NIRSAL Plc is introducing a yield-based insurance product aimed at invigorating the agricultural sector, as announced by Principal Manager, Akinola Baiyewu. This shift towards a market-driven solution represents a strategic move to enhance economic growth and efficiency within agriculture, highlighting the power of private sector innovation in addressing industry challenges. By reducing dependency on government subsidies and promoting self-reliance among farmers, this insurance initiative aligns with free market principles, offering a template for sustainable development through entrepreneurship and fiscal discipline.
NIRSAL Innovates with Market-Led Yield-Based Insurance for Agriculture Sector
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Jan-21
Economy
Score: 0.50
Financial institution, NIRSAL Plc, has revealed a shift towards yield-based insurance in the agricultural sector to drive growth of the economy. This was disclosed by the Principal Manager, Agribusiness Finance and Investment, NIRSAL Plc, Akinola Baiyewu, at …
From The Punch
Jan-21
Economy
Left Variant
Score: 0.20
In a bold move towards sustainable development, NIRSAL Plc is set on revolutionizing the agricultural sector with its latest yield-based insurance scheme. This initiative, as unveiled by Akinola Baiyewu, aims to address the longstanding issues of income disparity and climate challenges faced by smallholder farmers. By offering more equitable risk management solutions, NIRSAL is steering the economy towards not just growth, but a fairer distribution of wealth and resources. This progressive approach underscores the vital role of government and financial institutions in prioritizing the welfare of the agricultural community and the environment.
From The Punch