Check mail
     
Menu

 
Objectives of the Nigeria  Agricultural Insurance Scheme (NAIC)
:: Functions of NAIC Links

About NAIC

 Functions of NAIC | Agric Scheme | Departments | Management | Contact Us


According to Decree No.37 of 1993 enabling the Corporation, its functions include the followings:

1.  To implement, manage and administer the Agricultural Insurance Scheme established by section 6 of Decree No. 37 of 1993
2.  To subsidize the premiums chargeable on selected crops and livestock policies from the grants obtained from Federal, States Governments and the Federal Capital Territory, Abuja.
3. To encourage institutional lenders to lend more for agricultural production having regard to the added security for their loans provided by the Corporation.
4.  To promote increased agricultural production generally by minimizing or eliminating the need for ad-hoc assistance previously providing by Governments during agricultural disasters.
5. To carry on insurance business on normal commercial basis and without subsidies on premiums as insurers of building, machineries, equipment and other items which form part of the total investment on farms and to re-insure this aspect of its operations through well established channels with reputable re-insurance companies.
6.  To operate other types of insurance business as may be permitted by the Commission of Insurance at competitive premiums; and
7.  To do anything or to enter into any transaction which is calculated to facilitate the due performance of all its functions.
 

 

 Quicklinks
 
:: Vision

To remain the pioneer and leader in the country’s Agricultural Insurance, providing professional insurance....more>

:: Site Tools
 
 
:: Quick Links
Nigerian Agricultural Insurance Corporation
 

Copyright 2007-2008 Nigerian Agricultural Insurance Corporation