Climate Risks: Ekiti Govt Pays Counterpart Fund To Insure Farmers
SANNI SEFIU OLUWADAMILARE
The Ekiti State Government has approved the payment of 50% counterpart funding to enroll farmers in an agricultural insurance scheme aimed at protecting them from climate-related risks during the 2025 wet season.
This initiative allows Ekiti farmers to participate in the “Africa 10m Climate-Resilient Farmers Initiative” under the Presidential Food Systems Coordinating Unit (PFSCU), supervised by the Office of the Vice President.
The program supports the National Food Security Strategy under President Bola Tinubu’s Renewed Hope Agenda.
Commissioner for Agriculture and Food Security, Ebenezer Boluwade, announced the funding in Ado-Ekiti, emphasizing that the matching fund will shield farmers from anticipated shocks forecasted by the Nigerian Meteorological Agency (NiMet), including drought, flooding, heatwaves, and pest outbreaks.
The insurance, provided through Leadway Insurance and PULA Advisors, operates under the “Area Yield Insurance Cover” scheme.
It uses historical yield benchmarks—Average Production History (APH)—to determine compensation eligibility in the event of crop failure.
Boluwade noted the move aligns with Governor Biodun Oyebanji’s shared prosperity agenda and broader agricultural subsidy programs aimed at enhancing food production, cutting input costs, and encouraging mechanization in the state.
Farmers across Ekiti State are urged to embrace good agricultural practices and adopt climate-smart farming to fully benefit from the government-backed insurance initiative.
