The Ekiti State Government has approved the payment of 50 percent counterpart funding to insure farmers across the state against unforeseen risks and climate-related disasters. This comes as a strategic response to the losses suffered by farmers due to adverse weather conditions last year.
According to the State Commissioner for Agriculture and Food Security, Mr Ebenezer Boluwade, the approval will enable Ekiti to participate in “The Africa 10 Million Climate-Resilient Farmers Initiative for 2025 Wet Season Farming,” a major national programme driven by the Presidential Food System Coordinating Unit (PFSCU) under the Office of the Vice President.
Speaking in Ado-Ekiti, Boluwade said, “The Matching Fund is designed to provide succour for the farmers in the face of climate uncertainties, and anticipated shocks as forecasted by the Nigerian Meteorological Agency (NiMet) for 2025 Wet Season.”
He explained that the initiative will shield farmers from extreme weather conditions, supporting the government’s broader strategy on food security.
This intervention is directly linked to the Renewed Hope Agenda of President Bola Ahmed Tinubu, which places agriculture at the center of Nigeria’s economic recovery. The project supports the National Food Security Strategy, aiming to reduce hunger and improve livelihoods across rural communities.
The insurance cover, known as “Area Yield Insurance Cover,” is a structured initiative under a consortium led by Leadway Insurance and PULA Advisors. It offers protection against risks such as flood, drought, excessive heat, windstorms, pests, and plant diseases.
The Commissioner explained that this type of insurance uses a model known as Average Production History (APH), which sets a benchmark yield based on historical records.
“The APH is defined as a benchmark yield stated in the contract and is applied to determine if there are any payouts,” Boluwade noted.
He further emphasized the importance of this support in boosting farmer confidence. “As a leading food-producing state with vast arable land and a committed farming population, Ekiti State is intensifying its support for agricultural development through bold and people-centered interventions that directly benefit farmers and agro-entrepreneurs,” he said.
Boluwade highlighted that this new move aligns with the Biodun Abayomi Oyebanji administration’s shared prosperity agenda.
The administration has also introduced targeted subsidies to lower production costs, enhance food output, and promote mechanized farming across the state.
Calling on local farmers to take full advantage of the initiative, the Commissioner said, “The Ministry of Agriculture and Food Security hereby calls all the hardworking and resilient farmers across the state to take advantage of this window of opportunity by adhering strictly to good agricultural practices and adopt climate smart practices as Government has taken an audacious step to mitigate both known and unforeseen risks in the current farming season.”
