NAIC), which has provided $658 million in support to the agricultural sector over the past five years.
During the visit, Folashade Joseph, the Managing Director of NAIC, advocated for collaboration with the UAE to adopt advanced technologies and innovative agricultural methods such as hydroponics, vertical farming, and controlled environment agriculture.
Speaking to the UAE delegation on Monday in Abuja, Ms. Joseph emphasized NAIC’s commitment to supporting initiatives that contribute to agricultural development, enhance food security, and strengthen the resilience of farmers, particularly smallholders.
“NAIC is eager to engage in productive discussions to identify concrete partnership opportunities with the UAE,” Ms. Joseph stated. “We believe that by combining our efforts and leveraging our collective strengths, we can significantly advance agricultural development and achieve our food security goals in both countries.”
Ms. Joseph further remarked, “The challenge of food security is substantial. However, I am hopeful and optimistic that through our collective commitment, innovative thinking, and strategic collaboration, we can overcome it and ensure that our citizens have easy access to healthy and nutritious food.”
Over the past five years, NAIC has provided 1.014 trillion nairas ($658 million) in insurance coverage to the agricultural sector.
During this period, the organization collected premiums amounting to 8.56 billion nairas ($5.1 million), according to Ms. Joseph.
