A new insurance solution, “Pay-At-Harvest,” has been introduced to protect Nigerian crop farmers against the growing threats of climate change and global warming. The scheme allows farmers to access comprehensive insurance coverage for their crops without the immediate burden of paying premiums. Instead, farmers can defer payments until after harvest, when they are financially stable, either through sales of produce or compensation from insurance in the event of a loss.
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The “Pay-At-Harvest” insurance package provides protection against a wide range of climate-induced risks, including floods, droughts, pest infestations, prolonged dry spells, and excessive rainfall. This solution aims to safeguard smallholder farmers, who are particularly vulnerable to unpredictable weather patterns, ensuring that they continue to thrive despite adverse climate conditions.
During a recent webinar on the impact of climate change on agribusiness, experts emphasized the critical role of insurance in supporting farmers. The new scheme is designed to act as a financial safety net for farmers, helping them manage the increasing risks posed by climate change.
By offering this deferred payment model, “Pay-At-Harvest” ensures that farmers can focus on their core activity—growing food—without worrying about the financial strain of upfront premium payments. As climate risks continue to disrupt traditional farming practices, this insurance package is expected to strengthen Nigeria’s food systems by protecting investments and promoting agricultural sustainability.
