Overview of NAIC

The Nigerian Agricultural Insurance Corporation (NAIC) was birthed in November, 1987 from the need for a specialized Agricultural Insurance Company to provide insurance cover to farmers.

It was well-informed by Government's concern over the vacuum created due to the unwillingness of conventional Insurers to accept Agricultural risks, which they considered too risky.

The implementation of the Scheme was initially vested in the Nigerian Agricultural Insurance Company Limited, which was later incorporated in June, 1988 but later turned into a Corporation in 1993 by the enabling Act 37 of 1993.

Nigerian Agricultural Insurance Corporation is therefore a wholly-owned Federal Government of Nigeria insurance company set up specifically to provide Agricultural risks insurance cover to Nigerian farmers

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