The Nigerian Meteorological Agency (NiMet) has partnered with REX Insurance to provide weather-based insurance solutions designed to help Nigerian farmers safeguard their livelihoods against climate-related losses.
By offering protection against unpredictable weather events such as droughts and floods, the initiative would make agriculture both safer and more sustainable for farmers across the country.
The Director General of Nimet, Prof. Charles Anosike, during the signing of the MoU in Abuja, shared a brief history of the agency, highlighting its over 100 years of weather observation in Nigeria.
Anosike said that agricultural sector is increasingly vulnerable to the effects of climate change, which can negatively impact crops, livestock, soil, water resources, and rural communities.
He explained that weather index agricultural insurance scheme uses measurable weather data to trigger insurance payouts when conditions surpass certain thresholds.
Anosike added that the approach, combined with crop calendar forecasting, a tool that predicts optimal planting and harvesting times based on climate data, was designed to give farmers access to timely weather and climate information, supporting smarter agricultural practices and boosting crop yields.
He opined that effective risk management relies on accurate climate information, and reaffirmed NiMet’s strong commitment to the partnership with REX Insurance for the benefit of Nigerian farmers.
Anosike, however, underscored the importance of insurance as a valuable tool for managing climate risks, particularly in the face of increasingly frequent and severe weather events.
On his part, Managing Director, REX Insurance, Mrs. Ebelechukwu Nwachukwu, provided further insight into the company’s background.
She emphasised that their transformation focuses on helping smallholder farmers plan more effectively.
She announced that through this partnership, index-based insurance for smallholder farmers will soon become a reality in Nigeria.