The Federal Ministry of Agriculture and Food Security has expressed readiness to collaborate with the National Insurance Commission (NAICOM) to realign policies aimed at strengthening cooperative societies and repositioning the National Agricultural Insurance Corporation (NAIC).
The Minister of State for Agriculture and Food Security, Senator Aliyu Abdullahi, made this known on Friday in Abuja while receiving a delegation from NAICOM on a courtesy visit.
Abdullahi emphasised that strategic partnerships and coordinated policy implementation were essential to driving sustainable national development. He noted that extending insurance coverage to cooperative societies was consistent with international best practices and crucial for economic diversification.
He stressed, however, that reforms must preserve the core principles of cooperatives, including integrity, accountability and sound governance.
According to the minister, countries with stable and resilient economies often operate strong and well-structured cooperative systems. He added that revitalising cooperatives and agricultural insurance aligns with President Bola Tinubu’s vision of building a one-trillion-dollar economy under the Renewed Hope Agenda.
“Improving governance across sectors requires policy harmonisation. This engagement marks a significant step toward achieving that goal,” he said.
Abdullahi disclosed that the ministry was considering a Memorandum of Understanding (MoU) with NAICOM to formalise collaboration on the reform of NAIC and cooperative structures. He added that a strong technical working relationship between both institutions would help transform the nation’s food system.
Earlier, NAICOM’s Chief Executive Officer, Mr Olusegun Omosehin, said the visit was aimed at deepening cooperation to revitalise NAIC and strengthen cooperative frameworks.
He explained that the initiative supports the Federal Government’s broader objectives of promoting economic stability, peace and food security.
Omosehin described NAIC as a critical institution under the ministry’s supervision, noting that it plays a vital role in protecting smallholder farmers and enhancing agricultural resilience.
He said effective policy coordination between NAICOM and the ministry would enable NAIC to perform optimally and boost food production nationwide.
“Nigerians depend on NAIC to support farmers and safeguard agricultural investments. By aligning our policies, we can reposition the corporation to better deliver on its mandate,” he said.
