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By Henry Uche
Leadway Assurance, leveraging its partnership with Alliance for a Green Revolution in Africa (AGRA), the National Agricultural Development Fund (NADF) and Verdure Climate, is leading a national dialogue on identifying challenges and proffering actionable solutions on agricultural and climate risks in Nigeria.
At a forum themed: ‘Accelerating Agricultural Lending to Market Actors and Smallholder Farmers Using Index-Based Agric Insurance & Blended Finance Solutions,’ policymakers, financial institutions, agribusiness leaders, development experts, and critical value-chain actors examined scalable models capable of strengthening Nigeria’s agricultural resilience.
Recent data shows that over 82% of Nigerian farmers remain uninsured (Phys.org, 2024), while projections warn that climate-induced disruptions could cut Nigeria’s agricultural productivity by 10–25% by 2080, with some rain-dependent regions facing losses of up to 50% (IOSR Journal, 2024; ScienceDirect, 2025). Against this backdrop, the dialogue provided a timely platform for advancing integrated solutions that combine insurance, credit, and climate-risk financing.
Speaking at the event, Ayoola Fatona, Global Head, Agriculture Risk Solutions, Leadway Assurance, reaffirmed the organisation’s long-term commitment to financial inclusion and agricultural transformation. “We are on a mission to make insurance a catalyst for productivity by ensuring farmers can access credit, adopt climate-keen practices, and recover quickly from weather-related shocks. Collaborating with AGRA, NADF, and Verdure Climate allows us to co-create solutions that strengthen the entire value chain and secure the future of our food systems”
Ayoola highlighted the urgency of building systems that empower farmers and de-risk financiers. He noted: “the dialogue forms part of our AGRA-supported initiative to build farmers’ resilience through innovative insurance models and financial instruments across Niger, Kaduna, and Nasarawa States.
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“As climate risks intensify, our responsibility extends beyond underwriting; we must become enablers of productivity, inclusion, and long-term stability. Index-based insurance, when integrated with blended finance structures, creates the transparency, speed, and scalability needed to unlock credit for market actors and smallholder farmers alike.”
He added that the collaboration among government, insurers, financiers, and development partners is essential to translating innovation into real impact for farmers: the maize grower in Nasarawa, the rice producer in Niger, and the aggregators supporting thousands across Kaduna.
Leadway assured it would not leave any stone unturned in investing in and strengthening Nigeria’s agricultural insurance framework through initiatives such as index-based crop insurance, public-private partnerships with state governments, and capacity-building programmes for rural farming communities.
Meanwhile, Leadway’s newly appointed first female Board Chair, Mrs. Adebisi Lamikanra, had, on assumption of office, rallied the Board, management, and other stakeholders to strengthen the Leadway legacy by driving sustainable growth, advancing digital transformation, and achieving new milestones.
Reinforcing Leadway’s role as a catalyst for financial inclusion and economic development, Lamikanra expressed gratitude and optimism about the company’s future, having benefited from the leadership and mentorship of her predecessor, General Martin Luther Agwai (Rtd), in steering the affairs of the Board during his tenure as Board Chairperson.
“I am deeply honoured to assume this responsibility at such a pivotal moment in Leadway Assurance’s journey. The organization’s legacy of trust and innovation, built over five decades, continues to inspire confidence in Nigeria’s financial ecosystem.”
Some customers of Leadway Assurance and other stakeholders, who requested anonymity, said they expect nothing less than what the new Board Chair has achieved in her previous roles. “We’re watching. We want to believe the assertion that ‘what a man can do, a woman can even do better,’ but time will tell,” they submitted.
