Leadway, Pula Insurtech Shield Nigerian Farmers Against Climate Risks With ‘Pay-At-Harvest’ Initiative

By LOVETH AZODO, Lagos

Leadway Assurance, in collaboration with insurtech firm Pula Advisors and development organization Heifer International, has introduced an innovative insurance scheme aimed at protecting Nigerian crop farmers from the escalating threats of climate change.

The “Pay-At-Harvest” insurance model allows farmers to defer premium payments until after their harvest, offering a solution to mitigate the financial strain of upfront costs.

The scheme, which targets smallholder farmers, provides coverage for weather-related risks such as floods, droughts, pest infestations, prolonged dry spells, and excessive rainfall.

By deferring premium payments until farmers are more financially secure post-harvest, the program aims to bolster the agricultural sector’s resilience amid unpredictable climate conditions.

At a recent webinar organized by Leadway Assurance, titled “Climate Change: The Evolving Future of Agribusiness,” Ayoola Fatona, Leadway’s Head of Regional Technical Services and Agricultural Insurance, stressed the importance of such initiatives.

“Climate change poses significant risks to the agricultural sector. With the Pay-At-Harvest model, we are ensuring that farmers remain protected without the burden of upfront payments,” Fatona said.

The scheme, developed in partnership with Pula Advisors, which specializes in agricultural insurance solutions, and Heifer International, is part of a broader effort to protect farmers’ investments and maintain the nation’s food security. Rufus Idris, Country Director of the Alliance for a Green Revolution in Africa (AGRA), emphasized that insurance is no longer a luxury for farmers, but a necessity in the face of climate challenges.

As Nigeria continues to face the impacts of climate change, Leadway’s “Pay-At-Harvest” insurance is being promoted as a critical tool to help farmers maintain productivity and safeguard their livelihoods against worsening weather conditions.