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By Henry Uche
A poultry farmer, Mrs. Nwowu Ifeanyi, has said that the high cost of operation is a major factor dampening the chances of players in the agric sector from insuring their businesses.
She admitted that she is not aware of the existence of insurance policies and companies in Nigeria and their relevance to businesses.
As an educated poultry farmer, she said rearing different species of birds is tasking and risky. She said she has been in the business for over a decade but does not have any insurance cover. She said; “I can’t afford to purchase feeds, medicals and other expenses for my birds and still have reserve for insurance cover.”
She also accused some underwriters of insincerity, alleging that they always find ways of not paying compensation.
“We must investigate any insurance company before we engage them. There are many of them in Nigeria, some aretrustworthy while some are not. So, it’s left to us to know which one to take insurance cover from,” she noted. She said from the onset, she had the funds to buy insurance cover for her crops and animals but she never saw the relevance of insurance for her farm, and then, she recorded very little or no loss, because the impact of climate change had not become very obvious like the reality today.
Ifeanyi said she records minimal losses but due to climatic conditions, some birds die. She said however, that her gains have always outweighed her losses because as an experienced poultry farmer, she knows what type of feed and medications to administer to the birds, and at what stage of their life cycle and the specifications involved, including physical security of the environment of the poultry farm.
She noted also, that the importance of insurance to her farm business has become glaring today in order to cushion the effect of any misfortune but says that underwriters usually finding fault to evade paying compensation/ claims. This, she said, is a report against many insurance companies in Nigeria.
“I’m aware of insurance. But I have to do the needful in providing foods, medicines and security for the birds. Since I’m left with no money to get insurance cover, I leave them in the hands of God.
“I’m not ignorant of insurance. It’s just the sick economy we have today that has rendered the quality of naira useless,” she said.
It’s just like any other person who would tell you that he needs to eat first, live and stay alive before he thinks of insurance. But hopefully, going forward, I will strive to get one,” she assured.
